The economic discussion about the large- vs. small-scale enterprise often concentrates on the competitive advantages/disadvantages resulting from economies of scale or size and technological improvements due to the capital strength. However, more economic characteristics and factors shall be considered. For example, cost flexibility explains under which conditions the small farmers may have the same level of cost efficiency as the large competitors. Stigler (1933) defined flexibility as the ability of a single-product firm to adjust output to exogenous shocks with relatively low costs. The followers added different other measures of flexibility and especially introduced multi-dimensional concept of flexibility. The authors recognised that the product mix matters. In particular, the flexibility is determined not only by the ability to adjust output but also the structure of the production portfolio to exogenous shocks with relatively low costs. In a modern concept, the cost flexibility is decomposed into the convexity effect, scope effect and scale effect.
The conference intends to provoke discussion on the key factors surrounding the size of enterprise. The general topic of the conference provides not only a platform for discussing theoretical issues, but also for sharing experiences, identifying practical problems and exploring which solutions can be clarified with the assistance of the scientific community.