IDEAS home Printed from https://ideas.repec.org/a/but/ijebfa/v4y2014i1p115-126.html
   My bibliography  Save this article

Economic Crisis and Smes’ Behavior: An Analysis on the Furniture Sector in Italy

Author

Listed:
  • Marco Cioppi
  • Fabio Musso
  • Elisabetta Savelli

    (Carlo Bo University of Urbino, Italy)

Abstract

This paper examines the results of a case study analysis carried out on five small and medium-sized enterprises (SMEs) operating in the furnishing sector of an Italian province. The aim of the study was to analyze which kind of strategies SMEs are adopting in order to face the economic crisis started in 2008. The cases analyzed highlighted the ability of firms in reacting by the development a proactive strategy, which brought them to positive economic results over time. Discussion of results and ijebfarial implications are suggested in order to properly address other enterprises acting in similar market condition.

Suggested Citation

  • Marco Cioppi & Fabio Musso & Elisabetta Savelli, 2014. "Economic Crisis and Smes’ Behavior: An Analysis on the Furniture Sector in Italy," The International Journal of Economic Behavior - IJEB, Faculty of Business and Administration, University of Bucharest, vol. 4(1), pages 115-126.
    • Handle: RePEc:but:ijebfa:v:4:y:2014:i:1:p:115-126
    as

