Abstract: "In oder to achieve its economic goals (sustainable growth, healthy competition, and economic development), the E.U. has focused on creating and developing small and medium enterprises (SME). Therefore, it is not surprising that they represent 99% of all companies operating in the E.U. countries. They also provide 85% of all private sector jobs and 54% of added value (European Commission, 2016)1. Unfortunately, many of these kinds of companies have a short life span due to a lack of managerial competency. Taking all this information into account, we have conducted a research regarding the types of training that are available to SME's, with all their pros and cons, in the Romanian business environment and we identified several strategies that can be implemented in these companies in order to develop managers and employees, thus creating the necessary conditions for these companies to grow."
Keywords: SMEs, entrepreneur, training, human resources, learning, strategy.
1.The development and training of human resources in small and medium companies
Entrepreneurship has a vital role in a country's business dynamic, and, so, its development requires an appropriate economic, managerial, judicial, cultural, and social context. With regard to Romania, we will be analysing the HR training and development activities and look for the adequate strategies which will sustain the evolution of Romanian SMEs. Our study is predicated upon the existence of a direct relationship between the training of employees and the company's performance indicators, as evidenced by studies published approximately ten years ago (Delery and Doty 19962; Becker and Huselid 19983). Several researches studies (Beaver, 20024, Mazzarol, 20045) have shown that SMEs deal, early on, with difficulties regarding the managers' strategic thinking, which, in the long run, affects the enterprises' competition level. It is estimated that only 27% of SMEs have a bigger than five years life span (Rann 2006).6 Taking this into consideration, there is an obvious need for innovation, knowledge transference, and the improvement of managerial skills which would maximize the chances of survival and development of SMEs (Kearns, 2002)7. That is why, using both theoretical approaches and successful practices, we will look for those education and training strategies that will work in all the stages of a business' life cycle: start-up, crisis and/or survival, growth and/or expansion, export and/or globalization.
As we already know, the development and training of employees refer to the process through which the transfer of knowledge, skills, and abilities is conducted (KSA- knowledge, skills and abilities) in order to carry out specific tasks; therefore, the benefits of these activities become strategic and their results are amplified for both employee and company.
According to the opinion of HR managers, the beginning of the 21st century has brought on several important challenges regarding training and development of employees (Stavrou, Brewster and Charalambous 2004).8 If we want to meet these new demands coming from the business environment, we will use to a wide array of training and development which are adapted to the current tasks and which improve performance and client satisfaction. At the same time, there will be a focus on developing careers and increasing individual, group, and organisational efficiency. A well planned development and training program starts from the necessary level of knowledge, skills, and abilities that we use in order to achieve organisational goals and create competitive edge (Peteraf 1993).9
In order to get a clearer picture with regard to the area of employee training, we will take two major categories into consideration:
- formal or structured training: this follows a pre-determined plan, is organized and led by an expert, while also being monitored and recorded by a training supplier (Dawe 2003)10. The objectives of this kind of training are clear and focus on the knowledge and skills which need to be addressed.
- Informal training: as opposed to formal training, the informal category is carried out by the employee himself (i.e. learning by reading books). This type of training occurs when there is a circumstantial or random need for learning (mentoring). Informal training is certainly an important instrument in learning and education and it is utilized by SMEs everywhere (Figgis et al., 2001).11 In fact, the concept of informal focuses on two key aspects: expected results and the level of guidance given to the people who are learning. Depending on the case, the expected results can or can't be specified ahead of time (like in the case of a team that was constructed solely to solve a problem created by direct activity). At the same time, the guidance of the learner can be accidental (as in the case of conversation, mentoring process or networking). In this case, there is no plan and no fixed objectives. Informal learning also includes everything that an employee learns from his, manager, supervisor or colleague, but also from his family and social circle. It can be accidental, as in the case of acquiring skills and values through observation or receiving coaching from a superior or colleague.
This classification isn't always easy to make, as both types of training usually meet and complete each other. When there's managerial support or a cultural organisation that is based on education, the value, utility and efficiency of training is always amplified (Figgis et al. 2001).
In SMEs, informal training is often preferred, without excluding formal training and development or learning on the job (Kearney 2000)12. There are cases in which small and medium companies use both training systems (Figgis et al. 2001)
2.Training investments in romanian SME's
Over the last few years, Romania has had a steady economic growth, as evidenced by several key economic indicators. Here are a few of the country's results in 2015: (Popa I. & collab, 2016).13
* The Gross Domestic Product - GDP has increased by about 3.7%, one of the most accelerated rates in the E.U;
* The gross industrial production has increased by 2.4%;
* Exports have surpassed 54,6 billion Euros (with an increase of approximately 4% in one year);
* Inflation rate has hit a historic low, at 0.7%;
* Unemployment rate has decreased to under 7%.
