Professionalization of managerial functions in SMEs in Serbia with a special emphasis on the financial function

Abstract

Managerial knowledge and skills are some of the most crucial factors of the survival and sustainability of small and medium enterprises. Achieving growth and development of small enterprises requires the implementation of a professional approach to management and to the organization. This paper shows the results of an empirical research carried out in the first half of 2020 by having applied the survey method. An e-questionnaire was designed for the purposes of this research and it was distributed to micro, small and medium enterprises and entrepreneurial stores in Serbia. The goal of the research was to examine the occurrence of professionalization of managerial functions in the SME sector in Serbia, with a special emphasis on the financial function. The research results have shown that professionalization of managerial functions in the SME sector of the Republic of Serbia is not sufficiently represented and that with an increase in the level of professionalization of managerial functions becomes a great potential for the promotion of the efficiency and effectiveness of management in small and medium enterprises.

The Ordinariness and Denaturation of Small Business:Conceptual Framework and Empirical Evidence from the European Union

“…Entrepreneurs ought, however, to show caution in implementing solutions characteristic of anti-small business, being sure to provide the appropriate combinations and configurations of ordinary and denatured factors for small business success. For this reason, the results presented also significantly develop the theory of small business professionalization (Ravić, Đekić, and Radić, 2021) by indicating certain configurations of managerial solutions that positively influence SME competitiveness and performance.…”