Abstract:

Change management and innovation is an important issue for the development of SMEs in Romania. However, only a few scientific papers in Romanian academic world address the subject of how resources and capabilities influence change processes and results small and medium family companies. We develop a series of postulates regarding peculiarities of change and innovation in these type of enterprises. Interest in small- and medium-sized enterprise family business continues to grow among academics as the dominance of family businesses on the economic landscape of most nations persists (Sharma, 2004), and the prevalence and importance of smaller family businesses is increasingly acknowledged (Le Breton-Miller and Miller, 2008; Richbell et al., 2006). In this paper, we are particularly interested in entrepreneurial SME family businesses and the critical role of innovation in such businesses (Kraus et al., 2012). Prior research has highlighted the necessity of innovation not only to recognize and exploit new opportunities but equally to refine current opportunities for the continued success of family businesses across multiple generations (Kellermanns et al., 2012; Naldi et al., 2007).