Resilience, in an organizational sense meaning the ability to withstand crises and disturbances, has become a keyword during the last ten years. It is associated with established activities like risk and crisis management and business continuity planning or with strategic management, but it allows for new perspectives and insights into the conditions for doing business. Applied to the whole supply chain it also provides tools for managing and aligning the logistics flows in an appropriate way. But why is resilience essential for success or survival? In context to the Swedish textile and clothing (T&amp;C) industry, the average number of firms that went bankrupt during the recent crisis (2007-09) escalated twofold compared to the average over 2000-10 due to tremendous pressure on the Swedish credit system. The structural industrial statistics also plummeted in these crisis years aggravating other inherent or internal problems as a ’ripple effect’. The small and medium sized enterprises (SMEs) were the most affected of all, facing major threats to their financial performance and ultimately to their survival, at times of economic crises. In such a context, study of organizational resilience (ORes), to survive and thrive becomes increasingly significant. To address this issue the thesis concentrates on understanding the resilience development process through crisis strategic planning in context to Swedish textile-related SMEs amidst economic crises. It investigates and answers how resilience development can be considered as a precursor for business success, how to develop and monitor resilience, and identifies its antecedents and key strategic initiatives and their differential degrees of influence. No prior studies describing organizational resilience and crisis strategic planning in an integrated processual approach using both short-term and long-term strategies through planning and adaptation were found in the literature. The thesis adopts a critical realist-grounded theory (CR-GT) approach along the metaphysical level as the structure for the resilience development process follows a causal relationship between the object (the organization), its structure (competences and strategies), the causal power (crisis strategic planning) for attaining an event/outcome (resilience) in a particular context (economic crisis). For addressing this issue of devising an outcome-based processual approach, a multivariate financial indicator called the Altman’s Z-score (used basically for calculating bankruptcy potential in firms) was used for quantifying resilience. For investigating the causal mechanism epistemological relativism along the grounded theory approach was chosen for theory generation. A mixed methodology was adopted based on quantitative statistical analyses, at first, followed by a detailed qualitative work based on surveys, interviews, case studies and secondary data for data triangulation. Analysis of data was conducted through certain thematic coding principles. A four-step hermeneutic spiral was followed by systematically combining the pre-understanding, empirics and extant literature to develop a theoretical framework through constant modification. Overall, the resilience development was highlighted along a processual framework adopted along the CR-GT view of causation. The findings are manifold. Firstly there is a need to develop economic resilience in SMEs to shift from just component-view to a more holistic systemic view of organizations, upheld by an integrated crisis strategic planning (CSP) approach, for facing dynamic environments. Secondly, the CSP process prescribed in the thesis is quite integrated and holistic, taking a view from all angles, viz. organizational structure (capabilities and strategies), processual approach etc. Such a resilience development process through CSP is based on a six-step process: (i) identification of environmental context, (ii) impact analysis, (iii) leadership analysis, (iv) capability analysis, (v) formulation/selection and implementation of strategies, and (vi) evaluation and review of strategic options, utilizing a suite of strategic tools and techniques and is particularly simple for application in an SME setting. Third, operationalization of such a causal mechanism based upon implementation of strategic tools is based upon using a multivariate financial indicator like Altman’s Z-score to outline the relation between ORes and business ‘health’, thus quantifying it. Finally, in order to develop a resilient organization it is important to engage and utilize effectively the key resources and assets (financial, material, social, networks) by developing dynamic capabilities (strategic and operational flexibilities, redundancy, robustness) and organizational learning (culture, employee wellbeing, attentive leadership and decision-making). These competences must be employed for the appropriate strategy development (selection, implementation, and evaluation) framed on