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The research’s objective was to develop a thorough model of the viability of SMEs in the V4 countries based on predetermined variables. The following factors were defined: human resources management, business ethics, corporate social responsibility, company digitalisation, environmental considerations, financial management, and sustainability of SMEs. The model was developed on the solid empirical research carried out in the Visegrad Four countries in June 2022 by the renowned external agency MNFORCE using a sample of 1,398 respondents and the “Computer Assisted Web Interviewing” technique. According to the research, the developed complex model of SMEs’ sustainability depending on the listed criteria is statistically significant. Each investigated factor has a favourable impact on SMEs’ sustainability. The study’s findings supported the notion that the environmental aspects of the business have the strongest positive impact on the long-term sustainability of SMEs. The study’s findings indicate that the management of human resources, finances, and the degree of digitalisation of SMEs significantly influence the viability of businesses. The findings provide an important platform for managers responsible for the sustainability of the SME segment at the worldwide level (International council for small business), national level (particularly for V4 nations), as well as institutions supporting SMEs and SME owners.

This paper aimed to present and quantify the impact of significant HRM factors on the survival of SMEs in the V4 countries. In June 2022, researchers conducted a study in the Visegrad Four countries to understand the attitudes of SMEs. The study employed a random sampling method and included 1,398 respondents. The established scientific hypothesis was verified using linear regression modelling at a significance level of ɑ = 5%. The study found a link between specific HR practices and the medium-term survival of SMEs in the Visegrad Four countries. The intensity of this dependence varies across the V4 countries. Czech respondents emphasized the importance of investing in improving the qualification of their employees in the context of firm sustainability. At the same time, Slovak SMEs drew attention to the importance of the existing incentive system for employees. SMEs in Poland strongly and positively perceived the importance of human capital in the company and regular evaluation of employee performance in their attitudes. A somewhat surprising finding is that in Hungary, the individual HRM factors were not statistically significant. The aggregate model for all V4 countries showed the highest intensity of dependence between the defined variables.

The aim of the paper is to define, quantify and compare the significant attributes of the impact of the environmental attitude of SME managers on the use and implementation of CSR in the V4 countries. The empirical research, which was aimed at identifying the attitudes of small and medium-sized firms, was conducted in June 2022 in the Visegrad Four countries (Czech Republic, Slovakia, Poland and Hungary). The data collection was carried out by an external company MNFORCE according to a questionnaire designed by the research team. The selection of respondents was made by random sampling from the agency's database. In the Czech Republic, the total number of respondents was 347. In the Slovak Republic the total number of respondents was 322. In Poland the total number of respondents was 381 and in Hungary the total number of respondents was 348. To test the statistical hypotheses, the regression and correlation analysis method (LRM) was used at a significance level of alpha = 5%. The results of the research showed that the positive attitude of SMEs towards environmental issues and doing business with respect to the environment influences the attitudes of entrepreneurs towards corporate social responsibility in the V4 countries. Knowledge of CSR concept is positively influenced by SMEs' attitude towards environmental aspects of business. As long as entrepreneurs behave responsibly towards the environment, it is assumed that they will positively perceive the possibility of using the CSR concept in the management of the company. Furthermore, the benefits of CSR are more widely realised by environmentally conscious entrepreneurs. Environmental protection is an integral part of socially responsible business and if entrepreneurs choose to run their company and business activities with environmental protection in mind, they are more positively inclined to implement other CSR pillars.

Small and medium-sized enterprises (SMEs) play a crucial role in the global economy. This article examines SMEs' financial management attitudes in the Visegrad Four countries, aiming to understand how these attitudes impact the firms' long-term sustainability. The empirical study, conducted in June 2022, involved 1,398 respondents, comprising owners or top managers of SMEs from V4 countries. The research explores various facets of the long-term viability of companies over the next five years. Central to the investigation is understanding how managerial comprehension of critical financial management aspects, the willingness to embrace financial risks, and effective risk management contribute to a company's enduring success. Additionally, the study assesses how a positive evaluation of a company's financial performance correlates with its overall longevity in the business landscape. Results indicate that financial management significantly influences SME stability in the medium term. Factors positively affecting SME stability include a proper understanding and management of financial risks, along with a positive assessment of the company's financial activities. Correlation analysis suggests that the perception of business continuity over a 5-year horizon moderately depends on understanding key financial management aspects, accepting financial risks as part of daily operations, and adeptly managing them. A positive vision of V4 SME management regarding their own future emerged as a crucial factor in the study. In conclusion, the article underscores the importance of effective financial management practices, risk comprehension, and positive self-assessment for SMEs to achieve sustained stability in the dynamic business landscape.

