IMPROVEMENT OF THE SMALL BUSINESS MANAGEMENT SYSTEM TO ENSURE ITS DEVELOPMENT

Keywords: small enterprise, management system, strategic planning, innovation, resource management, risk management, human capital development, competitiveness

Abstract

The effective functioning of small businesses plays a crucial role in ensuring sustainable economic development in Ukraine. However, due to limited resources, fierce competition and a dynamic business environment, small enterprises face numerous challenges in their development. The purpose of the study is to develop a comprehensive scientific and theoretical approach to improving the management system of small enterprises to ensure their sustainable development and competitiveness. The research methodology is based on a critical analysis of existing management theories and models, study of successful practices, and synthesis of the results obtained in the form of an integrated management system. The methods used are comparative analysis, systematic approach, induction and deduction. The obtained results demonstrate that an effective small enterprise management system should combine various aspects, such as strategic planning, flexible organizational structure, innovation and risk management, resource optimization, human capital development, and continuous improvement. Specific practical recommendations for implementing the proposed system have been developed. This system takes into account the specific challenges and opportunities of the Ukrainian market and is aimed at ensuring the effective development of small enterprises by increasing their competitiveness, adaptability and sustainability. The formation of a management system based on modern components will allow small enterprises to increase their own efficiency and productivity, and to use the available limited resources more rationally. This, in turn, will help to strengthen competitive positions in the market, diversify the production of its own products and services, introduce innovations and improve existing business processes. The scientific novelty of the study lies in the formation of an integrated approach to small business management adapted to domestic realities. The practical value of the study lies in the possibility of applying the proposed solutions to improve the efficiency and competitiveness of small enterprises in Ukraine, which will contribute to their sustainable development and strengthen their role in the country's economy.

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Published
2024-04-29
How to Cite
Maksychka , A., & Kovbasa , O. (2024). IMPROVEMENT OF THE SMALL BUSINESS MANAGEMENT SYSTEM TO ENSURE ITS DEVELOPMENT. Economy and Society, (62). https://doi.org/10.32782/2524-0072/2024-62-140
Section
MANAGEMENT