Managing Small and Medium Enterprises (SMEs) During Unexpected Situations: Strategies for Overcoming Challenges

Abstract

AbstractCrises are part of life, no one has not gone through a crisis or may go through it. Recently, it has been noticed that many crises occur globally and locally rapidly and increasingly. In this research, the focus will be on small and medium enterprises (SMEs), on the way they deal with difficult situations, in addition to the strategies and processes that they follow during crisis and post crisis. Moreover, it will shed light on the role of innovation in reducing risks associated with crises, the effects and influences that are related to the survival of the enterprises and the main causes of success during these difficult times; in turn, the main causes of failure. It will be a comprehensive analysis of crisis management and overcoming challenges during and after crises. The occurrence of the unexpected and unplanned situations is inevitable at any time, however the challenge is how to turn this matter into an opportunity, and what is the importance of planning and full readiness for such situations, as well as predicting and finding solutions before the problem arises, as in emergency situations often thinking becomes harder and narrower.KeywordsCrisesSMEsChallengesSurvivalCrisis managementInnovationUnexpected situations