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Author: Arkadiusz Siedlecki
Year of publication: 2005
Source: Show
Pages: 99-124
DOI Address: http://dx.doi.org/10.15804/ksm200508
PDF: ksm/09/ksm200508.pdf

Development process in every small and medium-Sized enterprise (SME) is associated with variable demand for capital in different periods of time. Therefore, one of the essential conditions for the owner of an enterprise, who wants to improve financial management, is knowledge of factors determining level and changes in time of demand for capital. When a new size of a company becomes stable the demand for capital and its development in time depend on economic process form, its rapidity, possible production capacity use as well as production and sale changes.  From among many models illustrating functioning of small and medium-Sized enterprises at different stages of their development the ones worked out by N. Churchill, V. Levis and I.. Greiner are worth considering. in the model of develop- ment presented by N. Churchill and V. Levis at respective stages of SME life-time evolution of quality features occurs. The more important role is played by such factors as: strategic planning, employees” know-how, proper delegation of duties, power and responsibility by the owner of company. According to I.. Greiner, taking into account age. size and industry branch development rate the enterprise devel- opment can be shown as subsequent alternative evolution and revolution proc- esses. As there is necessity to consider a great number of factors, the due financial care should be taken while planning future incomes and defining demand for capital.

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