SME MANAGEMENT DECISION-MAKING PROBLEMS IN CHANGING MARKET CONDITIONS, LATVIAN EXPERIENCE

Abstract

Management decision-making in small and medium-sized enterprises involves a high degree of risk and uncertainty. A number of researchers worldwide have discussed this problem in theirs papers. More information leads to the complication of the decision-making process, requesting an analysis and understanding of many factors. Information technologies, Internet technologies particularly, can help small and medium-sized enterprises to better collect and analyse information which is necessary for conducting business.
The paper results contribute to a better understanding of Latvian SMEs managers’ behaviour, data collection methods and decision-making techniques. In combination with the world practice it is possible to predict development trends as well as to offer science-based support techniques. The following topics are put forward for the future research: selection of necessary management IT tools, consisting of the following parameters: mobility, flexibility and functionality; development challenges of the website proposed using mathematical and computer modelling.

DOI: http://dx.doi.org/10.5755/j01.em.17.3.2139