Temjanovski, Riste and Jovanov, Tamara (2012) Кризата – извор на претприемнички можности: адаптација на (маркетинг) стратегијата кон новите пазарни услови. Proceedings from International scientific conference: Faces of the crisis. pp. 565-577.
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Abstract
The recession leads to an increase in the number of closed businesses and increase in the participation of bankruptcy within these closures. The closure of companies creates social costs, especially in case of bankruptcy, but on the other hand taking into account that first least efficient enterprises fail, it may have positive implications, i.e. the death of these companies creates an increase in the average productivity of labor and free space in the market for new companies or new activities by existing companies. New initiatives may include a wide range of business opportunities - from creating new combinations to use new opportunities for existing or new markets. According to The Economist (2009:18), the crisis is a time when small and medium enterprises (SMEs) rather than replacing existing products and services, promote innovation and meet new needs. A large number of SMEs change operation strategy in time of crisis, and also see the crisis as an opportunity to establish precedence over weaker competitors or entry into new entrepreneurial ventures. The crisis creates a change in mindset among the people, by making them more open to change and stimulates the development of ideas for new products/services and new production methods. Simultaneously, the crisis creates difficulties for existing firms with deep interests in mature technologies to impede the entry of new competitors. The Small Business Act (SBA, 2009) designed by EU indicates that 18 of the 30 companies that presently make up the Dow Jones Industrial Average were launched during a recession. The importance of entrepreneurship and adaptation of business/marketing strategy is best illustrated with the fact that almost all giant companies started as small companies.
Key words: entrepreneurship, small and medium enterprises (SMEs), crisis, opportunities, (marketing) strategy.
| Item Type: | Article |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Riste Temjanovski |
| Date Deposited: | 05 Nov 2012 11:40 |
| Last Modified: | 14 Aug 2018 09:15 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/356 |
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