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TopIntroduction
Administration is the science that is in charge of planning, directing, organizing, implementing and controlling the resources of an organization. Its importance lies in the application or not of the scientific knowledge generated in the administrative area as a fundamental tool in all types of companies. This work is focused on the management of external risks in the company, such as the risk of the exchange rate that, even though it is an external threat to organizations, can be managed.
This article is composed by introduction, theoretical framework, methodology, analysis and presentation of results, conclusions and recommendations. The research follows a qualitative methodology with the modality of a case study. The data analysis was carried out from the qualitative and quantitative approach. Atlas.ti, Rstudio and Risk Simulator were used.
Context of The Mexican Company
In Mexico, the situation for newly created companies is complex, various internal and external factors afflict entrepreneurs. According to Gascón (2012), between 350 and 400 thousand Small and Medium Enterprises (SMEs) are created annually in the country, of which half close during the first year, and only, 10% continue in the next five years. The National Institute of Statistics and Geography (INEGI), through the Statistical Directory of Economic Units (DENUE), published in 2014 that a total of one million 584 thousand 927 businesses closed or suspended activities. In addition, for every 10 companies that open in Mexico, 8 correspond to micro-sized companies.
The importance of micro and small companies lies in that they constitute an important contribution to the national economy, a situation expressed in the country's Gross Domestic Product (GDP), with a 52% share in 2010 (OECD, 2013, p. 4). The INEGI economic census, in 2014, shows that 94.3% of companies in Mexico were micros. If the Mexican economy is objectively analyzed, it is largely supported by the participation of these units as generators of employment sources and providers of goods and services.
Now, regarding the state of Sinaloa, according to data provided by the National Statistical Directory of Economic Units (DENUE, 2016), 91.51% of state companies employ up to 10 employees. In the city of Culiacán, Sinaloa, the trend persists given that 90.18% of economic units have fewer than 11 employees and only 9.82% of companies are more than 11 (INEGI, s / f). Regarding the personnel employed in 2013, in Mexico, the total occupation was 21,576,358, of which 8,580,027 - that is, 39.79% - corresponded to people who worked in micro-enterprises (INEGI, 2015, p. 19).
In this context, where the economic and social importance of micro-sized companies is observed, it is decided to study this business stratum. Specifically, that of the manufacturing industry sector of manufacturing of integral kitchens and modular bathroom furniture in Sinaloa. According to a consultation in DENUE of INEGI there are 156 economic units of this line.
Problem Statement
According to data provided by Banco de México, on January 1, 2014 the exchange rate of the Mexican peso / US dollar was quoted at 13,1011. In June 2016, a new resistance of 19.1283 was presented, outlining the dollar. Díaz and Venegas-Martínez (2001) affirm that a company whose main input is imported requires derivative instruments that allow them to manage risk. They propose the use of futures on agricultural products because despite the fact that Mexico has an organized market that offers hedging for all economic sectors, products from the deregulated or over the counter [OTC] market are used. Salazar-Garza (2012) differs from these authors arguing that hedges with derivative products are very expensive for Mexican companies, so they suggest the use of the fuzzy logic model to forecast exchange rates and manage this risk without contracting derivatives.
Likewise, for the study being carried out, another turn that is also affected by the variation in the exchange rate of the Mexican peso / US dollar is the manufacture of integral kitchens and modular bathroom furniture in Sinaloa. So the Carpical company is selected.
According to the National Statistical Directory of Economic Units, in the state of Sinaloa, 572 companies were identified, of which 559 are micro-companies dedicated to the manufacture of integral kitchens and modular bathroom furniture. Likewise, it was found that in Culiacán 98.59% of the total companies are of micro size. In other words, of the total, only one is small (DENUE, 2016).