both growth and continuity strategies, both planned and adaptive in nature. The research develops a holistic analytical framework of organizational structure for resilience development based on these two criteria. It also tests this framework for Swedish textile-related SMEs amidst economic crises. The findings in this contextual delimitation suggest that the resilient SMEs possess better financial resources, relational networks, operational &amp; strategic flexibilities. The economically resilient firms mostly showed planned resilience in economic crises based on long-term strategies through business continuity planning (BCP) and in terms of growth strategies through market penetration, diversification and transformational initiatives. These firms also showed better short-term crisis management (CM) through higher operational flexibility while the less resilient ones lacked in strategic readiness due to resource scarcity. This is beneficial for firms to understand the key areas in which to invest and develop a multistrategic CSP model, categorizing firms along different resilience types – planned or adaptive. / <p>Thesis for the degree of Doctor of Science in Technology to be presented with due</p><p>permission for public examination and criticism in Festia Building, Auditorium Pieni Sali 1, at Tampere University of Technology, on the 11th of October 2013, at 12 noon.</p>

This thesis concentrates on different production planning solutions for mass customised fashion with regard to machine setups. The purpose of this research is to reveal the significant aspects and challenges for SMEs that have to be considered when production steps need to be aligned to the mass customisation principle. Therefore a theoretical framework will approach the subject of production planning, as well as mass customisation. In addition, a case study will assure scientific support by developing and examining production planning solutions. The different levels of production set-ups induce the technological facilities that are indispensable for an integration of mass customisation. Finally it will be analysed and discussed whether it is feasible for an SME to invest in such a business strategy. Especially in a SME the boundaries between pure tailor- made customisation and pure mass customisation are often blurred, wherefore the findings should contribute to a clarification. Since mass customisation is a future- oriented concept, this paper is of definite interest to small companies, which intend to successfully achieve mass customisation. / Program: Master programme in Applied Textile Management

 This thesis aims at investigating how the supply chain management (SCM) practices of large enterprises (LEs) are utilized on small and medium-sized enterprises (SMEs). This has been argued by many authors as a gap in previous literature. Take the view from SMEs, the research questions are: Is it possible to increase the performance of SMEs in the supply chain of LEs? and How does the supply chain strategy of LEs and business strategy of SMEs match? They are all answered by an explorative case study research. A mature supplier in production services for its large customers is used as case in this exploratory case study. Semi-structured interview was carried out as the main way to collect necessary data, besides documentation and observation. The study presents the existing interaction and problems with the SME, encountered how it formulates business strategy and the lessons that can be learned. The research shows that communication is a key tool ensuring the efficiency of supply chain cooperation as perceived seriously by the SME. Besides, group communication is becoming more popular and efficient for partners in the supply chain due to the participation of multiple staffs in the projects and the issues need to be discussed and agreed among them. Although LEs have good impacts on SME’s performance, for example in delivery proportion and technical ability, the deeper kinds of interaction such as exchange of personnel, committed resources investment was not found in the cooperation. Generally, the SME perceives that the usual difficulties they confront are less bargaining power, barriers to satisfy new demands from customers and the changing in customers’ decisions. By carefully analyzing the characteristics of the SME, we suggest possible solutions such as being more active in deeper kinds of interaction with LEs, increase negotiation skills, constructing a separated unit responsible for SCM and establishing a long-term business strategy to ease these difficulties. Taking business strategy of SMEs as an object of the research, we found main parameters the company cares about to formulate its business strategy. Comparing with literature, we suggest the company paying attention in activities of competitive market as well as the ways to take advantage of supply chain management strategies of LEs when SMEs building their business strategy.

