The Impact of Business Processes on the Efficiency of Small and Medium-Sized Enterprises
Small and medium businesses generate about half of the country's added value and therefore has a significant weight in the economy. At the same time, SMEs have little use in their activities of business process management, which provides flexibility in the enterprise and turns ideas into action...
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| Published in: | Montenegrin journal of economics 2021-07, Vol.17 (3), p.131-143 |
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| Main Author: | |
| Format: | Article |
| Language: | eng |
| Subjects: | |
| Online Access: | Get full text |
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| Summary: | Small and medium businesses generate about half of the country's added value and therefore has a significant weight in the economy. At the same time, SMEs have little use in their activities of business process management, which provides flexibility in the enterprise and turns ideas into actions. The purpose of this study is to model effective basic business processes for a company-SME on the basis of a functional approach, taking into account the available human and material resources. The study is based on a SME enterprise. A quantitative and qualitative analysis of financial indicators and current business processes of the enterprise made it possible, on the basis of a functional approach, to model and improve the business process of sales. The implementation of the modernized business process allowed to increase the conversion of leads, the amount and growth of agreements, the size and growth of revenue, labor productivity, growth of revenue, as well as the efficiency of marketing costs.The results and methods of this study can be used by SME top managers to modernize business processes to improve the overall efficiency of the enterprise. |
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| ISSN: | 1800-5845 1800-6698 |