Influence of the economic crisis on SMEs and their management strategies
Andreeva, Iuliia (2017)
Andreeva, Iuliia
Hämeen ammattikorkeakoulu
2017
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201705107313
https://urn.fi/URN:NBN:fi:amk-201705107313
Tiivistelmä
This thesis investigates how the economic crisis influences on the small sized company and how the SME can overcome negative impacts. This thesis researches the impact of economic crisis based on the example of the small Russian company which located in St. Petersburg and named JSC “Restel”. The main goals of this thesis are to analyse current financial situation and strategy of the company, understand the lack of the successful development and define what company should change to be more profitable and more competitiveness.
The thesis consists of two parts. The theoretical part of the thesis explores different approaches to definitions of SME, importance of management strategy, stages of economic crisis, and challenges for SME during the period of economic crisis, and main features of economic crisis in Russian market. Three main qualitative methods were used in the practical part: SWOT-analyse, interview with CEO of the case company and analysis of key financial rates for the period of three last year. The key financial rates were analysed through reports of financial results and annual report of the case company for the 2014, 2015, 2016 years.
The result of this thesis is the SME is impacted by the economic crisis in first place. At the same time the SMEs are more flexible than large companies to overcome crisis period. It was identified deterioration of financial rates as a result of influence of the economic crisis and lack in the management strategy in the case company. Some suggestions were made to create clear management strategy for the company.
The thesis consists of two parts. The theoretical part of the thesis explores different approaches to definitions of SME, importance of management strategy, stages of economic crisis, and challenges for SME during the period of economic crisis, and main features of economic crisis in Russian market. Three main qualitative methods were used in the practical part: SWOT-analyse, interview with CEO of the case company and analysis of key financial rates for the period of three last year. The key financial rates were analysed through reports of financial results and annual report of the case company for the 2014, 2015, 2016 years.
The result of this thesis is the SME is impacted by the economic crisis in first place. At the same time the SMEs are more flexible than large companies to overcome crisis period. It was identified deterioration of financial rates as a result of influence of the economic crisis and lack in the management strategy in the case company. Some suggestions were made to create clear management strategy for the company.