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Improving the strategic management within the microfinance institutions of the Republic of Moldova

Author: Popa Viorica
Degree:doctor of economics
Speciality: 08.00.05 - Economy and Management (in branch)
Scientific adviser: Petru Catan
doctor habilitat, professor
Institution: National Institute For Economic Research


The thesis was presented on the 23 October, 2019
Approved by NCAA on the 6 December, 2019


Adobe PDF document0.80 Mb / in romanian


CZU 336.717.061(478)

Adobe PDF document 3.07 Mb / in romanian
204 pages


strategy, strategic management, microfinance, non-banking lending organization, nonbanking financial market, strategic management model


Thesis structure: introduction, three chapters, general conclusions and recommendations, bibliography of 188 titles, 27 annexes, 149 basic text pages, 25 tables and 48 figures. Research is reflected in 22 scientific publications (11.44 a.p.) and a collective monograph.

Field of study: strategic management, economy.

The purpose of the research: theoretical and methodological substantiation of the strategic management specific for MFOs by identifying the existing strategic management model in order to elaborate and implement the recommendations for its improvement through the use of the strategic performance indicators.

Objectives of the research: research of the theoretical and methodological concepts of strategy and strategic management, by identifying its usefulness for microfinance institutions; study of the content and particularities of the tools of strategic management models that can contribute to the development of the microfinance sector; strategic diagnosis of the microfinance sector in order to determine its degree of importance on the financial market of the Republic of Moldova; analysis of the framework and strategic directions of the microfinance sector and improvement of the model of strategic management within the Moldovan MFOs.

Scientific novelty and originality: development of the strategic management concept within microfinance institutions, into a new approach; scientific argumentation of the need to use strategic management models for microfinance institutions, depending on their size and type; theoretical and methodological substantiation of a strategic management model within MFOs; elaboration of a system of useful performance indicators for sizing the microfinance sector by classifying some MFOs, in order to establish an optimal strategic management model; elaboration of a set of practical recommendations that would contribute to the improvement of the strategic management model for the MFOs from the Republic of Moldova by applying the strategic management tools (SWOT, BSC, PESTLE, ADL, 7-S, etc.).

The important scientific problem solved: fundamentation of a modern vision regarding the improvement of the strategic management that targets the microfinance organizations, through the methodological formulation of the set of indicators for the strategic degree evaluation within the microfinance organizations in the country, which will contribute to the development of the sector and would provide greater funding for both, SMEs and the population, by applying strategic management instruments and models.

Theoretical value of the thesisis based on synthesizing conceptual approaches regarding the essence of strategy and strategic management within microfinance organizations; theoretical systematization of strategic management models for the MFOs; substantiation of the concept of microfinance, taking into account its complex character; development and improvement of the strategic management model through the elaboration of a set of strategic performance evaluation indicators for the MFOs from the Republic of Moldova.

The applicative value of the paper results from the recommendations and solutions presented to NCFM and microfinance institutions, whose implementation will contribute to the development and consolidation of the non-banking sector from the perspective of strategic management. Also, the research has a practical value, as the results of the research can be used to improve the strategic management within the microfinance institutions by applying the set of indicators that allows us to evaluate the strategic performance of the MFO; improvement of the strategic management model reflected by the management tools and applied within the MFOs of the Republic of Moldova. The results can be applied to the development of specialized disciplines in management and finance, intended for cycle II and III, elaboration of guides for specialists and experts in the field. Implementation of the scientific results: the research results were accepted for implementation by the non-banking lending institution O.C.N. SMART CREDIT S.R.L. and O.C.N. OK CREDIT S.R.L., in the teaching activity of the University of European Studies from Moldova and in the research activity of the National Institute for Economic Research, thus being confirmed by implementing acts.