    Download full text from publisher

    File URL: http://ijeb.faa.ro/download/488_8%20-%2014-19%20-%20Cioppi_Musso_Pencarelli_Savelli.pdf
    Download Restriction: no
    File URL: http://ijeb.faa.ro/en/article/Economic-Crisis-and-SMEs--Behavior-An-Analysis-on-the-Furniture-Sector-in-Italy~488.html
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Musso, Fabio & Francioni, Barbara, 2011. "Foreign Markets Entry Mode Decision for Italian Small and Medium-Sized Enterprises," MPRA Paper 50067, University Library of Munich, Germany, revised 31 Oct 2011.
    2. Simone Guercini, 2005. "Marketing imprenditoriale, marketing manageriale e conoscenza di mercato del vertice d'impresa," MERCATI & COMPETITIVIT?, FrancoAngeli Editore, vol. 2005(1).
    3. Eleonora Di Maria & Stefano Micelli, 2008. "SMEs and Competitive Advantage: a Mix of Innovation, Marketing and ICT. The Case of "Made in Italy"," "Marco Fanno" Working Papers 0070, Dipartimento di Scienze Economiche "Marco Fanno".
    4. Thorsten Beck & Asli Demirgüç‐Kunt & Vojislav Maksimovic, 2005. "Financial and Legal Constraints to Growth: Does Firm Size Matter?," Journal of Finance, American Finance Association, vol. 60(1), pages 137-177, February.
    5. Kremp, Elizabeth & Sevestre, Patrick, 2013. "Did the crisis induce credit rationing for French SMEs?," Journal of Banking & Finance, Elsevier, vol. 37(10), pages 3757-3772.
    6. repec:ahe:invest:v:7:y:2011:i:02:p:322-333 is not listed on IDEAS
    7. Paul Hong & Chenglei Huang & Bo Li, 2012. "Crisis management for SMEs: insights from a multiple-case study," International Journal of Business Excellence, Inderscience Enterprises Ltd, vol. 5(5), pages 535-553.
    8. Jeffrey G. Covin & Dennis P. Slevin, 1989. "Strategic management of small firms in hostile and benign environments," Strategic Management Journal, Wiley Blackwell, vol. 10(1), pages 75-87, January.
    9. repec:ahe:invest:v:7:y:2011:p:322-333 is not listed on IDEAS
    10. Antonella Zucchella & Paolo Scabini, 2007. "Theoretical Foundations of International Entrepreneurship," Palgrave Macmillan Books, in: International Entrepreneurship, chapter 1, pages 5-27, Palgrave Macmillan.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Angelo Bonfanti & Manlio Del Giudice & Armando Papa, 2018. "Italian Craft Firms Between Digital Manufacturing, Open Innovation, and Servitization," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 9(1), pages 136-149, March.
    2. Eggers, Fabian, 2020. "Masters of disasters? Challenges and opportunities for SMEs in times of crisis," Journal of Business Research, Elsevier, vol. 116(C), pages 199-208.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:but:manage:v:4:y:2014:i:1:p:115-126 is not listed on IDEAS
    2. Horvath, Akos & Lang, Peter, 2021. "Do loan subsidies boost the real activity of small firms?," Journal of Banking & Finance, Elsevier, vol. 122(C).
    3. Krzysztof Wach, 2015. "Entrepreneurial Orientation and Business Internationalisation Process: The Theoretical Foundations of International Entrepreneurship," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 3(2), pages 9-24.
    4. Filippo di Pietro & Maria Elena Bontempi & María-José Palacín-Sánchez & Reyes Samaniego-Medina, 2019. "Capital Structure across Italian Regions: The Role of Financial and Economic Differences," Sustainability, MDPI, vol. 11(16), pages 1-14, August.
    5. Eggers, Fabian, 2020. "Masters of disasters? Challenges and opportunities for SMEs in times of crisis," Journal of Business Research, Elsevier, vol. 116(C), pages 199-208.
    6. Nawal Abdalla Adam & Ghadah Alarifi, 2021. "Innovation practices for survival of small and medium enterprises (SMEs) in the COVID-19 times: the role of external support," Journal of Innovation and Entrepreneurship, Springer, vol. 10(1), pages 1-22, December.
    7. Massimiliano Vesci & Antonio Botti & Rosangela Feola & Chiara Crudele, 2021. "Academic Entrepreneurial Intention and Its Determinants: Exploring the Moderating Role of Innovation Ecosystem," International Journal of Business and Management, Canadian Center of Science and Education, vol. 15(8), pages 1-39, July.
    8. S. Arunachalam & Sridhar N. Ramaswami & Pol Herrmann & Doug Walker, 2018. "Innovation pathway to profitability: the role of entrepreneurial orientation and marketing capabilities," Journal of the Academy of Marketing Science, Springer, vol. 46(4), pages 744-766, July.
    9. Shingo Yoshida & Hironori Yagi, 2021. "Long-Term Development of Urban Agriculture: Resilience and Sustainability of Farmers Facing the Covid-19 Pandemic in Japan," Sustainability, MDPI, vol. 13(8), pages 1-23, April.
    10. Lu, Jinfeng & Dimov, Dimo, 2023. "A system dynamics modelling of entrepreneurship and growth within firms," Journal of Business Venturing, Elsevier, vol. 38(3).
    11. Insoo Cho & Peter F. Orazem, 2021. "How endogenous risk preferences and sample selection affect analysis of firm survival," Small Business Economics, Springer, vol. 56(4), pages 1309-1332, April.
    12. Henrekson, Magnus & Johansson, Dan, 2010. "Firm Growth, Institutions and Structural Transformation," Ratio Working Papers 150, The Ratio Institute.
    13. Abiodun Tope Samson, 2015. "The Impact of Entrepreneurial Orientation, Reconfiguring Capability and Moderation of Environmental Turbulence on Export Performance of SMEs in Nigeria," Journal of Economics and Behavioral Studies, AMH International, vol. 7(3), pages 76-87.
    14. Jonathan H. Reed, 2022. "Operational and strategic change during temporary turbulence: evidence from the COVID-19 pandemic," Operations Management Research, Springer, vol. 15(1), pages 589-608, June.
    15. Herrala, Risto & Turk-Ariss, Rima, 2012. "Credit conditions and firm investment : Evidence from the MENA region," BOFIT Discussion Papers 29/2012, Bank of Finland, Institute for Economies in Transition.
    16. Beck, Thorsten & Demirgüç-Kunt, Asli & Singer, Dorothe, 2013. "Is Small Beautiful? Financial Structure, Size and Access to Finance," World Development, Elsevier, vol. 52(C), pages 19-33.
    17. Ayyagari, Meghana & Demirguc-Kunt, Asli & Maksimovic, Vojislav, 2014. "Does local financial development matter for firm lifecycle in India ?," Policy Research Working Paper Series 7008, The World Bank.
    18. Kusa, Rafał & Suder, Marcin & Duda, Joanna, 2023. "Impact of greening on performance in the hospitality industry: Moderating effect of flexibility and inter-organizational cooperation," Technological Forecasting and Social Change, Elsevier, vol. 190(C).
    19. Amaka Orakwue & Osarumwense Iguisi, 2020. "Conceptualizing entrepreneurship in human resource management," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 9(3), pages 85-93, April.
    20. Chahal, Hardeep & Gupta, Mahesh & Lonial, Subhash & Raina, Swati, 2019. "Operational flexibility-entrepreneurial orientation relationship: Effects and consequences," Journal of Business Research, Elsevier, vol. 105(C), pages 154-167.
    21. Myint Moe Chit, 2018. "Political openness and the growth of small and medium enterprises: empirical evidence from transition economies," Empirical Economics, Springer, vol. 55(2), pages 781-804, September.

    More about this item

    Keywords

    strategy; economic crisis; SMEs; firm's performance;
    All these keywords.

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:but:ijebfa:v:4:y:2014:i:1:p:115-126. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Cosmin Catalin Olteanu (email available below). General contact details of provider: https://edirc.repec.org/data/faaubro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.