| Abstract [eng] |
Complex and dynamic small and medium-sized business environment determines new strategic activities directions, forms and tools of development of this business segment. Although the development conditions for the SMEs in Lithuania are quite favourable, it can be claimed that the macroeconomic (external) and microeconomic (internal) risk factors that affect the development of SMEs and have the most impact on the operations of enterprises in Lithuanian, is a constantly variable and dynamic process, which has a huge impact on the state’s business development opportunities. Increasing pace of change in the global business environment and political challenges of the business environment raise the need for a new understanding of the integrated risk management benefits to small and medium-sized trade and manufacturing enterprises and to assess the specifics of individual businesses in the long-term perspective. However, there are very few research studies dedicated specifically to this problem and their data can be applied to a very limited extent, regardless of the business risk determined by the internal and external environment, the specifics of the company operations, its uniqueness and volume. The aim of the research is to assess the gaps in risk management for SME trading and manufacturing enterprises, to reveal risks only inherent in small businesses and find out the assumptions of risk management instruments that are in use. The data analysis of the survey and interviews carried out with the managers of Lithuanian SMEs during the empirical studies has revealed a varied respondents’ ability to identify business risk and manage it accordingly. Such differences are particularly noticeable when examining the SMEs managers’ understanding of what risk mitigation instruments can be used in their business... |
