Title:	System dynamics model of crises in small and medium enterprises
Authors:	Vojtko, Viktor Rolínek, Ladislav Plevný, Miroslav
Citation:	VOJTKO, V., ROLÍNEK, L., PLEVNÝ, M. System dynamics model of crises in small and medium enterprises. Economic Research-Ekonomska Istraživanja, 2019, roč. 32, č. 1, s. 168-186. ISSN 1331-677X.
Issue Date:	2019
Publisher:	Taylor & Francis
Document type:	článek article
URI:	2-s2.0-85062083488 http://hdl.handle.net/11025/34890
ISSN:	1331-677X
Keywords in different language:	small and medium enterprises (SME);crisis;business management;system dynamics model;simulation modelling
Abstract in different language:	The article aims to improve existing theories of business development and crisis management with a special emphasis on inner dynamics of crises in small and medium enterprises (SMEs). For these purposes, combined perspectives of system dynamics, company life cycles, crisis management, resilience and business continuity management in SMEs have been used. Based on data of about 554 crises from 183 companies collected in the Czech Republic, the most common crises types and their combinations have been identified using association rules mining method. Then, a simulation system dynamics model synthesizing the main findings and allowing scenario analysis to explain and avoid some of the crises in SMEs has been developed for a case study of manufacturing company. Such a simulation model enriches the present knowledge and explains complex dynamics of crises in SMEs in a novel way. When properly calibrated, this model could be used as a supporting tool for decision-making in manufacturing SMEs.
Rights:	© Taylor & Francis
Appears in Collections:	Články / Articles (KEM) OBD

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