In order to provide further evidence to these statements, we will bring forth several new arguments regaring GDP, work productivity and unemployment rate.
* The evolution of GDP in Romania
As we already know, the Gross Domestic Product is a macroeconomic indicator which reflects the sum of the market value of all goods and services destined for final use that are created in a country's economic system in a single year. It is calculated as a sum of:
- expenditure referring to consumption made by private households and non-profit organisations,
- expenditure referring to investments,
- government expenditure,
- investments referring to deposits,
- earnings made from exports sutracted by expenditure referring to imports.
The formula to calculate the Gross Domestic Product is:
GDP = private expenditure+government consumption +investments +(exports-imports)
In the graph below, we can see the evolution of the level and structure of the GDP.
* The level of work productivity
This indicator is especially relevant when considering the current status of an organisation, a system, and the national economy. It can be influenced by many factors, one of them certainly being the level of managerial competency. In the table below, we can see Romania's current status when compared to other European countries with regards to the GDP level.
* The evolution of unemployment rate
Creating and mantaining the level of available jobs is a desirable objective from an economic and social standpoint. The globalization of business, coupled with the evolution of technology have had many benefits, but have also generated a certain level of risk regarding job security. Unlike other European countries, Romania has not been confrunted with a growing unemployment rate in recent years. Still, the situation is carefully observed and there is a permanent concern with keeping unemployment rate under control, while also changing its structure (by eradicating the high unemployment rate among young people).
In the table below, we can seesome of the information which allow us to get a better view of the unemployment rate dynamic, plus a comparison between Romania and the E.U. average.
As we can see in the table above, the unemployment rate has oscilated 6,5 and 7,2%, under the E.U. values, which is, obviously, a favourable aspect.
This is owed to the fact that the entrepreneurial field creates a high number of jobs. Beyond their economic contribution, SMEs have a vital role in increasing the rate of workforce occupation. For example, we know from o survey conducted among small and medium Romanian enterprises that this sector helps create a high number of jobs in the conomy. In order to reaffirm this statement, we look at a study conducted by Popa (2016), according to which 0.84 people have been hired as an average, while only 0.55 have left an organisation. Thus, there is a 0.29 average increase in the workforce occupation for each SME.
This phenomenon is not unique to Romania, but rather it is a situation encountered in many other European countries. Many such SMEs have surfaced, with many of them consolidating and becoming influential in the market as a result of several factors. Out of these factors, we focus on one, which is the favourability of the business environment in our country.
In the table below, we find several numbers indicating the favourability of the Romanian business environment, as compared to other countries.
The development and efficiency of Romanian SMEs is often influenced by the deficit of competencies and, implicitly, by the low percentage of training programs that would allow the sharing, forming, and consolidation of desired skills, attitudes and knowledge. Here is some information which reflects the training activities focusing on Romanian SME's human resources (they are the primary client of training and development suppliers, considering the fact that two thirds of the total number of employees are hired in SMEs in Romania) between 2009-2015:
* The number of companies that have not had any training programs is 2.14 times greater (from 35,25% in 2009 to 75,62% in 2015);
* The percentage of organisations that have intensely focused on a high level of human resources training and development (over 10 days of training) is 10.48 times lower in 2015 compared to 2009 (1.17% versus 12.27%);
* the 2009-2013 interval was characterized by the higher number of companies that did not allocate a single day of human resources training, but also by the decrease of percentage of organisations that have dedicated 1-5, 6-10 or over 10 days of training per year. 2014 and 2015 reveal a similar average at the SME level, with the exception that there was a 60% increase in percentage of SMEs that have allocated 1-5 days of training during that year.
We can, therefore, safely conclude that the SME training dynamic over the last seven years did not have a positive impact on the managers'/employees competencies and on the performance levels of this particular sector, on which Romania's economic and social development is dependant upon. We can easily see this from the table below:
As we have already stated, Romanian SMEs employ over 66% of total workers. Their interest in training is reflected in the table below, where we can see the evolution of the average training days per employee per year between 2010 and 2015.
