IDEAS home Printed from https://ideas.repec.org/a/ovi/oviste/vxxivy2024i1p509-516.html
   My bibliography  Save this article

Practices of Strategic Management For Romania's Small and Medium Enterprises in The Digital Age

Author

Listed:
  • Sofia Mihaela Romanescu

    (University of Craiova, Faculty of Economics and Business Administration,)

  • Carmen Maria Mihalcea

    (University of Craiova, Faculty of Economics and Business Administration,)

  • Denisa Mihaela Sula

    (University of Craiova, Faculty of Economics and Business Administration,)

Abstract

The article discusses the strategic management of SMEs within the digital era's context, focusing on helping these enterprises stay competitive in a rapidly changing global market, influenced by digital innovation. It underscores the importance of adopting new strategic thinking methods to ensure SMEs' viability worldwide. The theoretical segment reviews existing knowledge, citing strategies and strategic management within the digital era's dynamics. The research gathers critical information on the business environment shaped by digital advancements, necessary for understanding emerging trends, technologies, and global market shifts. The study pinpoints new challenges faced by SMEs and offers insights and solutions for these issues. A significant contribution of this research in strategic management for SMEs during the digital age is the creation and refinement of new strategic thinking models and techniques. This innovative research provides conceptual frameworks and practical tools tailored to meet the unique challenges of the digital landscape.

Suggested Citation

  • Sofia Mihaela Romanescu & Carmen Maria Mihalcea & Denisa Mihaela Sula, 2024. "Practices of Strategic Management For Romania's Small and Medium Enterprises in The Digital Age," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 509-516, August.
    • Handle: RePEc:ovi:oviste:v:xxiv:y:2024:i:1:p:509-516
    as

    Download full text from publisher

    File URL: https://stec.univ-ovidius.ro/html/anale/RO/2024i1/Section%204/18.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Henrik Berglund & Christian Sandström, 2013. "Business model innovation from an open systems perspective: structural challenges and managerial solutions," International Journal of Product Development, Inderscience Enterprises Ltd, vol. 18(3/4), pages 274-285.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Patrick Spieth & Svenja Meissner Née Schuchert, 2018. "Business Model Innovation Alliances: How To Open Business Models For Cooperation," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 22(04), pages 1-26, May.
    2. Johannes Heck & Mirko Meboldt, 2016. "CURRENT CHALLENGES IN PRODUCT DEVELOPMENT PROCESSES OF SWISS SMEs," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 20(05), pages 1-19, June.
    3. Sébastien Caisse & Benoit Montreuil, 2014. "Polar Business Design," SAGE Open, , vol. 4(1), pages 21582440145, February.
    4. Maxime Thomas & Pascal Le Masson & Benoit Weil, 2017. "Why is Business Model Innovation so poorly innovative ? Uncovering the critical role of collaborative design in Business Model Innovation," Post-Print hal-01499143, HAL.
    5. Engwall, Mats & Kaulio, Matti & Karakaya, Emrah & Miterev, Maxim & Berlin, Daniel, 2021. "Experimental networks for business model innovation: A way for incumbents to navigate sustainability transitions?," Technovation, Elsevier, vol. 108(C).
    6. Taewon Suh & Omar J. Khan & Benedikt Schnellbächer & Sven Heidenreich, 2019. "Strategic Accord And Tension For Business Model Innovation: Examining Different Tacit Knowledge Types And Open Action Strategies," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 24(04), pages 1-29, July.
    7. Bankel, Amanda & Mignon, Ingrid, 2022. "Solar business models from a firm perspective – an empirical study of the Swedish market," Energy Policy, Elsevier, vol. 166(C).
    8. Ievoli Corrado & Belliggiano Angelo & Marandola Danilo & Milone Pierluigi & Ventura Flaminia, 2019. "Information and Communication Infrastructures and New Business Models in Rural Areas: The Case of Molise Region in Italy," European Countryside, Sciendo, vol. 11(4), pages 475-496, December.
    9. Ahlgren Ode, Kajsa & Lagerstedt Wadin, Jessica, 2019. "Business model translation—The case of spreading a business model for solar energy," Renewable Energy, Elsevier, vol. 133(C), pages 23-31.
    10. Mostaghel, Rana & Oghazi, Pejvak & Lisboa, Ana, 2023. "The transformative impact of the circular economy on marketing theory," Technological Forecasting and Social Change, Elsevier, vol. 195(C).
    11. Karami, Masoud & Baber, William W. & Ojala, Arto, 2022. "The effectual process of business model innovation for seizing opportunities in frontier markets," Technovation, Elsevier, vol. 117(C).
    12. Best, Bernadette & Miller, Kristel & McAdam, Rodney & Moffett, Sandra, 2021. "Mission or margin? Using dynamic capabilities to manage tensions in social purpose organisations’ business model innovation," Journal of Business Research, Elsevier, vol. 125(C), pages 643-657.
    13. Lukas Kung & George M. Giaglis, 2024. "DAOs' Business Value from an Open Systems Perspective: A Best-Fit Framework Synthesis," Papers 2406.12445, arXiv.org.
    14. Agarwal, Renu & Mittal, Neeraj & Patterson, Eric & Giorcelli, Michela, 2021. "Evolution of the Indian LPG industry: Exploring conditions for public sector business model innovation," Research Policy, Elsevier, vol. 50(4).
    15. Markoff-Legrand, Anastasia & Bocquet, Rachel & Gandia, Romain, 2024. "Multi-level neo-institutional analysis of pressures and tensions for adopting a digitally driven business model innovation: Responses from a French energy incumbent," Technological Forecasting and Social Change, Elsevier, vol. 205(C).
    16. Selma Leticia Capinzaiki Ottonicar & Paloma Marin Arraiza & Fabiano Armellini, 2020. "Opening Science and Innovation: Opportunities for Emerging Economies," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 14(4), pages 95-111.
    17. Mostaghel, Rana & Chirumalla, Koteshwar, 2021. "Role of customers in circular business models," Journal of Business Research, Elsevier, vol. 127(C), pages 35-44.
    18. Shrutika Mishra & A R Tripathi & R S Singh & Priyanshu Mishra, 2024. "Comparative Analysis of Digital Business Models," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 6666-6705, June.
    19. Michael Sturm & Jörg Weking & Markus Böhm & Maximilian Schreieck & Helmut Krcmar, 2023. "How two leading partners learn to tango: The case of IoT-based business model co-innovation between a retailer and an electronics supplier," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-17, December.

    More about this item

    Keywords

    economy; SMEs; management; digital technologies;
    All these keywords.

    JEL classification:

    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:xxiv:y:2024:i:1:p:509-516. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gheorghiu Gabriela (email available below). General contact details of provider: https://edirc.repec.org/data/feoviro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.