Contribution of Knowledge-Based Management Practices to SMEs Performance

The knowledge-based economy requires, both in Romania and internationally, the presence of intelligent organizations, with advanced management capabilities of their collective skills, as sources of performance. As a result, worldwide, more than ever, knowledge is accepted as one of the main sources of competitive advantage. Small and medium sized enterprises (SMEs) are the most dynamic factor of progress in contemporary society, the main generator of economic performance, and employment opportunity provider for the population. SMEs represent 99% of all enterprises, drawing up the main human resource agglomeration. Knowledge-based management approaches go beyond the rigid hierarchies and entail the emergence of non-hierarchical organizational structures.