3.Strategies in the field of training and development of human resources in SMEs
When we talk about training and development strategies for human resources in SMEs, we want to focus on the necessity of taking coherent measures that will sustain human competencies regarding long term business objectives. The dynamism and diversity of the types of activities, along with internal and external conditions lead, as expected, to different strategic choices. Our intention is to identify as many options as possible, while also evaluating their consequences. This way, the managers that are preoccupied with the evolution of their company can have an extra source of inspiration and a solid support upon which they can make informed decisions.
Before formulating any possible directions, we want to first underline the fact that small enterprises need to use both informal and formal trainings going forward.
Now, we will present some of the solutions that SMEs can opt for, depending on their activity, their economic stability and the managers' and owners' philosophy regarding business in general:
* Business Mentoring: this concept refers to a deliberate association of people with extraordinary skills and experience. Through this association, people with a higher degree of know-how and experience choose to facilitate the development and competency of people with a lower degree of experience and skills. There are two main approaches in this case: one-to-one mentoring and business aptitude training, which involves workshops, guest speakers, networking, and business discussions. Gordon Consulting (1996)16, a company that offers this type o support, talks about volunteering mentors in business. They have the objective of talking about their own experience, as well as stimulating an honest, open conversation, both in large groups and among partner mentors. The exchange of ideas with the other partners, coupled with role playing exercises is considered extremely useful in creating valuable business mentors.
* Networking: this concept refers to people who decide, out of their own volition, to act together in order to accomplish something they cannot do on their own. Any activity conducted via this medium is usually guided by individual needs. Unlike networks, clusters (which are also a type of network) work short term and facilitate the solving of concrete tasks or urgent matters which involve all participants.
Business networks are extremely important for the informal development of SME employees. They allow for the distribution of knowledge and experiences, thus reducing training costs for SMEs.
* The Collaborative Learning Group. In this case, companies work together to improve employee skills at a lower cost. The interest for this type of training strategy derives from the cost benefits created by scale economy (by dividing the training programs). Furthermore, this strategy facilitates the access to programs which are adapted to company needs. Studies have shown that this type of training gives SMEs access to high quality training at a reasonable price. This is possible by creating the context through which they can access bigger companies' training resources, thus developing their employees' skills. Frequently, companies who collaborate with the aim of increasing employee competencies decide to work in a certain sector, domain, supply chain or cluster. In this case, there are two types of collaboration models: the hub and spoke approach, through which a large company handles the development of smaller companies' activities (i.e. supply chain), and the cooperative approach, in which small companies work together in a mutually beneficial fashion, by providing mentorship, sharing competencies and training programs, plus the necessary skills needed to maximize their chances of winning bids and contracts. There are four categories of skills based collaborations between companies: the local are - in a similar or connected field; the local area - in distinct fields; the national industry field and supply chains.
* The Act of Learning: according to Kearney (1999, 2000)17, networks and clusters frequently use learning strategies, but this approach is dependent upon stakeholders, who manifest a tendency of blocking this process. The act of learning involves a group of stakeholders which is divided into teams. Each team gets a problem which is directly related to work issues. The team gathers information in order to formulate hypotheses which they can, then, test in real conditions. Later, participants reflect on the process and results, they adjust the initial solution and the process is repeated regularly. By following the principles of the act of learning, notable results can be obtained in very different circumstances.
* Diagnostic and Benchmarking. The concept of diagnostics involves an evaluation process which offers a structural direction through which the company's performance can be improved, while also managing to better predict results and identify key points of attention. Kearney's (2000) opinion is that, when final consumers are involved in the design and validation of analysis instruments with regard to business needs, this analysis becomes a useful way of making connections between training and business needs. Regarding Benchmarking, it is seen as a strategy meant to help small companies have a more structured approach in relation to training and learning (Kearney 2000). Benchmarking can play a key part in shortening and amplifying the connection between the analysis of business needs, training solutions and business results.
* Other Possible Strategies
Among them, we focus on:
- Vendor training. This strategy originated in the IT field, where the supplier of equipment and software is called a vendor. The concept of Vendor training emerged, referring to induction training, offered by the supplier at the workplace. It is, essentially, a formal training program and can last anywhere from a few hours to a few days, depending upon the complexity of the equipment. This initial training, supplied by the equipment's vendor, is included in the cost of acquisition. When the initial group has been trained, then it is usually their task to informally disseminate the information to other employees.
- E-learning. Its impact has been closely monitored by several studies. Smallbone, Supri and Baldock (2000)18 reveal the importance of utilizing software tutorials sent by vendors or by other training suppliers (via e-mail, CD's, or directly to the website). This allows for a greater flexibility in terms of delivering training programs, which is quite valuable for a small company. Ward and Bennet (2004)19 have spent years working with small enterprises and they have identified the training needs, but also the barriers created by technology and the way in which skills and competencies can be best applied within the business.