The current study investigates how institutional constraints and firms’ and entrepreneurs’ characteristics affect business recovery. Some elements have not yet been rigorously examined in the existing literature, especially not concerning the post-communist countries’ business recovery component and the same is the research gap current study intended to address. To evaluate the study model, ordinal logistic regression was used. More than 300 valid questionnaires are collected from the Czech Republic, Hungary, and Serbia. The findings show that factors such as firm tenure and size, location, sector, entrepreneurial motivation, product change, etc., have conflicting effects on business recovery. Some of the outcomes of the present study is supported by the existing studies and some requires further research. The study focuses on the less explored independent variables and their association with business recovery, specifically on SMEs, which highlights the paper’s originality. The output of the current study adds to the existing literature of business recovery and institutional constraints. Policymakers interested in removing institutional limitations and promoting a quicker business recovery for SMEs are drawn to the research. The study findings are also helpful from a managerial standpoint because business owners and managers significantly impact decisions about entrepreneur motivation, product change, and other issues.

Research background: The research has two objectives and employs a serial mediation approach. First, using the general strain theory, it examines the mediating role of negative feelings and impact of economic adversity on people's risk tolerance and prudent financial behavior. The second is determining the various categories' variations according to age. Purpose of the article: The study's main objective is to evaluate financial behaviour of people with lower and medium incomes after the second wave of COVID-19 in India, and to contribute to the body of knowledge on general strain theory. Methods: The study examined the proposed framework and tested the serial mediation model based on the general strain theory used as a survey method for data collection, targeting lower and middle-income individuals in India's most populated state. The study applied PLS-SEM to test the framed hypotheses. Furthermore, the Kruskal Wallis test was applied to identify the difference in the various groups classified based on age. Findings & value added: The results reveal that economic hardship significantly influences improved financial behavior. Risk aversion attitude, loneliness, and depression mediate the relationship between economic hardship and financial behavior. Moreover, the study found quite a few significant differences between the different age groups. The present study will add to the existing literature on financial behavior under the scope of general strain theory and probably be among the few that test general strain theory with financial variables impact on lower and middle-income group individuals from a developing nation in post-COVID-19 period.

The crisis caused by the coronavirus pandemic affects the daily operation of organisations, which also brings changes in the life of their workforce. Managing organisational change has been a significant challenge for organisations for several decades. The aim of the research is to assess the behaviour of affected employees toward organisational change. It is examined how different groups of employee's experience change in general and what they think about organisational change. Furthermore, it is explored whether employees understand the motivation behind the change and how does the change impact their organisation. To answer the research questions, a comprehensive questionnaire survey of small and medium-sized enterprises in Hungary was conducted in autumn 2021. The suitability of the application of factor analysis evaluating the dependence of selected areas of the questionnaire was supported by Barlett test a Cronbach's alfa coefficient. For individual hypotheses two-sample t-test, contingency table analysis, and Pearson's Chi-squared test, were applied. The evaluation of the 215 questionnaires shows that the behaviour of employees toward organisational changes is different. The difference in attitudes to the benefit of organizational change for employees were identified, but not for enterprise. Furthermore, the difference in attitudes between employees who have undergone organizational change in the enterprise and those who have not undergone organizational change, were identified too. It is interesting that contingency between the extent to which managers play a role in change and the well-executed nature of change were detected. The practical usage of the research can be helpful for SME management, especially in the HR field. The management can consider that employees may be afraid of the changes if they are ahead of them, but if the change is handled well, people will think positively of it.

The papers' objective was to present essential factors of CSR conception, quantify their intensity and compare these factors within the countries of V4. The research was conducted through an online questionnaire in the countries of V4 (Czech Republic. Slovak Republic, Poland, and Hungary) from September 2019 to March 2020. The total amount of valid questionnaires was 1,585. Stated research hypotheses were tested by chi-square and Z-score Some interesting conclusions as low knowledge of CSR concept, low intensity of (SR implementation. low ability to identify positive effects of CSR were revealed by the research whereby the opinions differ in the Czech Republic and other countries of V4. Despite some research limitations, the study's findings should be considered in light of new trends and findings. It could be argued that the corona crisis would highly determine the results of the empirical research. On the other hand. it could be assumed that the economy will gradually recover and return to normal, which causes that these results will become relevant again.