Σκοπός της εργασίας αυτής είναι να αναλύσουμε τους πιο σημαντικούς λόγους για τους οποίους ιδρύεται μια μικρομεσαία επιχείρηση με την χρήση του στατιστικού προγράμματος SPSS. Η δομή της εργασίας είναι χωρισμένη σε δυο μέρη. Το πρώτο μέρος αποτελεί το θεωρητικό "κομμάτι" των μεθόδων που χρησιμοποιούμε και το δεύτερο είναι το πρακτικό δηλαδή η εφαρμογή των μεθόδων που αναλύσαμε σε πραγματικά δεδομένα. Το θεωρητικό μέρος είναι χωρισμένο σε τέσσερα κεφάλαια. Στο πρώτο κεφάλαιο αναφέρουμε τις δυνατότητες του SPSS για την στατιστική ανάλυση μιας και δυο μεταβλητών ενός ή περισσοτέρων δειγμάτων καθώς επίσης και για το πώς μπορούμε να καθορίσουμε τη σχέση (αν υπάρχει ή όχι) μεταξύ τους. Πριν την αναφορά μας γύρω από τις μεταβλητές τονίζουμε κάποια σημεία στα οποία πρέπει να δίνουμε ιδιαίτερη βαρύτητα, και τα οποία είναι απαραίτητα στο αρχικό στάδιο επεξεργασίας των δεδομένων μας (καθορισμός μεταβλητής κτλ.). Στο δεύτερο κεφάλαιο κάνουμε μια πρώτη αναφορά γύρω από την Πολυδιάστατη Ανάλυση Δεδομένων τονίζοντας τη χρησιμότητα τους στις διάφορες επιστήμες, τον τρόπο με τον οποίο η ανάλυση αυτή "λειτουργεί" και τα κύρια χαρακτηριστικά της. Γενικά είναι ένα σύνολο μεθόδων οι οποίες ξεκινώντας από τα ίδια τα δεδομένα και χωρίς καμία υπόθεση ερευνούν τις τάσεις, τις σχέσεις και τις ομαδοποιήσεις τους. Στη συνέχεια αναλύουμε μια σημαντική μέθοδο την "ανάλυση των κύριων συνεκτικών συνιστωσών". Είναι μια τεχνική που έχει ως στόχο τη μείωση της διάστασης των δεδομένων διατηρώντας σχεδόν όλη την ολική μεταβλητότητα των αρχικών μεταβλητών. Η ανάλυση γίνεται με τη βοήθεια των μαθηματικών σχέσεων και βασίζεται στους πίνακες (δειγματικής) συσχέτισης, (δειγματικής) συνδιασποράς κτλ. Στο τρίτο κεφάλαιο κάνουμε μια προσπάθεια ερμηνείας της Παραγοντικής Ανάλυσης με δυο τρόπους. Ο ένας τρόπος είναι με τη βοήθεια της Γραμμικής Άλγεβρας, της Ανάλυσης και των πινάκων και ο άλλος με τη βοήθεια των γραφικών απεικονίσεων των σχέσεων των στοιχείων του πίνακα που αναλύουμε. Σκοπός της παραπάνω μεθόδου είναι να ομαδοποιήσει ένα μεγάλο αριθμό μεταβλητών σε ένα μικρότερο αριθμό σημαντικών μη παρατηρήσιμων τυχαίων μεταβλητών που καλούνται παράγοντες. Στο τελευταίο κεφάλαιο του θεωρητικού μέρους αναφέρουμε και αναλύουμε την Cluster Analysis η οποία είναι μια μέθοδος με την οποία επιδιώκουμε τη δημιουργία ομάδων, συνήθως ατόμων ή αντικειμένων με ομοειδή χαρακτηριστικά, ομάδες τις οποίες μπορούμε να αποκαλούμε και τάξεις. Και σ' αυτή τη μέθοδο κάνουμε δύό ειδών αναλύσεις. Το πρακτικό μέρος της παρούσας εργασίας διερευνά τους παράγοντες οι οποίοι επηρεάζουν την ίδρυση μιας μικρομεσαίας επιχείρησης (ΜΜΕ). Διεξήχθη εμπειρική έρευνα, ο δειγματικός χώρος της οποίας περιλαμβάνει 140 μικρομεσαίες επιχειρήσεις του νομού Σερρών. Τα αποτελέσματα αναδεικνύουν τη συμβολή και τη βαρύτητα μεταβλητών που σχετίζονται με: το προφίλ του επιχειρηματία (δημογραφικά χαρακτηριστικά, προηγούμενη εργασιακή και επιχειρηματική εμπειρία κ.ά.), τη διαδικασία ίδρυσης της επιχείρησης (πηγές άντλησης πληροφοριών, λήψη απόφαση, αρχική επένδυση, προβλήματα που παρουσιάσθηκαν κ.ά.), τα χαρακτηριστικά της νεοϊδρυθείσας επιχείρησης (αντικείμενο, νομικό καθεστώς, αριθμός απασχολούμενων κ.ά.) και τον 1ο χρόνο λειτουργίας (κύκλος εργασιών, πωλήσεις κ.ά.). Πιο συγκεκριμένα στο κεφάλαιο 5 αναλύουμε σχεδόν όλες τις μεταβλητές με τη βοήθεια της περιγραφικής στατιστικής και "επιμένουμε" λίγο περισσότερο σε εκείνες που αποτελούν τους παράγοντες ίδρυσης μικρομεσαίας επιχείρησης. Στο κεφάλαιο 6 περνάμε στο επόμενο στάδιο "εντοπίζοντας" σχέσεις ανάμεσα σε δυο μεταβλητές του ερωτηματολογίου. Το κριτήριο με το οποίο γίνεται ο έλεγχος είναι ο Χ έλεγχος ανεξαρτησίας και αναφέρουμε μόνο όσα παρουσιάζουν ενδιαφέρον (δηλαδή εκεί που υπάρχει κάποια σχέση ). Προχωρώντας στο κεφάλαιο 7 εισχωρούμε κατά κάποιο τρόπο στην Πολυδιάστατη Ανάλυση. Εφαρμόζουμε την Παραγοντική Ανάλυση με τη χρήση της μεθόδου των ισχυρών συνεκτικών συνιστωσών. Η εφαρμογή γίνεται πάνω στους λόγους ίδρυσης γενικά, μιας επιχείρησης. Αναφέρουμε αναλυτικά όλα τα βήματα και όλο το συλλογισμό μέχρι να καταλήξουμε στο τελικό στάδιο από το οποίο βγάζουμε συμπεράσματα. Και στο τελευταίο κεφάλαιο (8) πραγματοποιούμε την Cluster Analysis των 140 cases ώστε να μπορέσουμε να καταλήξουμε σε κάποια προφίλ επιχειρηματιών με συγκεκριμένα χαρακτηριστικά. Δηλαδή από την Παραγοντική Ανάλυση παίρνουμε κάποιες κατευθύνσεις, με τις οποίες σε συνδυασμό με την Cluster Αnalysis εντοπίζουμε συγκεκριμένους λόγους ίδρυσης μιας επιχείρησης για συγκεκριμένα προφίλ επιχειρηματιών. Τέλος , λόγω της εφαρμογής όλων των παραπάνω μεθόδων , προκύπτει ένας πολύ μεγάλος αριθμός πινάκων, ο οποίος ήτανε αδύνατο να καταχωρηθεί στην εργασία .