Factors of Change in Italian SMEs. An Empirical Investigation

Master's Thesis from the year 2023 in the subject Business economics - Business Management, Corporate Governance, grade: 1,1, Bocconi University (LEADERSHIP, HUMAN RESOURCES AND DIGITAL TECHNOLOGIES), language: English, abstract: The Master's thesis entitled "Factors of Change in Italian SMEs - An Empirical Investigation" examines the critical factors influencing the success of Change Management initiatives in small and medium-sized enterprises (SMEs) in Italy. Using a mixed-methods approach, this Research Thesis aims to address the urgent need for effective Change Management strategies to ensure Italian SMEs' sustainability and competitiveness. Five firms representing a cross-section of the diverse Italian SME landscape were selected and studied using a quantitative survey and qualitative interviews. The Research Thesis begins with an overview of the Italian economic situation, specifically the situation of SMEs, then a comprehensive literature review, and a detailed methodological section describing the mixed-methods research design. Through a cluster analysis that synthesizes findings from surveys and interviews the Research Thesis finds that Change Management practices in SMEs have been particularly important in light of recent crises. Leaders and employees quote communication and a culture of adaptability as the main factors for managing change successfully. Including employees' expertise and opinions improves company culture and outcomes, allowing for long-term success and implementation of change initiatives. Practical insights highlight factors to improve the effectiveness and sustainability of change management initiatives in Italian SMEs. In summary, the five factors - effective communication, employee involvement and commitment, strong leadership and strategic direction, appropriate resource allocation and training, and a culture of innovation and adaptability - are a robust framework for understanding the determinants of successful Change Management strategies in Italian SMEs.