In business today efforts are being taken in order to grow, while some firms slowly grow organically others decide to perform a merger or an acquisition (M&A). Firms performing M&As have a high failure rate and many times this is caused by a poorly handled post-acquisition process. Small and medium-sized enterprises (SMEs) have, according to researchers, not the same ambition to grow compared to large firms, and the research area concerning the post-acquisition process is often from a large firm perspective. However, SMEs do perform M&As as well and therefore it is in our interest to investigate the post-acquisition process in SMEs and see how the post-acquisition process is performed in these firms. The purpose of this thesis is to investigate the post-acquisition process in SMEs, this to highlight the SME characteristics in a post-acquisition process. Our methodological approach in this study is hermeneutic. To collect empirical information we performed an interview study, where semi-structured interviews with the managing director or a member of the management team in four SMEs have been conducted. A model for analyzing has been constructed, which helped us to process the empirical information from a hermeneutic perspective. The reason why the studied firms performed a M&A was to get access to a new customer base and to strengthen their market positions. The focus in the post-acquisition process has been on external value creation since the customers are highly valuated, and this can be related to the uncertain financial and environmental situation that SMEs experience. All firms in the study have chosen a high level of integration, though the planning in the firms has not been that extensive as the post-acquisition literature suggests. Further, several elements within the human resource area have been neglected in their planning, despite this three of the firms experienced a limited amount of resistance to change and this ought to be related to their SME characteristics. The employees are willing to follow the direction stated by the managing director, who has a high influence on the organization’s culture. In the firms we studied the centralization of power is one important element and the acquiring firms have preferred a unicultural organization, and in most cases a congruence con-cerning culture have occurred.

Absorptive capacity is fundamental for small-middle enterprises to increase their innovativeness and competitiveness in the market place. Human resources, being the most important asset in SMEs, might help firms to obtain adequate levels of absorptive capacity through a planned set of human resource practices. The hu-man costs of implementing such practices, however, cannot be neglected, and this paper studies the relationship between these different variables.

Small and medium sized companies are important to the European economy and considered as the true backbone of the European economy, being primarily responsi-ble for wealth and economic growth. Further, the purchasing function of small and medium sized companies had become more and more important to firms within the creating of competitive advantages. Additional, former research emphasizes the need of companies to engage in closer relationships in order to survive in nowadays business environments. These three issues, - SMEs, its purchasing performance and the relationships the small and medium sized firms are engaged with are interrelated and therefore the essences of the thesis. The thesis is limited to the manufacturing industry due to the potential wide area of small and medium sized companies. The purpose of the thesis is to examine the purchasing practices of small and me-dium sized enterprises with a focus on strategic considerations and supplier relation-ships. The research project is developed with four single case studies. Participating companies were two small sized manufacturing companies and two medium sized manufac-turing companies, defined according to the definition of the European Commission. The study is built on a critical review of former literature and research findings within the purchasing area and the area of small and medium sized companies. The find-ings from literature review (frame of references) and the findings from the empirical study were connected in order to fulfill the purpose of the thesis as well as the developed research questions. In the analysis, the characteristics of SMEs purchasing process were outlined. Evi-dence for strategic consideration were found and the characteristics of the companies relationships where established. Small and medium sized enterprises have developed its purchasing performance po-sitively in the comparison to former research findings. By using business technology systems, strategic planning and deliberations and finally through building close and long-term relationships, manufacturing SMEs found a suitable ways to perform its purchasing activities successful and found its place in sophisticated supply chains.

Small and medium size enterprises are currently the major part of economic activities through out the world. Nowadays, they represent about 99% of all types of enterprises in Sweden, with providing high job opportunities to its labour force as these enterprises need focus in their development; the internal control mechanism is a means and a way of directing, monitoring and measuring the SMEs resources. It plays an important role in preventing and detecting fraud and protecting the physical and intangible resources as well as leading to high efficiency of the business operation. one since it contributes a lot for the majority of business enterprise involved in SMEs. This study examines and describes the effectiveness of internal control systems in Swedish small and medium size enterprises. The study focuses on the main five components of internal control and their impact on achieving the company’s objectives. In so doing, the study creates a better understanding of effective internal control that may be applicable to the context of SMEs and establish theoretically the features of an effective internal control for sampled SMEs. To achieve this objective we formulate one research question: system of SMEs comply with the principles of effective internal control? into how closely SMEs follow the virtues of effective internal control in their business operation. Applying an inductive approach in qualitative interview, the study found out that, contrary to what is generally suggested, SMEs are aware of the importance of having a good internal control system. The findings of the research enabled the emergence of a theory grounded in the collected data. Indeed, the major features of an effective internal control system applicable for SMEs are found to be control activities, effective information and communication system, effective monitoring and evaluation system framework. Key words: SMEs, internal control, control environment, risk management, control activities, information and communication, monitoring and evaluation

