The Master´s thesis deals with the social responsibility of organization with focus on small and medium-sized enterprises. The aim of this thesis is to analyze the level and attitude of corporate social responsibility in these enterprises. The theoretical part is to introduce concept of tripple-bottom-line, history, current trends and advantages and disadvantages of CSR. This part of thesis also includes implementation and measurement of CSR activities with subsequent reporting and information support. The practical part deals with the research of the social responsibility in small and medium-sized enterprises in Czech Republic. In the conclusion of the practical part are summarized recommendations and proposals for SME.

This thesis examines asset pricing and capital structure of small- and medium-sized enterprises (SMEs) in three essays. Firm finance and asset pricing are areas of voluminous research in the literature. Most of this research observes firms trading on public stock exchanges. In my thesis, I examine privately-owned SMEs where relatively little research has been done. I use a proprietary database of over 16,000 SMEs that sold from 1990 to 2010, reporting market valuations and accounting information. My findings contribute to the literature on asset pricing and capital structure of private firms that benefits researchers, entrepreneurs, investors, and analysts. The first essay examines whether the size effect in returns found in traded stocks is present in SMEs. The size-effect literature generally observes listed firms and finds that smaller firms tend to have higher returns. Using the SME database, I document the size effect in private firms using market valuations. I also find the size premium is concentrated in smaller SMEs. In firms smaller than $2.5 million in market value, the size effect is nearly 13 times stronger compared to larger firms. The second essay explores the effects of investor sentiment and marketwide liquidity in SME returns. Prior studies find these factors have effects in returns of listed firms. I find that SME returns are negatively related to sentiment and liquidity. As sentiment or liquidity rise, SME returns tend to fall. This study also finds that the effects of sentiment and liquidity are concentrated in smaller firms and weaken or disappear in larger SMEs. Apparently investors in smaller SMEs are more influenced by sentiment and liquidity. I also find that sentiment and liquidity have conditional effects on the magnitude of the size premium. The third and final essay examines SME capital structure. Firm capital structure has been one of the most contentious issues in finance theory for over 50 years. Relatively little research examines private firm finance and no previous studies to my knowledge have examined SME capital structure using market-based leverage ratios. I examine relations between leverage and capital structure determinants suggested by theory using market-based and book-value leverage ratios. I find support for both the trade-off and pecking-order theories. This study also finds that SMEs tend to use short-term debt much more than long-term debt and firms appear to practice maturity matching where managers tend to match borrowing terms with asset life. Evidence also suggests that capital structure determinants suggested by theory have greater explanatory power for market-based leverage ratios than for ratios based on book values.

This master thesis aims to explore the conditions of small and medium-sized enterprises in expanding to foreign markets and to find opportunities that will help these businesses to grow. By opportunity it is meant the company's own effort, or state and non-state support of SME's. In the thesis there is analyzed the situation of SME's in the Czech market and the services and support that businesses can use while expanding abroad, it also analyses the modern methods in this area. The aim of the thesis is to analyze trends in the field of internationalization of SMEs, to identify the key needs of Czech companies and to compare them with the actual support offered in the Czech market. Based on a comparison with foreign practice, namely New Zealand, it should propose new ways and opportunities in the process of expansion.

Klein- und mittelständische Unternehmen (KMU) sehen immer mehr den Herausforderungen und Chancen einer nachhaltigen Produktentwicklung entgegen, da die Entwicklung und Herstellung von Produkten zwangsläufig mit Umweltaspekten verbunden sind. Eine gute Anwendung von Methoden und Werkzeugen bestimmt so mitunter über Erfolg und Misserfolg eines Produktes als auch dessen Nachhaltigkeit und ist damit zentrales Element bei der Entwicklungsarbeit. Somit bestimmt eine dauerhafte Integration von Werkzeugen eine langfristige Wettbewerbsfähigkeit von Unternehmen. Da die geringeren Kapazitäten und Rahmenbedingungen von KMUs jedoch eine Barriere bei der Integration von Methoden und Werkzeugen darstellt, wird ein Ansatz beleuchtet, der mit Zuhilfenahme von Filtern bei der passenden Auswahl von Methoden und Werkzeugen Unterstützung bietet. Es werden Hemmschwellen und Erfolgsfaktoren bei der Anwendung von Methoden und Werkzeugen beleuchtet und ein möglicher Prozess skizziert, um die Integration zu fördern, die Mitarbeiter des Unternehmens zu schulen und langfristig die Anwendung von Methoden und Werkzeugen zur nachhaltigen Produktentwicklung in KMUs zu implementieren.

The intention of this thesis is a strategy suggestion and a work out of a plan for small distributional company to enable it to keep its trade position, its competitiveness and that it would show sustainable development.