Για το λόγο αυτό στο Παράρτημα έχουμε βάλει όλους τους πίνακες που χρησιμοποιήσαμε στο πρακτικό μέρος της εργασίας. / Aim of this work is to analyze the most important reasons for which is founded a small to medium-sized enterprise with the use of statistical program SPSS. The structure of work is separated in two parts. The first part constitutes theoretical "side" of the methods that we use and second is the practical that is to say application of methods that we analyzed in real data. The theoretical part is separated in four chapters. In the first chapter we report the possibilities of SPSS for the statistical analysis one and two variables one or more samples as well as for how we can determine the relation ([an] it exists or no) from each other. Before our report round the variables we stress certain points in which it should we give particular gravity, and which are essential in the initial stage of treatment of data our (determination variable [etc].) In the second chapter we make a first report round the Multidimensional Analysis of Data stressing their usefulness in the various sciences, the way with which this analysis "functions" and its main characteristics. In general it is a total of methods that beginning from himself given and without no affair searches tendencies, the relations and their regroupings. Afterwards we analyze an important method of the "analysis of the main cohesive components". It is a technique that aims at as the reduction of dimension of data maintaining almost the all total variability of initial variables. The analysis becomes with the help of mathematic relations and is based on the tables of a (sample) cross-correlation, (sample) codispersion etc. In the third chapter we make an effort of interpretation of Factorial Analysis in two ways. One way is with the help of Linear Algebra, Analysis and tables and the other with the help of graphic depictions of relations of elements of table that we analyze. The aim of the above method is to group a big number of variables in a smaller number of important non notable accidental variables that are called factors. In the last chapter of theoretical part we report and we analyze Cluster Analysis who is a method with which we seek the creation of teams, usually individuals or objects with similar characteristics, teams which we can call also orders. And in this method we make two types analyses. The practical part of present work investigates the factors which influence the foundation of small to medium-sized enterprise (SME). An experiental research was carried out, the sampling space of which includes 140 small to medium-sized enterprises of Serres' prefecture. The results elect the contribution and the gravity of variables that is related with: the profile of businessman (demographic characteristics, previous labour and enterprising experience Mr a.), the process of foundation of enterprise (sources of pumping of information, reception decision, initial investment, problems that were presented Mr a.), the characteristics of newly founded enterprise (object, legal regime, number of occupied Mr a.) and the 1st time of operation (turnover, sales Mr a.). More concretely in capital 5 we analyze almost the all variables with the help of descriptive statistics and we insist a little more in those that constitute the factors of foundation of small to medium-sized enterprise. In capital 6 we pass in the next stage by "detecting" relations between two variables of the questionnaire. The criterion with which it becomes the control is the H control of independence and we only report those who present interest (that is to say there that exists some relation). Advancing in capital 7 we penetrate at some way in the Multidimensional Analysis. We apply Factorial Analysis with the use of method of powerful cohesive components. The application applies on the reasons of foundation of an enterprise in general. We report the analytic all steps and the all reasoning until we lead to the final stage from which we draw conclusions. And in last capital (8) we realise Cluster Analysis the 140 cases so that we can lead to certain profiles of businessmen with concrete characteristics. That is to say from Fractional Analysis we take certain directions, with which in combination with Cluster Analysis we locate concrete reasons of foundation of enterprise for concretely profile of businessmen. Finally, because the application of all the above methods, results a very big number of tables, which it was impossible to be registered in the work. For this reason in the Annex we have put the all tables that we used in the practical part of work.

