RESPONSIBLE ENTREPRENEURSHIP VISION DEVELOPMENT AND ETHICS

100 RESPONSIBLE ENTREPRENEURSHIP
evaluation systems. The green trend represents the evolution of the strategic decision 1
that
focus on this order of the factors: IT and technology; human resources; management, leadership
and support; resources based view; infrastructure; evaluation systems and the restructure
of the organizational culture.
Figure 4: Monte Carlo Simulation with 10% volatility
The strategic decision 1
is more sensitive when the volatility is 10%. In addition, the Monte
Carlo simulation suggests that a good evolution of the variables is in the case when the volatility
is 20%. It is a powerful tool that has proven useful.
Conclusions and directions for future research
In a dynamic business environment, the technological progress is not sufficient. SMEs
need a capable management to respond to the additional issues. The integration of knowledge
and KM together with other paradigms that contain flexibility elements represents an
interesting instrument to gain competitive advantage. The way toward a better understanding
of knowledge and KM conduce to performance, efficiency, effectiveness, competiveness,
innovation and to enrich the knowledge “pool”. KM strategies allow SMEs to share knowledge
as part of their daily business activities and processes and represent a key source in decision-making
and production processes.
The paper offers an exploration of knowledge and KM perspectives in SMEs. Through
an innovative methodology that contain firstly, a quantitative research to identify the attitude
and the perception of SMEs` managers from Romania according to KM; secondly, the AHP
method and thirdly, the Monte Carlo Simulations based on Wiener generalized process, the
paper offers some new research directions for the development and implementation of KM
strategic decisions. The study offers valuable information and provides an integrative perspective
of the barriers and success factors that contribute to the strategic decision-making.
The barriers that exist in the process of knowledge management implementation in SMEs
are the following: the lack of resource allocation, the inadequate skills of managers and employees,
organizational culture, management capability and inadequate KM strategies. To eliminate
this barriers, SMEs managers focused in their strategic decision-making process on some
success factors such as: management, leadership and support; restructure of the organizational