Improved use of resources is of enormously high relevance and crucial for achieving as well as maintaining a sustainable condition. Especially industrial production has a superior responsibility in creating a long-term viable way of living. However, there is a lack of systematic evaluation procedures for operational resources in production systems, meaning product material, energy, equipment and humans. Especially small and medium-sized enterprises, representing the largest number of all companies in Europe, are mostly not able to deal with these kinds of issues in addition to their daily business. The purpose of this licentiate thesis is the investigation for and development of an evaluation approach for resource efficiency and effectiveness in small and medium-sized enterprises. Two literature reviews and one industrial case study have been carried out. To start with, the first  literature  review  founds a theoretical  basis  for  the meaning of resource efficiency and effectiveness. The second literature review investigates latest measures and approaches for production system evaluation. In the next step an evaluation approach for resource efficiency and effectiveness evaluation in small and medium-sized enterprises is developed and tested within a single case study. The result consists of a comprehensive approach for small and medium-sized enterprises with focus on economic short-term and long-term improvements. / <p>QC 20140416</p>

The Covid19-pandemic may have impacted the environmental strategies of firms as it has had a major impact on the world economy and businesses. In particular Small and Medium Sized Enterprises (SMEs) as during prolonged economic downturns they suffer disproportionately which could be due to lack of key resources which bigger firms naturally have more of, such as access to bank loans, technological, managerial, and human resources. Nevertheless, the Covid19-pandemic does not make the current environmental crises any less important therefore it is imperative to explore how firms’ environmental strategies have adapted during this time. The purpose of this study was to examine what happens to environmental strategies when firms experience harsher financial conditions. This have led us to construct the following research question:“How do SMEs adjust their environmental strategies during crises?”In this paper we answer the research question by analyzing the effect Covid19 has had on the environmental strategies of Swedish SMEs’ environmental strategies during Covid19. In order to achieve the purpose of this study we performed a qualitative study with an exploratory approach by interviewing seven different Swedish SMEs within the construction industry. The key findings this our study produced was that the firms’ environmental strategies remained resilient as no firm decreased their focus on environmental strategy nor did they view this aspect less important. Rather some firms intensified their environmental strategies suggesting that this might be a viable strategy to survive a crisis.

Background: Covid-19 has accelerated digitalization and pressured companies across multiple sectors to digitally transform their operations. Such adaptation requires businesses to rethink and change their existing business models, thus, business model innovation (BMI). Small- and Medium-sized Enterprises (SMEs), whose success is highly dependent on their experimentation and development of new technologies, are struggling with this adaptation.   Problem: SMEs, the heart and backbone of economic growth, struggle with implementing digitalization due to their lack of awareness, evaluation, knowledge, and resources. Regardless of their struggle, they are now forced to change their structures and business models. While there is an abundance of research on the impact of digitalization on BMI those studies rarely focus on how the acceleration of digitalization has influenced SMEs BMI.  Purpose: The purpose of this research is to explore how the acceleration of digitalization has impacted BMI of Swedish SMEs. The findings from this research are expected to contribute with academic value to the theoretical fields under investigation, Swedish policymakers, and business authorities, along with providing guidance for individual SMEs.  Method: This study has an exploratory approach, an inductive design within the interpretive philosophy. To collect the primary data, ten qualitative semi-structured interviews were conducted with business developers who possessed strong expertise and knowledge within the investigated fields. The data analysis followed Charmaz’s (2006) constructivist grounded theory, which emphasized a coding process including initial and focused coding.   Conclusion: The empirical findings shed light on important attributes and actions for a successful BMI which set the basis for the proposed model. The 6-step model explains the process of how an SME can successfully adapt and change under external pressure, such as the acceleration of digitalization and a crisis like Covid-19. The 6 steps include Create Awareness, Develop a Clear Strategy, Acquire Knowledge, Develop an Organizational Culture, Pursue Experimentation, and Implement the New Business Model. This process is not only crucial for a business’ competitive advantage but rather for its survival.

Purpose: This purpose of this study is to deconstruct market orientation to explore how culture interrelates with conduct and value-creating innovation and its effect on performance. The authors suggest that market orientation is an organizational identity that can be built and managed for sustained competitive advantage.Design/methodology/approach: The authors use a split sample of 553 Canadian small- and medium-sized enterprises (SMEs) in both the manufacturing and technical service sectors. Hierarchical moderated regression analysis is used to test the main hypothesis that culture moderates the relationship between conduct and innovation. Support for the respective hypotheses is determined by the statistical significance of each focal variable.Findings: The study finds that culture does in fact moderate the relationship between conduct and innovation but only in service firms, not in manufacturing firms.Research limitations/implications: Theoretical implications include establishing support for the main premise of the paper, namely, that market-oriented culture interacts with the behavioral component of market orientation influencing the firm’s ability to create value through innovation.Practical implications: Managerial implications include the refinement of the many conceptualizations of the innovation construct by establishing innovation as value-creating. It also provides insight on how firm culture relates to the systems and processes used to operationalize both a market and innovation conduct within the firm.Originality/value: This paper provides a unique insight into the marketing/innovation interface, specifically in the context of SMEs.

Purpose: The purpose of this paper is to offer small to medium-sized organizations (SMOs) with global business aspirations an innovative approach to performance measurement and management. Design/methodology/approach: The first phase of this research is based on a literature review. The second phase capitalizes on the literature review to offer a conceptual framework aimed at improving the performance measurement approach utilized by SMOs. The advocated approach stresses performance measurement, benchmarking, and effective implementation. Findings: The conceptual approach offered in this study represents the main outcome of this applied research. The advocated approach integrates several frameworks in an effort to address practical concerns related to performance measurement, management, and improvement. Research limitations/implications: The research offered in this study has practical and theoretical implications. The proposed approach offered by this study should be refined and validated through future research. Practical implications: The approach presented in this study offers practicing managers a systematic and practical approach to performance measurement, management, and improvement. Originality/value: The approach offered in this study capitalizes on several methodologies and tools to offer managers a benchmarking-based performance management approach suitable for SMOs with global operational aspirations.