Resilience of Small and Medium-Sized Enterprises In Terms Of Globalization: An Evidence of Serbia

Resilience can be observed from the aspect of the community, but also from the aspect of the organization. In this study, authors research only organizational aspects of resilience. The goal of these researches is to indicate the significance of the need for improving resilience and determining possibilities for its achievement. Qualitative methods, as well as the extensive literature being a theoretical research frame, have been used for this purpose. Results of our study have shown a tight correlation between globalization level and resilience level, tested for Serbia. In addition, our research indicated that Serbian organizations have a low resilience level. This study has also pointed out that the greatest threats from the business environment for Serbian organizations are big competition in the market and lack of financial funds. Despite, the analysis has simultaneously shown that Serbia in recent years has reached the improvements in the implementation of internal reforms and creation of a more favourable climate for the development of small and medium companies and strengthening of the private sector.