Managers Capabilities and Competences in Changing Environment: Empirical Study in Latvia

摘要

Last decade of high economic turbulence and significant fluctuations has tested managers' ability to adapt and apply the relevant skillset and competences to ensure success of their companies in various market conditions. The aim of research is to analyse if managerial competencies required to successfully lead a company differ in times of rapid growth or crisis and normal market conditions. Research methods such as review of the literature and organized focus groups with managers of SMEs representing various service and manufacturing industries are applied. As a result, authors developed a customized list of managerial competencies and identified individual importance of different competencies in periods of growth and crisis. Whilst research is limited to SMEs in Latvia, this is a first step in a series of studies to explore managers' capabilities and competence models.