Authors: Ilias Parginos

Title: EVALUATING THE TURNAROUND STRATEGY MIX ON SMEs PERFORMANCE & VIABILITY DURING FINANCIAL CRISIS CIRCUMSTANCES: EVIDENCE FROM GREECE

Abstract

This paper focuses on the Small and Medium-sized Enterprises (SMEs) in Greece, in an attempt to evaluate the Turnaround Strategy mix on SMEs performance and viability, through a quantitative research that has been carried out during the deep economic recession years. The necessary data collected with the use of Turnaround Strategy Measurement Instrument (TSMI) which consist of 36 items distributed in four strategies (Turnaround Strategy Mix) were determined as critical for the SMEs. The result shows the significance of these strategies on SMEs performance and viability. In this Turnaround Strategy Mix, the strategies included are Organizational Change, Retrenchment vs Investment, Market Strategies and Innovation. The evaluation of this specified Turnaround Strategy Mix is essential for SMEs that operate in Greece under financial crisis circumstances amid a perplexed business environment. Therefore, this research focusing on SMEs performance will contribute to the SMEs’ survival and viability.