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• The Impact of the Economic Crisis on the Development Lifecycles, the Short-term Plans and the Strategy of the Actors in the Hungarian SME Sector

  29-43

  Anna Salamonne Huszty

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  194

  This study was prepared in the third phase of a multi-year research project. The goal of the program was to analyse the growth trajectories and strategies of Hungarian SMEs. Research in the first phase was focused on the specific periods of typical company lifecycles, the second phase dealt with strategic thinking, methods of strategy formulation and the content elements of strategies. The findings and conclusions were published in the journal Competitio. The present study is a report on the findings of the third phase of the research program. It describes the consequences of the recent economic and financial crisis on SMEs. It describes how unexpected and radical changes in the business environment influenced the development of firms, how managers reacted, and how they considered short and long
  term factors in their decisions.

  JEL classification: L21, L26, M1