- Collaborative Learning Partnerships. Mitra (2000)20 has taken a look at the learning process, with a focus on group learning, and took a special interest in the area of regional cluster innovation. This author also points out the fact that innovation is often the result of interaction between technologies, employees and organizations, while also being amplified through learning. Meanwhile, it is his opinion that SMEs are more inclined to innovate when being part of clusters because, through the relationship process and management externalization (a key element for clusters), they are able to develop new processes, products, and services.
- Coaching on the Job, or learning from others. Many entrepreneurs take on the role of managers and coach their employees, give them advice, and point them in the right direction. This strategy can have spectacular results when the manager is skilled and the size of the company is quite small.
- Learning from colleagues (from equals) is a strategy which can be applied in a company who wishes to share experiences, knowledge, and skills. Furthermore, collaborative learning is used in many situations in which supervisors/managers utilize coaching in order to improve the level of innovation from within the organization.
- Learning in family businesses. In this case we can talk about specific learning problems and needs, especially when considering the transition from ownership to management. In the case of family businesses, the risk of their disappearing is high, with one solution of their survival being that all the family members go through a learning and training process through which they can generate new ideas and work methods.
- Job rotation. In essence, we are referring to an indirect strategy used by many companies in order to develop skills. In many European countries, this approach managed to decrease the level of job occupancy and increased the level of competencies by offering financial packages. This way, SMEs were compelled to include training programs for unemployed people so that they can be used to substitute employees that were absent for one reason or another.
Conclusions
This present paper has the objective of offering solutions through which to maximize training and development of human resources to those who are interested in the development and consolidation of SMEs in Romania.
The analysis of opinions as expressed in specialized literature, coupled with observing current practices in many Romanian SMEs, allow us to formulate a few viewpoints:
* SMEs who have a clear image of the way in which their employees learn have a better chance of reaching their goals. According to specialists, for one such firm it is more difficult to allocate formal or direct training. More often than not, managers and employees learn from their own experience and through the means of social networks. Furthermore, the opportunity to connect through such networks offers the possibility of critical reflection regarding their own business as well as the level of knowledge and experience. Having said that, the importance of formal training should not be ignored.
* As we have already stated, people who are involved in small businesses prefer informal training within the organizations, but they can also take positive aspects from formal training which they can, then, use in workplace training programs (i.e. better organization, a higher degree of planning, etc.)
* Training and development strategies which use more than one formula have better results than those focused on a single approach.
* When managers are worried about training costs, they can choose cheaper options such as business mentoring, workplace coaching or they can get spectacular results by collaborating with other companies (i.e. supply chains and clusters) in order to allocate formal training for themselves and their employees. At the same time, according to cu Kearney (2000), small enterprises can use informal means such as learning on the job or using business networks which provide the necessary tools for many small businesses simultaneously.
We've presented, throughout this article, several options that SME managers have, while also discussing the advantages and disadvantages of each solution. There is one condition that we did not present when it comes the success of a business and it is very important: in order to create and implement a sound strategy, it is essential that we have a great deal of motivation in achieving personal growth, while also finding a consensus with all parties involved in order to have a durable, sustained business evolution.
1 http://ec.europa.eu/growth/smes/, European Commission, 2016
2 Delery, J.E., Doty, H.D., Modes of Theorizing in Strategic Human Resource Management: Types of Universalistic, Contingency, and Configurational Performance Predictions, Academy of Management Journal, 1996, 39, 4, 802-835. https://arwana007.files.wordpress.com/2012/02/modes-of-theorizrng-rn-shrm.pdf
3 Becker, B.E., Huselid, M.A., High Performance Work Systems and Firm Performance: A Synthesis of Research and Managerial Implications, in Research in Personnel and Human Resource Management, Greenwich, Ed. G.R. Ferris, CT: JAI Press, 1998, pp. 53-101.