With the conditions of new economy such tendencies as internationalization of firms, mi-gration of high skilled workers, growing importance of the knowledge and others become relevant. Having these contextual matters in mind, the authors of this thesis identify the beneficial aspects that are related to Diasporas' inclusion into the process of internationali-zation. In broad outline, this thesis is about the competitive advantage achieved by a firm which employs foreigners to work with the process of business expansion to foreigners' countries of origin. This competitive advantage is proved to manifest itself through the knowledge and competences embedded in those employed foreigners. The purpose of this thesis is to answer 'in what ways can Swedish SMEs benefit from Di-asporas' inclusion into the process of internationalization?' and thus fill the theoretical gap in the existent studies. In order to address the purpose of the research, a theoretical model which merges the research field of internationalization and Diaspora studies, considered the conditions of new economy, was constructed. With the help of this model, the role of Diasporas in the process of internationalization has been explored and explained. For the empirical study, the qualitative method was applied and semi-structured interviews were conducted in five different Swedish SMEs. The interview guide, which was based on the theoretical model and on the main research objectives, was used when conducting in-terviews with a number of management positions fulfilling participants, as well as Diaspora. The results of an empirical study showed that Diasporas can be efficiently used for compa-ny's expansion strategies and significantly benefit due to several reasons. First of all, fo-reigners, or Diasporas, can be considered as holding relevant knowledge base in regards to their home countries, such as language, culture, personal contacts, etc. At the same time, while staying in Sweden, they get to familiarize with the Swedish culture, social structures, and business opportunities, and establish diversified contacts. With regards to international business expansion, this knowledge of two-fold nature is proved to be highly valuable.

Introduction: Mass marketing techniques have dominated the marketing strategies implemented by companies worldwide. Media such as radio, television, newspapers, direct mail etc. were the ones carrying out the message to the large audience. The rapid growth of digital media opened new marketing possibilities for businesses, now the masses can be reached faster and more efficiently. The digital media capabilities can help businesses to spread viral messages to the mass market; like viruses. It is very powerful technique to be used to increase brand awareness of the organization. Problem: As Berthon, Ewing and Napoli (2008) stated in their work that the band awareness literature has focused almost only on large multinational brands, where SMEs were not taken into consideration. Therefore, it is interesting in current study to address the lack of research focused on the use of viral marketing by SMEs to increase their brand awareness. Thus this thesis aims to fulfill this gap in the academic research. Purpose: The purpose of the thesis is to investigate how Small and Medium-size Enterprises use Viral Marketing and what impact it has on their brand awareness, moreover, thesis also aims to identify how SMEs create successful Viral Marketing campaign. Method: The empirical data was collected through three interviewa with the CEOs and owners of organizations located in USA, Belgium and Sweden. There were two phone interviews with representatives of USA and Belgium companies and one face-to-face interview with the respondent from Swedish company. Frame of Reference: Frame of references used in this thesis consists of theories regarding Viral Marketing, Branding and Brand Awareness. The authors have summarized the frame of reference by developing a model that integrates viral marketing and brand awareness. The model will help us out when formulating questions and when analyzing the empirical findings. Conclusion: The authors have come to the conclusion that viral marketing does have an effect on brand awareness, but to different extend for different SMEs. In some SMEs the increased brand awareness is more clear and can be seen immediately, such as increased sales, increased frequency on the webpage and billions of viewers on their video campaign on Youtube, while others only got more friends on Facebook and small increase in sales then before the viral marketing campaign. This study points out that SMEs need to implement as many strategies as possible (slogan, jingle, symbols, slogan), but that is not enough. They also need to be unique, creative and clever when implementing a viral marketing campaign.

Small- and medium-sized enterprises (SMEs) in developing countries are reported to encounter difficulties in accessing to formal external financing resource. Banking systems in this category of countries are either under-developed or newly reformed. The purpose of this paper is to investigate whether SME financing in China, measured by SMEs per capita, is affected by local bank competition, measured by number of banks per capita or share of foreign banks. Control variables such as Gross Domestic Product (GDP), level of infrastructure and geographic location are also included in the regression models. The main findings are that: when disregarding the ownership of banks, bank competition has positive impact on SME financing across Chinese provinces, although the relationship is non-linear; and foreign banks do not significantly influence SME bank financing in China. The first finding generally support the conventional theories of industrial organization and the second one offers the basis for further arguments about the role of foreign banks in financing SMEs in China.

