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Efficient use of production resources in enterprises is necessary for increasing their competitiveness and the potential for their future development. In today's global world, companies are forced to invest in new technologies that are both more energy-efficient and more environmentally friendly, including in the food industry. The paper focusses on the efficiency of production factors in relation to their economic success. The aim is to find possible variants of the development of the links between capital labour ratio and labour productivity in relation to the development of profitability of returns. Empirical analysis coved 2,526 enterprises in food industry in four examined European countries (Visegrad group -V4) - Czech Republic, Hungary, Poland, Slovak Republic. The contribution of the paper is the generalization of the links between the indicators of the efficiency of production factors in the form of recommended inequalities that can be used by enterprises for economically successful development.. [ABSTRACT FROM AUTHOR]

A well-developed financial system plays an important role in financing individual sectors in the country. In this paper, we analyse credit development in the agricultural sector in the Slovak Republic from various perspectives. We examine the relationship between the agricultural sector's characteristics and the volume of funding at the regional level. The paper's methodology is based on a k-means algorithm for clustering the Slovak regions with four criteria. Then we examine the relationship between financial development and agricultural growth by employing the Cobb-Douglas production function. This study uses annual data covering the period from 2008 to 2019. The results reveal that financial development has a significant and positive effect on agricultural production and agricultural growth. [ABSTRACT FROM AUTHOR]

One of the main tasks of controlling is to identify the deviations of actually achieved results compared to the planned and to find out reasons for their occurrence. Lack of attention to this activity can have negative impact on the company's performance. The paper focuses on identification of selected research results that was conducted in Slovak agricultural enterprises. The main goal of the paper is to evaluate and analyse the approach of agricultural enterprises in Slovakia to the implementation of deviations analysis. The basic technique applied for data collection was a questionnaire survey, which was supplemented by a direct interview with managers of selected agricultural entities. The implementation of the questionnaire survey was preceded by a pre-research (pilot study) carried out in the Czech Republic. Obtained data were statistically examined applying the XLStat statistical program. Based on achieved research results we confirmed presumptions from the theoretical background elaborated in the paper, stating that the analysis of deviations is an integral part of controlling. Furthermore, we identify problematic areas for deviations analysis and also controlling implementation in agricultural enterprises in Slovakia. [ABSTRACT FROM AUTHOR]

The paper is focused on dairy sector with the emphasis on the development of consumption of milk and dairy products, including cheese, curd and other dairy products, in the last 15 years in the Slovak Republic and in the Czech Republic. The aim of the paper is to identify the level of milk and dairy products consumption, as well as to identify the main determinants affecting the consumption. Paper is also aimed at milk production with emphasis on the main problems that may affect future development on the dairy market. The primary data are obtained by consumer survey and survey aimed focused on producers of milk and dairy products. Based on the results we have identified that the milk and dairy products consumption by Slovak consumers is lower compared to the Czech Republic and the quality and price are considered as the main determinants influencing the consumption. We also found out that milk and dairy products producers are adapting their production to demand, but it is important to point out the barriers related in particular to the introduction of new technologies into production, rising input prices or growing consumer disinterest in the consumption of milk and dairy products. [ABSTRACT FROM AUTHOR]

This paper explores farmers' perceptions of climate change and their preferred adaptive and mitigatory strategies within Slovakia's Nitra region, aiming to devise recommendations for climate change-oriented agricultural policies. Our methodology incorporates an analysis of perspectives gathered from a regional survey using the Analytical Hierarchy Process (AHP) and SuperDecisions software, complemented by a risk-attitude assessment using the modified Multiple Price Lists (MPL) method. A subsequent heterogeneity analysis correlates these preferences with respondents' socio-economic status and risk attitudes. Our findings underscore the use of improved, resilient seeds as a favored adaptation measure and reveal a correlation between farmers' socio-economic attributes and their climate change strategy preferences. Based on this, we propose inclusive, micro-level agricultural policies that prioritize the unique climatic needs of the Nitra region and strongly consider the priority viewpoints of farmers within this region, aiming to promote sustainable agriculture under changing climatic conditions. [ABSTRACT FROM AUTHOR]

The objective of this paper is to evaluate the position and financing needs of agri-food industry in Slovakia. There is a growth of agri-food sector which is reflected in growing demand for finance. Despite current favourable conditions on the financial market in Slovakia, some viable firms still face a credit constraint. Financing gap exists due to relatively high interest rates for some firms and due to their lack of sufficient collateral. Based on the survey results and focus group meetings we estimate the financing gap. Results show that there is potential for a further expansion of the financing market, with a financing gap estimated at EUR 36.8 mil. Small firms suffer the most from the financing gap and they consti tute 77.4% of the gap. Financing gap and financing needs will be growing in the future. Firms need to increase investment to stay competitive on the market and need to adopt to changes in consumer preferences. This requires further investment into new technology and equipment. Tougher environmental requirements make firms invest into more environmentally friendly production processes. Furthermore, the sector is expected to be growing in the future. Financial instruments in the form of loan guarantees and interest rate subsidies would partly eliminate the existing financing gap. Small firms would benefit from simple and flexible financial instruments serving as guarantees for loans. Large firms would benefit from long-term loans supported by financial instruments. Policy-makers should place special attention on the use of financial instruments in agri-food sub-sectors with potential high value added and high employment. [ABSTRACT FROM AUTHOR]

