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Research background: The sustainability of small- and medium-sized enterprises (SMEs) represents a significant scientific and professional problem in the current turbulent period because these enterprises play an important role in any country's economic and social systems. Purpose of the article: This paper aimed to define the significant sustainability factors of small and medium-sized enterprises and to quantify their impact and importance on the sustainability of SMEs. The areas of Human Resource Management, Corporate Social Responsibility, and financial management were defined as significant sustainability factors. Methods: Empirical research, on which the scientific hypotheses were formulated and evaluated, was conducted in June 2022 in V4 countries (Czech Republic, Slovak Republic, Poland, and Hungary) using a structured questionnaire. The study accumulated a sample of 1398 respondents. Data collection was conducted through an external agency, MN FORCE, operating in Central European countries. The Computer Assisted Web Interview (CAWI) method was used to record respondents' perceptions. Descriptive statistics, correlation analysis, and linear regression analysis were used to evaluate the hypotheses. Findings & value added: The research showed that all defined factors in the areas of Human resource management (HRM), Corporate social responsibility (CSR), and financial management of the firm had an impact on defined sustainability attributes. The greatest impact was found on the firm's financial management, followed by CSR and HRM. The empirical results confirm that the intensity of the independent variables varies across the V4 countries. These results also show that the intensity of the selected HRM, CSR, and financial management factors of a firm is higher in the integrated models than in the models for individual V4 countries. The research results have shown that a range of factors determine the right attitude towards the sustainability of companies. In this context, economic policymakers and entrepreneurs must perceive sustainable growth as complex and apply a systemic approach to its design and implementation. [ABSTRACT FROM AUTHOR]

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Research background: According to the EU agenda, CSR should be considered an integral element of the current organizational strategy, including SMEs. While the debate continues about the optimal approach for successful CSR adaptation in SME, yet there is a need to shed light on the impact of owner-manager's demographics on CSR practices. Purpose of the article: The paper aims to examine whether owner-manager's demographics (age, gender, education) matter for the implementation of CSR or not. Methods: The study is based on a questionnaire filled in by owner-managers of SMEs operating in Czechia (454) and Slovakia (368). Factor analysis and nonparametric methods are used to test the hypotheses. Findings & value added: This study shows that the relationships between CSR and owner-manager's demographics are not alike between Slovakia and Czechia. Compared to owners, the evidence shows that the Czech managers are more oriented toward the CSR practices, while in Slovakia there is no difference. Such finding can be explained by Hofstede culture difference. In addition, analysis demonstrates that female Slovaks are more oriented to CSR than men, while it is not true in Czechia. Moreover, Czech individuals who graduated in the same field as their business are more oriented to the CSR, whereas in Slovakia this is not. In addition, young and old Slovak entrepreneurs are more oriented to the CSR than those 35-55 years old, manifesting a U-shape type of relationship. The originality of this work is manifested by the fact that it enriches the literature since it is among the first studies to analyze the relationships between owner-manager's demographics and CSR in the SME segment for Czechia and Slovakia. [ABSTRACT FROM AUTHOR]

Personnel risk significantly affects the operation of small and medium-sized enterprises. The aim of the paper is to define and present significant factors affecting the perception of personnel risk in the SME segment, and compare the current status and development in the Czech Republic and Slovakia. The empirical research was conducted in 2020 in the SME segment in the Czech Republic and Slovakia via an online questionnaire, using a sample of 822 respondents. The obtained data were evaluated using the Chí square and Z score. Personnel risk significantly affects the SME segment and its business activities. This risk is perceived as the most significant business risk in both countries, even though its intensity is moderate and does not have a heavy negative impact on SMEs' activities. The overall evaluation of personnel risk's impact on SMEs' activities is similar in both countries. The evaluation of employee turnover was relatively positive, as a considerable part of entrepreneurs stated that turnover is low and does not have a negative impact on their business. The evaluation of turnover was similar in both countries. Based on entrepreneurs' statements, there are certain gaps in employee error rate, which affects their business. Slovak entrepreneurs provided a worse evaluation of the quality of their employees than the Czech entrepreneurs. Entrepreneurs in both countries are dissatisfied with the way their employees strive to improve their performance or how they compete among each other. The comparison based on business size and age did not yield significant differences, nor did it provide a clear trend despite the general belief presented in literature that larger enterprises have a better access to important fields of business management. [ABSTRACT FROM AUTHOR]

The focus of the present paper is to identify and defines the important factors of strategic management in SMEs with a specific focus on the service sector and to compare its current situation in the Czech Republic and Slovak republic firms. To shape the study, survey-based research planned and conducted in the Czech Republic and Slovak republic over SMEs in the service sector. The data were collected from the owners or top-level managers, the total sample used in the study was 822, 454 respondents from the Czech firms and 368 firms from the Slovak republic. The study employs basic statistics tools, percentages and mean values, used Z-score to compare the respondents in the Czech Republic and Slovak republic. The major findings of the study reveal that majority of the firms in both the countries use strategic management as an integral part of corporate governance and believe that strategic management usage improves the competitiveness of the firms and its stability in domestic and foreign markets. Another interesting finding reveals that the business sector is not a statistically significant factor in evaluating the sources of strategic risk, found from the firms of both countries. The paper adds to the existing literature of SMEs, investigated the use of strategic management tools for their sustainability and competitiveness. As the key aspects of strategic management are much used in large size organization but less explored in the smaller segment. The outcome of the study can help to understand the SMEs' attitude towards strategic management usage. It is very useful for long term survival, stability, and expansion, as both countries' economy is heavily depending on the SMEs. [ABSTRACT FROM AUTHOR]