4 Beaver, G., Small Business, Entrepreneurship and Enterprise Development, Edinburgh, Pearson Education Limited, 2002, https://books.google.ro/books?hl=ro&lr=&id=fppDtj9bme°C&oi=fnd&pg=PR9&dq
5 Mazzarol T., Strategic Management of Small Firms:A Proposed Framework for Entrepreneurial Ventures, 2004, http://www.cemi.com.au/sites/all/publications/Mazzarol%20SEAANZ04%20pap er.pdf
6 Rann, M., 'International expert to help small business', in news release for The Advertiser, Monday, 6 November, 2006, http://www.thinkers.sa.gov.au
7 Kearns, P., Are two worlds colliding? The provision of training and learning services for small business, CVER, delaide, 2002, http://eric.ed.gov/?id=ED473179
8 Stavrou, E., Brewster, C., and Charalambous, C., 2004, Human Resource Management as a Competitive Tool in Europe, working paper, London: Henley College, http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.558.246
9 Peteraf M. A., The Cornerstones of Competitive Advantage: A Resource-Based View, Strategic Management Journal, Vol. 14, No. 3. (Mar., 1993), 1993, pp. 179-191, http://links.jstor.org/sici?sici=0143-2095 %28199303 %2914%3A3%3C17
10 Dawe, S., Determinants of successful training practices in large Australian firms, NCVER, Adelaide, 2003, https://www.ncver.edu.au/_data/assets/file/0015/10743/determinants-of- successful-training-practices-930.pdf
11 Figgis, J, Alderson, A, Blackwell, A, Butorac, A, Mitchell, J & Zubrick, A., What convinces enterprises to value training and learning and what does not?, NCVER, Adelaide, 2001, http://trove.nla.gov.au/version/217785339
12 Kearney, P., Size matters: National summative evaluation report of the Small Business Professional Development Best Practice Program 1996-2000, Office of Vocational Education and Training, Hobart, 2000, http://www.voced.edu.au/content/ngv:14152
13 Popa I. & colab, The Health State of the Romanian Management in 2015, Pro Universitaria Publishing House, Bucharest, 2016,.
14 Convergence Programme 2016-2019, The Government of Romania http://ec.europa.eu/europe2020/pdf/csr2016/cp2016_romania_ro.pdf
15 www.domgbusiness.org/.../domg%20busmess/.../profiles/.../, Doing Business 2016, Measuring Regulatory Quality and Efficiency, Economy Profile 2016, Romania, pg. 8
16 http://www.gordonconsulting.com.au/contact-us/, Gordon J. Consulting, 1996
17 Kearney, P., 1999, Big pictures from the small end of town: 1998 Small Business Professional Development Programme, evaluation report, Office of Vocational Education and Training, Hobart, http://www.voced.edu.au/content/ngv:21503/ Kearney, P., 2000, cited works
18 Smallbone, D., Supri, S & Baldock, R., 2000, The implications of new technology for the skill and training needs of small-and medium-sized printing firms, Education & Training, vol. 42, issue 4/5, pp.299-307, http://www.emeraldinsight.com/doi/abs/10.1108/00400910010347768
19 Ward, C & Bennet, D., 2004, Enterprising, franchised and online: Towards a model of e-learning for small businesses, project report, Australian, Flexible Learning Framework, Brisbane, viewed 14 July 2006, http://www.flexiblelearning.net.au/projects/media/enterprising_project_report.pdf
20 Mitra, J., (2000), Making connections: Innovation and collective learning in small businesses, Education and Training, vol.42, issue 4/5, pp.228-36, http://www.emeraldinsight.com/doi/abs/10.1108/00400910010373679
REFERENCES
Beaver, G., (2002), Small Business, Entrepreneurship and Enterprise Development, Edinburgh, Pearson Education Limited, https://books.google.ro/books?hl=ro&lr=&id=fppDtj9bme°C&oi=fnd&p g=PR9&dq
Becker, B.E., Huselid, M.A., (1998), High Performance Work Systems and Firm Performance: A Synthesis of Research and Managerial Implications, in Research in Personnel and Human Resource Management, Greenwich, Ed. G.R. Ferris, CT: JAI Press, pp. 53-101
Dawe, S., (2003), Determinants of successful training practices in large Australian firms, NCVER, Adelaide, https://www.ncver.edu.au/_data/assets/file/0015/10743/determi nants-of-successful-training-practices-930.pdf
Delery, J.E., and Doty, H.D., (1996), Modes of Theorizing in Strategic Human Resource Management: Types of Universalistic, Contingency, and Configurational Performance Predictions, Academy of Management Journal, 39, 4, 802-835, ttps://arwana007.files.wordpress.com/2012/02/modes-of-theorizing-in-shrm.pdf
Figgis, J, Alderson, A., Blackwell, A., Butorac, A., Mitchell, J. & Zubrick, A., (2001), What convinces enterprises to value training and learning and what does not?, NCVER, Adelaide,http://trove.nla.gov.au/version/217785339
Kearney, P., (1999), Big pictures from the small end of town: 1998 Small Business Professional Development Programme, evaluation report, Office of Vocational Education and Training, Hobart, http://www.voced.edu.aU/content/ngv:21503
