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The Sustainable Performance of Small and Medium-Sized Enterprise: Case from Latvia
Published: 29 October 2012 by MDPI in The 2nd World Sustainability Forum session Sustainable Entrepreneurship and Sustainability Innovation
Abstract: An enterprise as a core of any economic system has a great impact on sustainable development of a state or region.The operations and development of an enterprise as an economic entity depends on various factors, identification and evaluation of which is crucial for any enterprise. In the opinion of the authors the enterprise\'s performance is influenced by factors which can be grouped into three blocks: macroeconomic factors, demand factors and structure of industry sector. The authors present the conceptual model of factors influencing enterprise\'s performances and analyse factors\' interactions and manifestations of their impact. In order to study an attitude of entrepreneurs towards influence of external environment factors, the authors carried out empiric research with an aim to assess influence of sixteen external environment factors on performance of the enterprise. Besides, the authors create a model of sustainable performing of SMEs on the base of the results obtained from qualitative and quantitative research. External and internal business environment factors influencing effective performance of the enterprise and performance indicators that are to be supervised principally, according to the enterprise life cycle phases are included in the model. The developed model of SME sustainable performing has been tested in the sector of printing in manufacturing industry. Calculations and data processing were carried out using Microsoft Excel and EViews software.
Keywords: SME, Sustainable performance, model, factors