Professionalizing Small-Medium Enterprises: The Role of Management Practices in Small-Medium Enterprises

Abstract

The aim of the study is to examine the effects of specific firm characteristics on management practices. The firm characteristics are determined as size, age, CEO replacement, and strategic orientation adopted by the firm. Accordingly, a cross-sectional survey was conducted to collect data from a sample of 80 Small-Medium Enterprises (SMEs) located in Türkiye and was distributed online in order to reach a wider participant. The survey targets entrepreneurs, managers, or owners involved in key decision-making processes related to management practices. The selection aimed to include random SMEs across different sectors to enhance the reliability and validity of the research. The main finding reveals that the management practices level is affected by the firm’s age and the firm’s size. Previous literature has focused on management practices in large companies or SMEs in developed countries. The study is aimed at filling a gap related to how firm characteristics influence management practices in SMEs located in a developing country.