Kearney, P., (2000), Size matters: National summative evaluation report of the Small Business Professional Development Best Practice Program 1996-2000, Office of Vocational Education and Training, Hobart, http://www.voced.edu.aU/content/ngv:14152
Kearns, P., (2002), Are two worlds colliding? The provision of training and learning services for small business, NCVER, Adelaide, http://eric.ed.gov/?id=ED473179
Mazzarol T., (2004), Strategic Management of Small Firms: A Proposed Framework for Entrepreneurial Ventures, http://www.cemi.com.au/sites/all/publications/Mazzarol%20SEA ANZ04%20paper.pdf
Mitra, J., (2000), Making connections: Innovation and collective learning in small businesses, Education and Training, vol.42, issue 4/5, pp.228-36, http://www.emeraldinsight.com/doi/abs/10.1108/00400910010373679
Peteraf M. A., (1993), The Cornerstones of Competitive Advantage: A Resource-Based View, Strategic Management Journal, Vol. 14, No. 3. (Mar., 1993), pp. 179-191, http://links.jstor.org/sicUsicW0143-2095%28199303%2914%3A3%3C17
Popa I. & colab., (2016), The Health State of the Romanian Management in 2015, Bucharest, Pro Universitaria Publishing House.
Rann, M., (2006), International expert to help small business', in news release for The Advertiser, Monday, 6 November, http://www.thinkers.sa.gov.au
Smallbone, D, Supri, S & Baldock, R., (2000), The implications of new technology for the skill and training needs of small-and medium-sized printing firms, Education & Training, vol.42, issue 4/5, pp.299-307, http://www.emeraldinsight.com/doi/abs/10.1108/00400910010347768
Stavrou, E., Brewster, C., and Charalambous, C., (2004), Human Resource Management as a Competitive Tool in Europe, working paper, London: Henley College, http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.558.246
Ward, C & Bennet, D., (2004), Enterprising, franchised and online: Towards a model of e-learning for small business, project report, Australian, Flexible Learning Framework, Brisbane, viewed 14 July 2006, http://www.flexiblelearning.net.au/projects/media/enterprising_project _report.pdf.
http://ec.europa.eu/growth/smes/, European Commission, 2016
www.doingbusiness.org/.../doing%20business/.../profiles/...// Doing Business 2016, Measuring Regulatory Quality and Efficiency, Economy Profile 2016, România, pg. 8
http://www.gordonconsulting.com.au/contact-us/, Gordon J. Consulting, 1996
ALECXANDRINA DEACONU*
LAVINIA RA§CÄ**
* PhD., The Academy of Economic Studies, Bucharest
** PhD., The Institute for Business Administration in Bucharest - Asebuss
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Copyright Christian University Dimitrie Cantemir, Department of Education Dec 2016
Abstract
"In oder to achieve its economic goals (sustainable growth, healthy competition, and economic development), the E.U. has focused on creating and developing small and medium enterprises (SME). Therefore, it is not surprising that they represent 99% of all companies operating in the E.U. countries. They also provide 85% of all private sector jobs and 54% of added value (European Commission, 2016)1. Unfortunately, many of these kinds of companies have a short life span due to a lack of managerial competency. Taking all this information into account, we have conducted a research regarding the types of training that are available to SME's, with all their pros and cons, in the Romanian business environment and we identified several strategies that can be implemented in these companies in order to develop managers and employees, thus creating the necessary conditions for these companies to grow."
You have requested "on-the-fly" machine translation of selected content from our databases. This functionality is provided solely for your convenience and is in no way intended to replace human translation. Show full disclaimer
Neither ProQuest nor its licensors make any representations or warranties with respect to the translations. The translations are automatically generated "AS IS" and "AS AVAILABLE" and are not retained in our systems. PROQUEST AND ITS LICENSORS SPECIFICALLY DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING WITHOUT LIMITATION, ANY WARRANTIES FOR AVAILABILITY, ACCURACY, TIMELINESS, COMPLETENESS, NON-INFRINGMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Your use of the translations is subject to all use restrictions contained in your Electronic Products License Agreement and by using the translation functionality you agree to forgo any and all claims against ProQuest or its licensors for your use of the translation functionality and any output derived there from. Hide full disclaimer