Research background: The intensity of the personnel risk perception in SMEs is a crucial factor contributing to the application of risk management practices. Purpose: The objective of the study is to identify the intensity of perception of personnel risks and their manifestation in the form of staff turnover, error rate, and employee effort to improve their performance in SMEs in the V4 countries. Research methodology: The 1,585 companies in the V4 countries were randomly selected and surveyed. The descriptive statistics and Pearson correlation coefficient (Chi-square and Z-score) were used for hypotheses verification. Results: The results show heterogeneity in the perception of personal risks in the V4 countries. Compared to the Czech Republic, the intensity of perception of personal risks differs in Hungary and Slovakia (p-value < 0.0001/0.0404). However, the perception of employee turnover is different in Hungary (p-value = 0.0078), but not in Slovakia and Poland (p-value = 0.5218/0.4268). Perceptions of employee skills differ in Hungary (p-value = 0.0253), while the differences in Slovakia and Poland are not statistically significant (p-value = 0.1104/0.2414). Performance improvement and competitiveness in the workplace differ in Slovakia and Hungary (p-value = 0.0134/<0.0001). Novelty: The study fills in the gap in the area of perceived personnel risks and their manifestations and provides valuable proposals for taking measures concerning the limitations of SMEs. © 2022 Zoltan Rozsa et al., published by Sciendo.

The objective of the paper was to present current theoretical findings in the area of strategic management of small and medium-sized enterprises (SMEs) in the Visegrad Four (V4) countries. Within the stated objective, the weight of individual strategic management factors was quantified and trends in the Czech Republic were compared with other V4 countries. Empirical research was conducted between October 2019 and March 2020 in V4 countries by means of an online questionnaire. The overall number of accepted questionnaires was as follows: Czech Republic (CR): 454, Slovak Republic (SR): 368, Poland (PL): 364, and Hungary (HU): 399. Questionnaires were completed by company owners and top managers. The empirical research provided several interesting findings. On the one hand, SMEs confirmed that strategic management is an important part of corporate management; on the other hand, strategic management is not implemented in the everyday life of SMEs and is not implemented through action plans and programmes. The level of agreement with the statement that quality strategic management improves the competitiveness of enterprises and their stability in domestic and foreign markets was not very high. Not surprisingly, SMEs have significant weaknesses in monitoring and personal risk management. The research results point to the need for increasing the level of strategic risk management in the segment of SMEs, which is an important factor in improving their competitiveness in a globalizing economic environment.

Our research examined the attitudes of owners and managers of small and medium-sized enterprises in the V4 countries, who behave responsibly - they use corporate social responsibility in their managerial practice on issues focused on the market and operational area of business. The paper is based on a questionnaire survey with data collection from September 2019 to January 2020. Statistical methods of Pearson's chi-square and z-score were used to assess the hypotheses. The results proved that there are significant differences in companies in services and tourism in the context of implementing the CSR concept. Entrepreneurs who implement social responsibility with a significant positive difference agree that a company places great emphasis on the innovation of its products and services. Researchers found that the sector has an impact on the perception of decreasing customers' requests on specific products/services. We found that corporate social responsibility and its implementation in corporate practice positively affects the relationship of V4's small and medium enterprises in the services and tourism sector to service production innovation issues, which helps increase business performance and decline customer complaints. © 2021 Center for International Scientific Research of VSO and VSPP. All Rights Reserved.

Social media has become explosive, permeating every sphere of the socio-cultural lives of individuals and businesses, and causing nations to technologically evolve. The dramatic growth in the adoption and use of social media has become beneficial to Small and Medium Enterprises (SMEs), significantly contributing to resolving a nagging challenge of effectively advertising their goods and services. Consequently, SMEs can achieve business growth and sustainability through increased adoption and harnessing the opportunities provided through the use of social media. The COVID-19 pandemic has provided an impetus for both consumers and SME businesses to leverage interaction through social media, which may lead to business growth. This research thus sets out to identify how social media contributes to the growth of SMEs within a developing country context. To accomplish this objective, primary data was collected from SMEs in the hospitality industry across the sixteen administrative regions of Ghana using survey and simple random sampling techniques. Questionnaires were distributed to the managerial staff of each randomly selected survey participant. Out of the 900 questionnaires distributed, 718 were filled correctly for the data analysis. The researchers quantitatively analyzed the responses using Partial Least Square-Structural Equation Modeling(PLSSEM) statistical software ADANCO 2.0 version. The results indicated that Small and Medium Enterprises are capable of using social media for customer attraction, business marketing strategy, communication channel and increased financial performance. © 2021 John Amoah et al., published by Sciendo 2021.

