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SMEs Sustainability in Times of Crisis

In: World Lumen Congress 2021

Author

Listed:
  • Otilia-Maria Bordeianu

    (Lecturer PhD, †Stefan cel Mare†University of Suceava, Suceava)

  • Claudia-Elena Grigoras-Ichim

    (Lecturer PhD, †Stefan cel Mare†University of Suceava, Suceava)

  • Lucia Morosan-Danila

    (Lecturer PhD, †Stefan cel Mare†University of Suceava, Suceava)

Abstract

The global crisis generated by the COVID-19 pandemic among the population and at the level of companies, state institutions, etc., underlined the importance of analysing its impact at different levels (intern, national and international level). The concepts of sustainability, development and growth must be aware, adapted and implemented more and more frequently, even constantly, in order to cope with the current evolution of the economy (and not only). The paper is an empirical research conducted in the North-East Region of Romania, aiming to analyse the impact of COVID-19 on local companies (especially SME’s), in the context of existing correlation between the COVID-19 impact on resizing, restricting, changing the number of active employees, changing revenue, changing turnover and changing profit, based on the Spearman correlation coefficients. In this sense, it was important to implement sustainability strategies and ensure the activity and resources of companies in the long term, because the effects of an economic crisis (natural resources, human resources, not only financial) are felt in 2021 and will be felt in the future 10 years. The paper concludes with two practical solutions to ensure the sustainability of the companies involved in the study, solutions that can be applied by all companies that have been affected by the COVID-19 pandemic.

Suggested Citation

  • Otilia-Maria Bordeianu & Claudia-Elena Grigoras-Ichim & Lucia Morosan-Danila, 2022. "SMEs Sustainability in Times of Crisis," Book chapters-LUMEN Proceedings, in: Antonio Sandu (ed.), World Lumen Congress 2021, edition 1, volume 17, chapter 7, pages 58-65, Editura Lumen.
    • Handle: RePEc:lum:prchap:17-07
    DOI: https://doi.org/10.18662/wlc2021/07
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    References listed on IDEAS

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    1. Tracy Artiach & Darren Lee & David Nelson & Julie Walker, 2010. "The determinants of corporate sustainability performance," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 50(1), pages 31-51, March.
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    More about this item

    Keywords

    Development; sustainability; growth; SME; crisis; COVID-19; strategy;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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