Abstract
The topic of strategic management and decision making was underestimated by SMEs for a long term. Managers believed that experience, intuition and operability are the key success factors of their management work. These opinions have recently been abandoned in the management practice. This paper is focused on the analysis of strategic management and decision making and presents the outputs from research based on a test sample of 381 enterprises, of which 114 microenterprises, 141 small enterprises and 126 medium-sized enterprises. The company size categorization within this sample is corresponding to the SME structure in the South Bohemian Region. Lack of awareness of procedures for development of essential strategic documents such as vision, mission statements and a corporate strategy was observed. More than 60 % SMEs do not have such documents. are Similar results were obtained with respect to the development of a corporate strategy using the methods of a strategic situation analysis. This finding is alarming and its adverse impact can primarily be expected in a period of economic recession or downturn.
Highlights
Small and medium-sized enterprises (SMEs) in the Czech Republic have gone through a number of development stages
This paper is focused on the analysis of strategic management and decision making and presents the outputs from research based on a test sample of 381 enterprises, of which 114 microenterprises, 141 small enterprises and 126 medium-sized enterprises
More than 60 % SMEs do not have such documents. are Similar results were obtained with respect to the development of a corporate strategy using the methods of a strategic situation analysis
Summary
Small and medium-sized enterprises (SMEs) in the Czech Republic have gone through a number of development stages. The application of strategic management and decision making processes to SME corporate practice is limited by development of the strategic management science It began to form at the end of the 60s and at the beginning of the 70s of the last century, in particular in the world advanced economies with developed market economy. In the Czech Republic, the last decade of the last century is characterized by establishing SMEs in a new market environment at the national as well as international level. Their stabilization and transformation role, and the high level of absorption in terms of engagement of workers gradually laid off by dissolved or ineffective operations are unique in Europe. One of the tools that can considerably help to improve the economic situation of SMEs in general (and for rural areas) is a modern management and administration concept where strategic management plays a key role
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