Adaptation Strategies Applied By Small And Medium-sized Business In Uzbekistan

The thesis reviews adaptation strategies applied by small and medium business in Uzbekistan.Small and Medium enterprises(SMEs)make important contributions to economic and social development of any country.Consequently,the growth of the SME sector directly affects the performance of the nation.In all economies they constitute the vast majority of business establishments and they are usually responsible for the majority of employment opportunities created which account for one third to two thirds of the turnover of the private sector.The ability of SMEs to create,access and commercialize new knowledge on global markets is fundamental to their sustained competitiveness.The research was conducted in SMEs of Uzbekistan which have undergone several difficulties,economic turnovers in recent years.Business environment during and since world financial crisis have been discussed and the adaptation strategies applied by SMEs have been analyzed.The survey obtained both primary and secondary data where a in-depth interview and questionnaire were used as source of information.Qualitative and quantitative research method has been implemented to analyze the survey where descriptive statistics and correlation matrix used as a research design.The study concluded that most of the SMEs had embraced adaptation strategies such as marketing,financial,HMR among other strategies and those businesses have additional advantages such as increase in the total sales volume annul,increase in assets and remain competitive in the market.Likewise,the study concluded that that marketing strategy is one of the adaptation strategies mostly adopted with most of organizations focusing on various aspects of market penetration.However,SMEs in the area under study are faced with various challenges such as stiff competition from large companies,changes in information technology and lack appropriate structures for dealing with SMEs in financial support,poor infrastructure,insecurity.Findings of current research could be used as a reference for future researcher engaged in SME management sphere and it is hoped that the following study could provide important assist for them.