<abstract xmlns="http://www.w3.org/1999/xhtml"><p> The SMEs in Romania, which remained reliable after the economic crisis, had a better dynamic of business development in relation to large and very large companies. The increase of the fiscal value of these companies has improved every year, leading to spectacular results in certain fields of activity, particularly services, trade and IT. After the economic crisis, the SMEs from the Western region had a dynamic business market, outstripping all other regions of economic development. The result was the increase in the number of SMEs and the number of jobs in this region. In this article, we propose a mathematical model based on multivariate analysis, specifically on cluster analysis, in order to analyse the economic activities of SMEs in the Western development region. Cluster analysis is a multivariate analysis method that includes algorithms able to identify and group efficiently and descriptively a similar group in terms of certain common properties, in a lot of time objects.</p><p>The purpose of this paper is the analysis of the economic efficiency of SMEs’ activities in the Western area of Romania and the extraction of activities through modeling in order to maximise the efficiency of the companies in the future.</p></abstract>

The SMEs in Romania, which remained reliable after the economic crisis, had a better dynamic of business development in relation to large and very large companies. The increase of the fiscal value of these companies has improved every year, leading to spectacular results in certain fields of activity, particularly services, trade and IT. After the economic crisis, the SMEs from the Western region had a dynamic business market, outstripping all other regions of economic development. The result was the increase in the number of SMEs and the number of jobs in this region. In this article, we propose a mathematical model based on multivariate analysis, specifically on cluster analysis, in order to analyse the economic activities of SMEs in the Western development region. Cluster analysis is a multivariate analysis method that includes algorithms able to identify and group efficiently and descriptively a similar group in terms of certain common properties, in a lot of time objects.The purpose of this paper is the analysis of the economic efficiency of SMEs’ activities in the Western area of Romania and the extraction of activities through modeling in order to maximise the efficiency of the companies in the future.

Analysis of the Evolution of SMEs in Western Romania Between 2011–2014, Using the Mathematical Modelling

Department of Mathematics, West University of Timisoara, Timisoara,

Department of Engineering and Computer Science, “Vasile Goldis” Western University of Arad,

Studia Universitatis „Vasile Goldis” Arad – Economics Series

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

The SMEs in Romania, which remained reliable after the economic crisis, had a better dynamic of business development in relation to large and very large...

Analysis of the Evolution of SMEs in Western Romania Between 2011–2014, Using the Mathematical Modelling

Published Online: Dec 08, 2016

Page range: 94 - 107

Received: Jul 01, 2016

Accepted: Oct 01, 2016

DOI: https://doi.org/10.1515/sues-2016-0022

Keywords
SME development, efficiency, multivariate analysis, cluster analysis

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Analysis of the Evolution of SMEs in Western Romania Between 2011–2014, Using the Mathematical Modelling

Published Online: Dec 08, 2016

Page range: 94 - 107

Received: Jul 01, 2016

Accepted: Oct 01, 2016

DOI: https://doi.org/10.1515/sues-2016-0022

KeywordsSME development, efficiency, multivariate analysis, cluster analysis

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
SME development, efficiency, multivariate analysis, cluster analysis