With the increasing expansion of IoT networks, people are trying to connect more and more devices to data networks. Nowadays, such devices are made possible by platforms such as Arduino and Espressif. In recent years, one of the areas of interest for IoT has been the development and maintenance of beekeeping. Although there are various commercial solutions for multifunctional hive scales (BeeSpy or Alya), they are quite expensive. In this paper, we present a hardware and software solution to this problem. From a hardware point of view, our goal was to design such a device that would be competitive, capture various data using ambient sensors, and communicate over the new SigFox data network that was introduced in Slovakia in 2018. From a software point of view, we aimed to design and implement an application for smartphones. With this application, it is possible to fully visualize all acquired sensor data. The communication between the multifunction weighing device and the user's smartphone is ensured via SMS messages. [ABSTRACT FROM AUTHOR]

Paper is aimed at dairy sector in the Slovak Republic with an emphasis on identifying the determinants causing low demand for milk and dairy products. The primary objective is to identify consumer behavior and the main factors affecting consumer choices in choosing milk and dairy products. The primary source of information is created by the results of consumer survey proving the consumption of milk and dairy products is widespread among consumers, with cheese and yoghurt as the most preferred ones. The results of the consumer survey were confronted with a survey aimed at identifying the views of producers and processors of milk and dairy products. We identified the main issues, particularly the low redemption price of milk, lack of milk consumption and the absence of sale s support. [ABSTRACT FROM AUTHOR]

In the digital era, implementing an effective marketing strategy requires a more comprehensive view of the marketing strategy than in the past. The concepts of older approaches are already ineffective today, but we consider it important to mention them. Organizations focus on improving production, achieving low cost and mass distribution. The product concept is based on the conviction of consumers who prefer products with the highest quality or innovative characteristics. Managers focus on producing quality products and subsequently improving them. The disadvantage is the disproportionate focus on the product (marketing near-sightedness) as on consumption. The sales concept is characterized by a gradual increase in competition and market saturation. With this characteristic, managers are using a more aggressive fixed sales strategy, paying more attention to sales and building improved sales channels. The most modern approach is the holistic marketing concept that came about with the advent of the digital era. It is a dynamic concept conditional on electronic connectivity and interactivity between the agricultural company, its customers and collaborators. It integrates value exploration, building and delivering activities for mutually satisfying relationships and shared prosperity among stakeholders. This paper summarizes the most important results of the questionnaire survey of selected companies carried out under the title: Analysis of the current support of e-marketing activities in selected enterprises of the wine sector in Slovakia. The results of the questionnaire survey are evaluated in the text based on submitted scientific hypotheses. [ABSTRACT FROM AUTHOR]

Effects of membership in cooperative organizations was investigated in many studies, and their results were sometimes controversial. Presented paper contributes to discussion related to cooperative membership by comparing members and non-members, with elimination of self-selection bias, to identify motivation to become member and main effects coming from membership in producer organization. Panel data used in the presented analysis are from Ministry of Agriculture of Slovak Republic at farm level for period of years 2009-2016, which was the most recent available data. Propensity score matching approach was applied to eliminate self-selection bias and to create sample of members and corresponding non-member farms in each year. Difference between these two groups were evaluated by methods of statistical inference. In general, it can be concluded, that in presented period were members of producer organizations more profitable than non-members. Also difference in total revenue was significant in period of year 2010-2013, which means probably successful using of advantage from better bargaining position of producer organization, compared to non-members. Significant difference in profit disappeared in last three years 2014-2016, this could suggest, that membership in producer organization was less attractive to many farms which led to decrease in number of members. Membership in producer organization probably improved economic performance of farms in Slovakia in period 2009-2013, but this advantage disappeared in last years. This could be probably linked to support for producer organizations from European Union in period 2007-2013. [ABSTRACT FROM AUTHOR]

Progress in the field of information and communication technology is a source of advantage that improves quality of business services; increases productivity levels and brings competitive advantage to enterprises and organisations related to agricultural production. However, the use of information and communication technology (ICT) is connected with information security risks that threaten business continuity and information assets. The ICT in small and medium-sized enterprises (SME) and agricultural enterprises is the source of several advantages as well as the risks resulting from information security violation and security incidents. This paper aims at the current situation of information security in SME and agricultural enterprises. Furthermore, the paper provides results of a survey focusing on identification and evaluation of the effects of internal and external factors affecting existence of risks in information security in Slovak SME and agricultural enterprises. Until now, there had not been a similar survey carried out. [ABSTRACT FROM AUTHOR]

The paper assesses the development of profits in the selected legal entities of agricultural primary production in the Slovak Republic as well as the progress in taxation of profit distribution in the form of dividends including mutual correlations in 2009-2014. Mean values of profit or loss are noted for the diverse development of examined variables. The development of mean values of dividends from the net profit is achieved a slight increase in the selected years. The dividends generated in the analysed periods were not taxable because according to the Slovak tax law dividends were not subject to tax. The results of testing of differences significance in profit or loss values in the reviewed commercial companies and cooperatives determined that the statistically significant differences existed in the particular years. In case of dividends no statistically significant differences were found. The statistically significant correlations between profit and dividends were reported by means of nonparametric correlation analysis except for the profit generated in the year 2009 and dividends in the year 2010. [ABSTRACT FROM AUTHOR]