Background The internationalization of SMEs can be expected to gain further momentum because the world economy is becoming increasingly integrated with continued declines in government-imposed barriers and continued advances in technology   Purpose The purpose of this paper is to design a theoretical framework for the internationalization of Small and Medium Enterprises, research, analyst and discuss.   Theoretical Framework We have created a model of the internationalization of SMEs which includes four elements: Resource, Mode of Entry, Competitor and Marketing. We believe they are primary considerations for the SMEs to develop foreign operation.   Method We will use qualitative method in our research   Conclusion Optimize the allocation of resources, suitable way to entry foreign market, determine own Competitive advantage, positioning, decision making and controlling.

Small and medium-sized enterprises (SMEs) prevail in their business communities and constitute the base of many nations’ economies. As a reason it is vital that SMEs show their active engagement and relatedness of their CSR activities making them at the core of their business strategies, as well as maintain their role as responsible citizens in their communities.CSR activities and practices being mainly developed by large corporations impede the way they can be applied on their smaller counterparts; ultimately leading to different results. SMEs require different solutions and run in different settings, which afford them unique opportunities to become sustainable enterprises. The purpose of this paper is to investigate the level of CSR engagement in Småland, Sweden. The study was divided into two parts, social (community wise) and environmental. We aimed to understand the reasons behind engagement and non-engagement in this matter. Also, it was important to find a pattern for future development of CSR among SMEs. We relied on previous research conducted for SMEs around Europe, and compared mainly the results from Sweden to our research findings. This study was largely done by using the quantitative survey method, where a questionnaire was designed to collect the results. Descriptive and exploratory statistics is at the core of interpreting the results. Some of the findings were confirmed by previous research while the rest were either unprecendeted or surprising, both in a positive and negative way. The CSR involvement was highly related to the size of the companies, in total more than half of the companies were involved to some extent. The main reasons for involvement in local communities were ethical as well as to satisfy own employees. The reasons for non-engagement were due to lack of resources, time and money, but also the fact that many companies simply never thought about engagement. When it comes to the environmental part, the results showed that companies act very responsibly. They are also aware and compliant to legislations and have environmental policies. Again, ethical reasons were the main driving force behind environmental concerns for the companies, but also the enhancement of the image was a chief reason. In general, companies do not seem to find economical benefits behind the engagement in CSR and less than half of the companies that engage in social responsibilities today are planning on continuing in the near future. Social involvement is voluntary and companies choose to do it mainly because of ethical reasons. On an overall basis, the engagement of SMEs in social activities is quite weak to moderate, while in environmental engagement the results are to some extent more optimistic. However, we cannot allege that a handful of Smålands SMEs see the full business benefits of engagement and as a result they cannot be said to be working towards ‘doing well by doing good’. Policy makers, municipalities and larger firms need to support the SMEs in their further engagement.

Dans ce travail, la stabilité transitoire et l'amortissement des oscillations dans les réseaux électriques sont améliorés en utilisant la commande en ligne du SMES (Superconducting Magnetic Energy Storage) et du SSSC (Static Synchronous Séries Compensator). Les commandes proposées sont basées sur la théorie de la logique floue. Dans le cas du SSSC, elle est associée à la fonction d'énergie transitoire. Nous avons également associé une loi de type mode glissant pour éliminer le lien hors ligne entre la commande du SMES et le centre de contrôle des réseaux. Ceci permet un maintien du fonctionnement du régulateur en l'absence.de phase d'apprentissage. Le SMES et le SSSC sont connectés à un point intermédiaire d'une longue ligne qui relie deux parties du réseau. Une réalisation pratique du régulateur à été étudie et les mesures nécessaires pour la commande peuvent s'obtenir à partir du noeud auquel est connecté le régulateur. Afin de valider les commandes proposées, celles-ci ont été implanté en simulation sur deux exemples de réseaux : un réseau comportant une ligne et le réseau de New England. Les résultats obtenues montrent une amélioration considérable du temps critique d'élimination du défaut ainsi que l'amortissement des oscillations après le défaut. Notre méthode a également apporté une augmentation de la capacité de transfert correspondant aux lignes de transmission.