Syfte: Syftet med studien är att belysa faktorer som påverkar SMF:s marknadsföring samtidigt som studien söker att kartlägga innehållsmarknadsföringens tillämpningsgrad hos studieobjekten. Metod: I studien används den kvalitativa forskningsmetoden. Tio telefonintervjuer ut fördes på hälsokostbutiker i Stockholm, Göteborg och Malmö. Urvalsgruppen valdes utifrån ett bekvämlighetsurval. Slutsatser: Innehållsmarknadsföring tillämpas av tre av dem tio SMF inom urvalsgruppen. Metoden anses ha en låg tillämpningsgrad. Studien har framgångsrikt belyst faktorer som påverkar urvalsgruppens marknadsföring med hjälp av den teoretiska referensramen. Dessa faktorer är närverkande som marknadsföringsverktyg, empirisk omvärldskontakt som inlärningsprocess för marknadsföring, slumpmässighet i marknadsföringsplanering och resursknapphet som påverkande kraft i marknadsföringsplanering.

This research aims at understanding how business networks influence the commercialization of emerging technologies. It focuses on small and medium sized enterprises (SMEs) in the field of nanotechnology in the UK and aims to identify what types of networks they use for commercialization. It also examines how different types of networks can explain success or otherwise in commercialization with respect to the position of the SME in the value chain and the type of resulting innovation. Various streams of literature including debates on SMEs and innovation, open innovation, the innovation systems literature, and the industrial networks approach are used to develop a conceptual framework that guides this research. Using a case study approach, 23 Nanotech SMEs in the UK are investigated. Secondary data on firms are gathered from various sources including company websites and the FAME database. Primary data are collected through 40 semi-structured interviews with SMEs’ senior managers and key informants. Data analysis is based upon thematic analysis. The findings present a typology of networks based on a combination of network structure and actor roles, including six network types: incumbent-oriented network with reactive SME, incumbent-oriented network with proactive SME, SME-oriented network, broker-oriented networks, hybrid networks and interrupted networks. The findings indicate that a reactive approach towards networking is less conducive to commercialization, regardless of the innovation type or value chain position. SMEs can proactively create incumbent-oriented, SME-oriented or broker-oriented networks to facilitate commercialization. Incumbent-oriented networks with proactive SMEs are conducive to commercialization of both nanomaterials and nano-intermediate products and can facilitate commercialization of moderately and highly radical nanotechnology. SME-oriented networks are also conducive to commercialization of moderately and highly radical nanotechnology, but have been used for commercialization of nano-enabled products. Broker-oriented networks can facilitate commercialization of technologies or products developed in the upstream part of the value chain and are more influential in the commercialization of moderately or highly radical nanotechnology. Some Nanotech SMEs are simultaneously involved in more than one network type, i.e. have hybrid networks, pursuing multiple strategies for commercialization. All SMEs with hybrid networks have broker-oriented networks in common and in some cases the broker-oriented network has caused formation of other network types. Finally, the findings show how interrupted networks pose the biggest challenge for commercialization. The thesis contributes to the debates on SMEs and innovation and the gap on how open innovation is implemented within the context of SMEs and emerging technologies. This research also informs SME managers' strategies and choices related to participation in business networks. It provides further insights for policy makers regarding the networking behaviour of SMEs and contribution of various network actors to commercialization and in this way assists with devising policies for encouraging and facilitating collaboration for commercialization.

