New trends of management of European SMEs : the M-C model

Abstract

Business has undergone unprecedented changes over the last twenty years and these changes have significantly influenced corporate management processes. Planning and risk management systems that had been successfully used for years stopped working. The fall of totalitarian regimes, the development of “third world” countries, new technologies and means of communication, affordable intercontinental transport, European economic integration and the consequences of the biggest economic crisis in recent decades have completely changed the established company management processes. This article offers a complex and interdisciplinary view of company management based on management theory, hands-on experience, management accounting and human resource management. Company management is perceived as a logical and cross-sector interlinked company process based on the M-C model, which is applicable in this form in most small and medium-sized companies. The aim of the article is to clearly explain basic company processes in small and medium-sized companies based on management and controlling and to describe their significance and interrelationship.