We are currently making great strides in the field of ICTs, which is associated with the availability of other larger volumes of information any species. There are problems with their analysis, storage, as well as security in companies. The aim of the paper was to focus on the agricultural sector in terms of innovation. In the presented article we deal with the issue of cloud computing and its use in management in agricultural enterprises in Slovakia. We characterize cloud computing, its advantages and disadvantages, as well as the current use of this service by agricultural entreprises in Slovakia. We used the method of questionnaire survey and personal interview to investigate the above problems. We also focused on the study of cloud computing and related issues from available foreign sources. The results show that agricultural enterprises in Slovakia use cloud computing services less with comparing to the countries of EU. [ABSTRACT FROM AUTHOR]

As a result of the explosive growth of scientific knowledge and the rapid development of ICT, the world economy is undergoing crucial global changes, which are the most significant since the industrial revolution. Digitization represents the most important element of the fourth industrial revolution, enabling the connection of technology and people. The digital economy is related to the rapid onset and penetration of information and communication technologies into all areas of human activity, which also requires new perspectives on the factors affecting the development and success of the economy. We digitize information and data, digitize the processes and systems that make up the functioning of the company, and digitally transform the company and its strategy. The main task of article is to determine the digital economy in the context of digital transformation and their impact on the electronification of accounting processes in the Slovak Republic. The article defines the progress and level of development of Europe's digital competitiveness in individual EU member states using the Digital Economy and Society Index (DESI). The position of Slovakia and the EU is compared for the period from 2018 to 2022. Slovakia needs to create conditions for the gradual digital transformation of all sectors of the economy. Digitization is also coming to the accounting. The article also describes how the approved amendment to the Act on Accounting as of January 1, 2022 creates space for streamlining the processing and archiving of accounting records. The current change in the amendment to the Act on Accounting thus offers completely new opportunities for working with corporate accounting in relation to internal processes in the company, but also in relation to financial administration or tax authorities. All entities, this also applies to agricultural entities keeping the double entry accounting, are obliged to follow the Act No. 431/2002 Coll. on Accounting as amended. [ABSTRACT FROM AUTHOR]

The paper uses the alternative Markowitz portfolio theory approach, by replacing the stock return with return on equity (ROE) and estimates the systematic risk of unquoted agricultural farms. The systematic risk is standardly measured by the mean-variance model and standard deviation of stock return. In case of unquoted firms the information regarding the market rate of return is missing. To assess the risk and return, the use of individual financial statements is necessary. The systematic risk in Slovak agriculture over the period 2009-2012 was 3% of equity or capital invested with the average return 0,048%. We calculated the systematic risk separately for two prevailing legal forms in Slovak agriculture: cooperatives and companies (JSC., Ltd.). Cooperatives represent farms with lower individual risk and lower ROE, but higher systematic risk. Companies represent farms established after 1989. These farms generate higher profit for the owner with lower systematic risk. [ABSTRACT FROM AUTHOR]

Marketing is one of the key elements of the success of all companies, including the wine sector. Given the importance of wine producers for agriculture, it is important to define and monitor key performance indicators in marketing (KPIs) for a successful stay in the market and a competitive position at home and abroad. Today, the increase in competitive advantage includes mainly marketing, innovation and information and communication technologies. New digital tools and innovations have changed the way we approached data and decisions. A modernly adapted and effective strategic marketing strategy represents for wine companies an understanding mainly of their possibilities as well as the possibilities to influence the customer. This article evaluates the key performance indicators in marketing (KPI) and its relationship and impact on the financial situation of wine producers in Slovakia. The research sample includes 80 respondents. We obtained the primary data through a questionnaire, which was filled in by the leaders of wine companies. We verified the accuracy by means of descriptive statistics and multiple linear regression and Kruskall-Wallis test. We have verified the reliability of the data with the Cronbach alpha test. We have formulated scientific assumptions for in-depth analysis: hypothesis 1 - assumes that key performance indicators have a significant influence on financial situation of selected companies, hypothesis 2 - the use of ICT in marketing is statistically related to the key performance indicators. The results showed a statistically significant impact of KPIs on the financial situation of companies. We have identified significance in customer satisfaction and loyalty, brand awareness and return of investment. However, we were unable to statistically confirm the impact of other indicators (sales growth, market share, gaining new customers). We also identified significant differences in the use of ICT in marketing with key performance indicators in hiring new customers and return on investment. This research contributes positively to the importance of brand building in the eyes of customers as well as customer service, building loyalty and satisfaction, which returns to the loyal approach of customers to the repurchase of wine products and provides advice for professionals. Return on investment helps in more accurate business decisions that can be used when purchasing new equipment (technology), hiring employees, or properly assessing the profitability of marketing strategies. [ABSTRACT FROM AUTHOR]