The management of work-family conflict is an important aspect within the context of family firms. Managing work and family domains successfully are often known to be an issue for members of family firms and may result in negative outcomes affecting both individuals and organisations. Organisational cultures supporting individuals in managing work and family domains is believed to reduce the level of work-family conflict and constitutes the focus of this study. Historically, most of the scholarly contributions within the field of work-family conflict and organisational culture are within a non-family firm context. This thesis contributed to current literature with in-depth insights on the family business concepts by relating it with work-family conflicts. Family firms possess unique characteristics that are different from non-family firms, making the management of work-family conflict more difficult. The study shows that the relationships between the components of supportive work-family culture and work-family conflict are factors that impede individuals’ ability to manage multiple roles satisfactorily. The findings of this study could be used to contribute understanding  in future research within the field of family firms and in connection to the management of work-family conflicts.

This thesis focuses on how small to medium-sized management consultancies internationalise, as this is an under-researched area. Investigation focuses on identifying the factors that facilitate international market success for these small to medium-sized enterprises (SMEs), the challenges they encounter, and how those challenges have been overcome. The relevance of SME internationalisation theories is explored for SME management consultancies in the UK. The study is exploratory, phenomenological and framed within an interpretive research paradigm. Primary data was gathered qualitatively using multiple (9) case studies, collected principally through semi-structured interviews. This empirical research, one of the first to focus solely on SME management consultancies, finds the owner/founders as the key driver of internationalisation. Their past experience enables an international outlook and brings established networks to firm formation. The findings highlight the relevance of intangible resources: the firms’ skills, competencies and networking capabilities, as integral to successful internationalisation. Additional key critical success factors are niche market specialisation, firm reputation, firm location, ability for service provision modification and the role of technology. There are observed firm size-related differences in the challenges these firms face, with smaller-sized firms being more vulnerable to challenges from the external environment, including the 2008 financial crisis. Firms are able to overcome these challenges with the help of their networks. Other challenges stem from the firm’s service provision: difficulty in finding skilled staff and communication with clients. The findings suggest applicability for other knowledge-intensive firms. The research contributes to closing the gap in literature on how firms successfully provide services internationally and in so doing advances theoretical understanding of SME service internationalisation. This theory-building research demonstrates partial relevance of Stage Theory, Networking Theory, and Born Global Theory, but overall the resource-based view was found as the most relevant to understanding the internationalisation process of SME management consultancies. This sets a foundation for further research on the internationalisation process of other knowledge-intensive firms.

Cette étude des pratiques RH dans les moyennes entreprises met en évidence l'influence significative des facteurs organisationnels et institutionnels. Dans le cadre de cette recherche, nous nous intéressons à ces pratiques à travers une approche intégratrice des théories mobilisées et montrons des particularismes en termes : 1/ de différenciation et d'hybridité structurelle, 2/ de légitimité institutionnelle et 3/ de complexité relationnelle.Reposant sur une méthodologie de recherche qualitative, l'étude empirique comprend 40 entretiens dont 13 menés dans le cadre de deux études de cas. Ces entretiens réalisés auprès de plusieurs acteurs RH permettent des comparaisons entre des moyennes entreprises de différentes tailles.À la lumière des spécificités des moyennes entreprises, nos résultats mettent en évidence une diversité des pratiques de RH. Notre recherche confirme l'intérêt d'une approche « non consensuelle » des pratiques de RH, celle-ci étant due au recul de la hiérarchie face à l'arrivée des managers. Nos résultats montrent aussi que dans les moyennes entreprises, les pratiques de RH sont personnelles, conformistes, pseudo-conformistes, pseudo-innovantes et innovantes. / This study of HR practices in medium-sized enterprises emphasizes on the significative influence of organizational and institutional factors. In this research, we examine these HR practices through an approach which integrates mobilized theories. We also point-out the specificities of these HRpractices in terms of: 1/ differentiation and structural hybridity, 2/ institutional legitimacy and 3/ relational complexity.Based on a methodology of qualitative research, this empirical study includes 40 interviews, 13 of which were part of two case studies. These interviews with different HR actors allow to make comparisons between medium-sized enterprises of different sizes.In light of the specificities of the medium-sized enterprises, our results highlight a variety of HR practices. Our research confirms that beyond the leader, there is a strong interest for a « nonconsensual » approach of HR practices, given that the hierarchy was forced to play a lesser role after the arrival of the managers. Our results show that in medium-sized enterprises, HR practicesare personal, conformist, pseudo-conformist, pseudo-innovative and innovative.

