The issues of risk management in small and medium-sized enterprises (SMEs) have been analysed and discussed for a long time. Nevertheless, it is still necessary to concentrate on this field, especially in the Slovak Republic. SMEs are very sensitive to changes in the business environment which are always reflected in the quantitative characteristics of this sector in a certain time interval. According to various global surveys and studies, risk management represents a significant contribution to the increasing competitiveness of enterprises in changes of the business environment. The aim of this paper is to statistically assess the dependence of perceived key business risks of SMEs on their size in Slovakia based on own empirical research carried out in 2017. The contribution also includes an assessment of key risk sources and an evaluation of the survey results compared to the results of surveys taken last year. Based on the results, market, financial, economic and personnel risks comprise the four most important risks that negatively affect the business environment of SMEs. Dependence perceived by the SME entrepreneurs was found among market factors, personnel risks, and business size. No dependence was found among the financial, economic and business risks. The overall results of the empirical research point to the need and importance of addressing the assessment of key risks and their resources in SMEs in Slovakia. The goal of the paper is to highlight through a relevant study the need to apply risk management in the SMEs and to bring the results of the research in Slovakia closer to world trends.
The worldwide surveys indicate that many enterprises still fight with the application of corporate risk management. Problems with the risk management application are observed in the Slovak enterprises, too. According to our survey, just the market risk is one of the most important risks of SMEs in Slovakia especially when they do not manage it sufficiently. They do not deal with conditions or the preventive measures which could reduce or prevent the problem. The aim of this paper is to present the results of the survey oriented on the business risks faced by the SMEs in Zilina region with a special focus on the market risk and proposing the methodology of enterprise risk management for more effective market risk control. The analysis of the market risk is carried out through the analysis of the selected statistical characteristics using the point and interval estimates and other methods of mathematical statistics. The results of the survey showed that the influence of the market risk on value of the SMEs in Slovakia should not be underestimated.
Projects are a tool that enables enterprises to implement innovation and development activities and achieve the goals in the set time, costs and required quality but they also bring risks that need to be adequately identified, analyzed and assessed. Important tools that can be used in project management in the process of risk identification are expert estimates. However, little attention is paid to determining the accuracy of expert estimates. To verify the accuracy of expert estimates, an analysis of all completed projects for a certain period of enterprise that implemented them was performed. The purpose of the study was to determine the accuracy of expert estimates in the enterprise implementing projects. This was ascertained by analyzing all available completed projects and by Barnard’s test at the significance level of α = 0.05. The Phi coefficient of association was used to determine its extent. In the paper, we pointed out how inappropriate expert estimates affect the completion of the project within the specified period.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.