The Triad of Management Decisions for a Small and Medium Enterprise
56th International Riga Technical University Conference "Scientific Conference on Economics and Entrepreneurship" (SCEE'2015): Proceedings 2015
Māris Millers

Small and medium-sized enterprises (SMEs) represent 90% of all businesses in the EU. One of typical characteristics for SME is that company founders and owners keep active role in company management acting as the CEO, board member or active directors. As result, personality and skills of owner have a significant impact on operating model and ultimate success of enterprise. Traditional management theories, to be implemented successfully, requires from management to have deep understanding of theory and tools, and ability to allocate significant time and effort for developing and improving management system. However, time is a scares resource, especially in a SME. The Triad of Management Decisions, developed by author on basis of analysis of management theories and practical cases, suggests a simple framework, relevant for a SME, with a set of guidelines on how to start building management system for a lasting success. Triade consists of: decision about strategy – selecting business model, defining target market and setting goals, decisions about configuration – setting up process, operations and organisation; and decision on implementation – planning, financing and controlling.


Atslēgas vārdi
Small and medium enterprise, Management system, Owner-manager.
Hipersaite
https://www.rtu.lv/writable/public_files/RTU_scee_2015_proceedings.pdf#page=65

Millers, M. The Triad of Management Decisions for a Small and Medium Enterprise. No: 56th International Riga Technical University Conference "Scientific Conference on Economics and Entrepreneurship" (SCEE'2015): Proceedings, Latvija, Riga, 14.-16. oktobris, 2015. Riga: 2015, 65.-66.lpp. ISBN 978-9934-8275-3-2. ISSN 2256-0866.

Publikācijas valoda
English (en)
RTU Zinātniskā bibliotēka.
E-pasts: uzzinas@rtu.lv; Tālr: +371 28399196