Strategic Crisis Management of SMEs(Small and Medium-sized Enterprises) in China

摘要

The main purpose of the paper is to analyze what strategies small and medium-sized businesses should adopt when confronted with a major crisis and determine what kind of factors is proved vital to the survival of the business. On the basis of the literature review of crisis management and related strategy management with SMEs, the paper constructed the theoretical framework with five major variables including business background, risk diversification and insurance, timing issues, financial variables and crisis management The paper developes an extended crisis management (CM) model for SMEs.