Efficient decision-making for SMEs
Managing directors of SMEs are often required to make strategic decisions on an individual basis following the advice of the management team. For SMEs a wrong decision could mean the company's demise and since their resources are limited, it is vital that strategic decisions are sound with all factors taken into account. Such factors include the external environment as well as a firm's internal circumstances. A basic issue for SMEs is the limited amount of time they spend on strategic issues since they are under time constraints; thus, managers require assistance from external parties. SymStrategy is a methodology for strategy development within SMEs, which is designed to address these problems. It provides a framework, which transforms all of the relevant information into a substantial business model. This is done on a consistent basis and keeps the management team as well as the entire organisation well informed. As a result, the decisions can be quicker, more easily monitored and simpler to implement. SymStrategy's exploitation and dissemination will be conducted through three main channels. One of these is consulting services provided through workshops. Another is open source community with an appropriate IT platform for free downloading. Finally, the third is education and training for students in university as well as through seminars for industrial practitioners.