The goal of this study is to investigate the role of market information on the quality of the relationship between farmers and their buyers, and also plans for future activities in a farm. Although there is research which sheds light on the role of communication and shared information between the trading partners, yet there is a need to provide sound evidence that brings more clarity to the role of market information in different aspects of trading relationships. Primary data are collected and analysed with the aim to test the above linkages. 403 complete questionnaires have been collected in different agribusiness areas in Albania. To test the mentioned relationships, partial least squares method of structured equation modelling (PSL-SEM) was used. Reliability, discriminant and path analyses were done. The results show that market information positively affects the relationship quality (satisfaction, commitment and trust), while plans for future activities are influenced by farmer’s commitment, trust, and age, and also incomes from agricultural activities. This work contributes to the existing literature, in particular in the agribusiness field, by offering extra evidence from a developing country context. © Foundation of International Studies, 2021.

The article aims to identify the perception of issues related to the use of social media in the business environment of small and medium-sized enterprises in the Czech Republic, Hungary, and Poland. The authors chose the concept of comparing entrepreneurs who implement corporate social responsibility with other interviewed entrepreneurs. An interesting comparison was made from the collected data. The article is based on a questionnaire survey of 1217 respondents. The study was conducted from September 2019 to January 2020. The chi-quadrat tes t and z-score were used to evaluate statistical hypotheses. The results showed that Czech entrepreneurs implementing corporate social responsibility have more negative answers than the surveyed entrepreneurs in other countries. Thus, less than 28% of Czech corporate social responsibility entrepreneurs agree that social media helps increase corporate growth, while in Poland - up to 49%. As many as 53% of corporate social responsibility entrepreneurs in Hungary and Poland agreed that social media could respond more flexibly to market developments. Czech entrepreneurs were lagging behind 35% of them. The results showed no statistically significant differences in all research questions regarding entrepreneurs without the implemented CSR concept. The article results suggested that Czech CSR entrepreneurs did not see the potential benefits of social media use. Although the study focuses only on 3 central European countries, the results are not generalizable. However, they are useful for those who promote positive impacts on companies through the social networks and organizations that promote corporate social responsibility. One of the tools for transparent communication with customers/suppliers could be by communication via social media. The study's findings could further help other entrepreneurs consider the benefits of social media in doing socially responsible business.

The aim of this research paper is to explore the role of conflict between trading partners in terms of relationship quality (satisfaction, commitment, and trust) on contract farming. Even though there is research on the above issues, yet there is lack of research on the role of conflict between partners in terms of relationship quality on contract farming. Thus, there is a need to offer evidence that brings more clarity to such a role of conflict between trading partners. To test the hypothesized relationships, primary data are collected in different agribusiness areas in Albania. Altogether, 640 successful questionnaires are filled in. The relationships are tested using the partial least squares of structured equation modelling (PSL-SEM) method. The key finding is that a conflict between trading partners influences contract farming and mediates the effects of the farmer’s satisfaction and trust in the relationship with their buyer on contract farming. This paper enriches the existing literature, since it provides additional insights from a developing country context. © 2021, Centre of Sociological Research. All rights reserved.

The main purpose of this present study is to elucidate the potential factors that have sustained the small and medium enterprises in the tourism sector in a developing nation like Ghana. Having considering the developmental contributions from the SMEs in the tourism sector to the nation, is it extremely important to dissect this course. The sustainability of SMEs in the tourism sector has always become an issue of discussion. It is of this course that the researchers took the step. A questionnaire of 102 responses was therefore received from the employees of the selected SMEs in the central of the country out of the 120 administered. A quantitative approach method was therefore deployed for the study. The selec-tion of the respondents for the data collection was by non-probability sampling technique specifically convenience sampling. A PLS-SEM software version ADANCO 2.0 version to use in data analysis. Consequently, the present study is beneficial to both industry players or policymakers in the sector of tourism among SMEs and has a valuable contribution to the literature by adding more knowledge positively to the positive factors contributing to the sustainability of tourism in developing na-tions using Ghana. © the authors, 2021. All Rights Reserved.