As pequenas e médias empresas desempenham um papel importante para a economia dos países, seja pela geração de empregos ou por sua participação no Produto Interno Bruto. No entanto, esse grupo de empresas enfrenta uma série de dificuldades quanto à obtenção de recursos para alavancar o seu crescimento e financiar seus projetos de longo prazo. Uma das alternativas é o acesso ao mercado de capitais, opção que deve ser incentivada e facilitada pelas instituições interessadas. Apesar da relevância do tema é possível observar a escassez de pesquisas relacionadas ao assunto, portanto, este trabalho pretende apresentar um referencial que possa colaborar com o crescimento e desenvolvimento da pequena e média empresa e com novas pesquisas nesta área. A pesquisa é quantitativa de caráter exploratória, não probabilística. Os meios de obtenção dos dados são: bibliográfico e pesquisa de campo, através de um questionário enviado para um grupo de gestores de pequenas e médias empresas emergentes. Os resultados sugerem que esses gestores possuem conhecimento sobre diferentes fontes de financiamento, sobre mercado de capitais e Governança Corporativa. As empresas pesquisadas são de capital fechado e a maioria não pretende abrir o capital. Dentre as que pretendem abrir o capital ou não desconsideram essa possibilidade, os resultados apontam que elas estão se preparando para futuro acesso ao mercado de ações, mas os seus gestores apontam os custos, principalmente os relacionados ao processo de IPO como principal barreira. Os resultados sugerem vários fatores que podem colaborar com as PMEs, como incentivos fiscais aos investidores e presença de um assessor. Indicam também que esse grupo de empresas em crescimento pretende prosseguir com suas estratégias de crescimento, aplicando os recursos obtidos em tecnologia, inovação e busca de novos mercados. O trabalho possui aplicabilidades práticas por trazer informações que podem sem utilizadas por gestores que desejam buscar novas formas de financiamento para seus projetos e colaborar com o aprimoramento do segmento da bolsa voltado para pequenas empresas com potencial de crescimento. / Small and medium-sized enterprises play an important role in the countries\' economy either by generation of employment or for their share in Gross Domestic Product (GDP). However, this group of companies face a range of difficulties related to obtaining financial resources to leverage growth and to finance long-term projects as well. To have access to capital market is one possible alternative, which needs to be encouraged and facilitated by interested agencies. Despite the relevance of this issue we can observe a few studies related to this subject. Therefore, this work aims to present a framework that can collaborate with the growth and development of small and medium-sized enterprises, in addition to encourage further researchs in this field. This is an exploratory study with a quantitative approach, non-probabilistic. The means used to obtain the data were bibliographic andfield research by way of a structured questionnaire which was sent out to an emerging enterprises\' group of managers. The findings suggest that the managers have knowledge on different sources of financing, as well as, capital market and Corporate Governance. The researched firms are privately-held companies and most of them don\'t intend to open up their capital. Among those firms which intend to open up their capital or not disregard this possibility, the results point out that these firms have been getting ready for a possible initial public offering in the future, but their managers consider the costs, mainly those related to the IPO process, the main barrier. The results also suggest that many factors can contribute with SMEs, such as tax incentives to investors and assistance from an advisor. The findings indicate that this group of growing firms intend to proceed with their growth strategies, applying resources in technology, innovation, and new markets. The work has practical applicabilities, the results can be used by managers who wish to access new sources of financing and cooperate with the improvement of the stock market segment for small and medium-sized businesses with potential growth.