Strategic management problems in Romanian small and medium-sized enterprises

Lucian Blaga University of Sibiu, Engineering Faculty, Industrial Engineering and Management Department, 4 Emil Cioran Street, 550025 Sibiu, Romania

^* Corresponding author: gina.moraru@ulbsibiu.ro

Abstract

The aim of the paper is to discover several of the strategic management problems that affect the most of Romanian small and medium-sized enterprises. The study presented here is only a part from a larger research developed by us during the last five years, research oriented towards sustainable development opportunities of these enterprises. Technological revolution, knowledge management and global expansion of big companies are just a few challenges to which small businesses have to cope. For this, their strategic management needs to take into account the turbulent business environment, to anticipate and to carry out correctly and in time the necessary changes in the organization. Unfortunately, our study has found gaps in the use of key strategic management tools and in the balanced use of resources in small Romanian firms.