Enhancement of Small and Medium Enterprises through implementation of Controlling Tools and Methods.
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| Dokumentumtípus: | Diplomadolgozat |
| Kulcsszavak: | better budgeting business planning controlling finance Mongolia |
| Online Access: | http://dolgozattar.uni-bge.hu/54168 |
| Kivonat: | This research investigates the utilization and impact of controlling methods among 105 small and medium-sized enterprises (SMEs) in Mongolia. The study examines how these methods are adopted, their perceived effectiveness, and the barriers hindering their integration into business practices. The findings reveal that future planning stands out as a primary focus among Mongolian SMEs, with a substantial reliance on performance measurement, budgeting, and pricing tools to strategize for the long term. Notably, over 70% of participants acknowledge the potency of performance measurement tools, particularly in enhancing decision-making processes. The significance of pricing tools is also evident, with nearly 70% recognizing their effectiveness in determining optimal product pricing strategies. However, challenges persist in the adoption of these tools. Financial constraints, shortage of qualified personnel, and inadequate top management support emerge as prominent hurdles, impacting nearly half of the surveyed SMEs across various tool categories. In conclusion, this study sheds light on the vital role of controlling methods in the strategies, monitoring, and operational refinement of Mongolian SMEs. While recognized for their effectiveness, these tools face obstacles hindering widespread integration within SME practices. This underscores the need for increased awareness, support, and tailored resources to empower SMEs in leveraging these methods for sustained growth and competitive advantage in Mongolia's economic landscape |
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