THE “EFFECTIVE SME” IN A MULTIDIMENSIONAL APPROACH

Abstract

For many years, efficiency was primarily reduced to the financial dimension. The study of this type of efficiency aimed to edge the profitability and market share expected by the owners to ensure the sustainability of the company. The following paper aims to define SME efficiency in a wider and more relevant approach. A few years ago, the exclusive importance of the financial dimension shifted, and a multidimensional, multi-aspect efficiency came to the fore, which also affects social and environmental dimensions. Other actors appeared, and the concept of efficiency was reconsidered. Today, the sustainability of companies no longer depends only on their financial aspects, but also on their behavior towards the actors concerned. Therefore, the responsibility of enterprises extends not only to the owners but also to many other actors, such as employees, customers, suppliers, government, etc. In this context, the concept of “global efficiency” appears.

Keywords

• sme
• effectiveness
• multidimensional
• efficiency
• performance