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1、10thGlobalConferenceonBusiness&EconomicsISBN:978-0-9830452-1-2SmallBusinessesStrategiesinTimesofCrisis:EmpiricalEvidencefromtheProvinceofPesaro-UrbinoTheauthorsworkedjointlyonthepaper.However,inthedraftingphase,SimoneSplendianiedited§1,ElisaNobili§2andToninoPencarelli§4.SimoneSplendianiandElisaNobil
2、iedited§3.ToninoPencarelli–tonino.pencarelli@uniurb.itSimoneSplendiani–simone.splendiani@uniurb.itElisaNobili–elisa.nobili@uniurb.itAbstractThisworkaimstounderstandthestrategicbehaviorofsmalllocalbusinessesduringtheglobaleconomiccrisisintheyear2009.Thebriefinitialliteraturereviewonstrategiesrelatedt
3、othecrisisidentifiesprimarystrategicbehaviorrecognizedbymostauthorsasaresponsetothecrisis.Theauthorsthenverifyapplicationsthroughafieldsurvey,carriedoutonasampleofover300sectorallydifferentsmallandmicroenterprisesaffectedbythecrisis.Theresearchshowsacomplexpictureofthecrisis,withunevenandvarieddynam
4、ics.ThestrategicresponsesofSmallBusinessesareoftendefensiveandaimedatreducingtheimpactsofthedecreaseinturnoverandprofitmarginsthroughrationalizationanddownsizingstrategies.Weemphasize,however,alsocasesofactiveresponse,suchasgrowththroughinternalizationorstrategiesaimedatredefiningthebusiness.1.Intro
5、duction:fromglobalcrisistocompanycrisisAccordingtomanyobservers,theglobalcrisisof2008-2010isconfiguredasacascadeprocess,whosesourcewastheburstingoftheAmericanhousingbubblebetween2005and2006.Thecollapseinpropertyprices,partiallyduetothemishandlingofso-calledsubprimemortgages,wasaddedtothedifficulties
6、manyAmericanhouseholdshadinhonoringtheirdebtsandhaspreventedthemfromrefinancingtheirmortgages.Itwasevidentlythebeginningofaperiodofseriousanddeeprecession,markedbyacontractionofrealGDP,asignificantandwidespreaddropindemandand,consequently,productionandemployment.Thisrecessionwascausednotbycompaniesb
7、utbyconsumersseverelyaffectedbythedeclineinhousingprices,stockpriceandjobs(Pellicelli,2009).IntheMarcheregionofItaly,inwhichthefirmsofoursurveyarelocated,theimpactoftheglobalcrisishasproventobeveryhar