Social media has been an instrumental tool that Small and Medium Enterprises(SMEs) can benefit from integrating it's into their marketing systems towards their growth and development. The study revealed that SMEs are in the right direction by adopting social media as a game-changer towards their growth and development. Small and medium enterprises would enjoy possible benefits like an increase in customer base, market value, a modern tool for communication, and an increase in profitability. The researchers adopted the quantitative approach towards this study objective. Questionnaires distributed were therefore answered by the managerial staff of service-based organizations in the insurance industry. Out of the 135 questionnaires distributed, 105 returned were dully filled correctly for the data analysis. The approach of PLS-SEM software was used in analyzing the data to established the meaningful results of the findings. The findings of the study are beneficial to practitioners to reflects on their marketing strategies and also contribute to the academic field. © 8th European Conference on Social Media, ECSM 2021.

The purpose of this study is to elucidate the practices that have accounted for the survival of hotels in a developing nation. The study is a qualitative inquiry; the researchers saw the need to adopts document analysis as a methodology to achieve the study objective. The usage of document analysis was to have access to a voluminous scientific paper published in the study area and to make a concrete revision out of that. The study centered on hotel industries in mid-sized to large enterprises. The database of Web of Science, Google Scholar, and Scopus was used to access the information needed through the keywords search to draw a meaningful conclusion. The researchers discussed the impacts of decision-making, technology adoption, and human resources by management on hotels. In all, thirty-Nine scientific papers were used out of the numerous papers downloaded which were all published in English. The study, therefore, has both theoretical contributions to literature and likewise to industry players or practitioners in the current era of the business environment in the field of hotel industries. A study limitation is also discussed in the study. © The Authors, (2021). All Rights Reserved.

The aim of the study is to find out the perception of the concept of corporate social responsibility (CSR) by the segment of small and medium-sized enterprises in the Czech Republic. In connection with the objectives of the study, a questionnaire survey was carried out on a sample of 419 respondents – business owners and managers. The data were collected from September 2019 to January 2020. χ2 and Z-score were used to assess the hypotheses. It was found that there were statistical differences in the perception of some aspects of the positive impact of the introduction of the CSR concept in case of monitoring responses based on the geographic scope of the business. The results showed that although the manager should take into account the ethical and moral implications of his decisions, less than half of the respondents are familiar with the concept of CSR and enforce it in their management practice and ultimately managers cannot identify positive benefits from CSR implementation – it declares positive answers whose values oscillate around 30%. The findings show that there are no statistically significant differences in the answers of managers depending on the size of the company - this proves that micro, small and medium enterprises, respectively their managers do not differ in their attitudes to the topic of CSR. The final effect of the paper is to show the perception of the concept of CSR of entrepreneurs - respondents in the Czech Republic.

BACKGROUND: Lotteries are probably the most geographically widespread and one of the most profitable types of gambling in terms of revenue in the selected country. Players in Slovakia can place a bet in 9 lotteries, including additional games. AIMS: The main goal of this paper is to present potential conditions for the development of lottery business in the Slovak Republic, including legal definitions of lottery types, legislative restrictions and state regulation. A separate part of the paper is dedicated to analysing the results of a questionnaire research aimed at finding out the preferences of selected types of gambling. METHODS: The study was carried out in Slovakia and focused on lotteries. Data collection took place from 1st March 2020 to 1st April 2020. Chi-square test and Z-score were used to assess selected hypotheses. RESULTS AND CONCLUSION: Interesting findings have emerged from the research. The questionnaire’s possible reach was 7,537 people during the one-month data collection, with the return of 129 (1.71%) responses. In total, 33.3% of respondents take part in gambling, 20% of respondents place bets in lotteries (60.5% of gamblers) and the most common form of placing a bet is through a terminal (80.8% of players) – in a facility. There are no significant statistical differences in terms of the respondents’ geographical domicile on the frequency of gambling, participation in any types of games or the average amount of the deposit, invested in gambling. In addition to the specific form of the corporation specified by the legislation – the national lottery company – it is possible to operate only a bingo-type lottery to other business entities. For this reason, business in the lottery segment in Slovakia is minimal for other companies. © 2020, Sdruzeni SCAN. All rights reserved.