Economic Crisis and Smes’ Behavior: An Analysis on the Furniture Sector in 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 managerial implications are suggested in order to properly address other enterprises acting in similar market condition.
Classification-JEL: L10, L21, M10, M1
Keywords: strategy, economic crisis, SMEs, firm's performance