Analysis and Comparison of Economic and Financial Risk Sources in SMEs of the Visegrad Group and Serbia

Oláh, Judit; Sándor, Kovács; Virglerová, Zuzana; Lakner, Zoltán; Kováčová, Mária; Popp, József

doi:10.3390/su11071853

Cited by 90 publications

(54 citation statements)

References 61 publications

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“…The results obtained indicate that the business environment in Serbia is riskier than in the V4 countries [76,89]. Particularly, the level of legal and personal risk in Serbia is higher than in the V4 countries.…”

Section: Discussionmentioning

confidence: 97%

“…The partial objective is to measure the importance of source of risks by selected non-financial risks (operational, personnel, security, legal and other business risks such as corruption and clientelism). The paper which focused on financial risks using data from this research has been already published [76]. For this reason, financial risks are not covered in this paper.…”

Section: The Aim and Methodologymentioning

confidence: 99%

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The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia

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Risks are a very important part of the business environment. If risks are managed well, they can provide a higher level of competitiveness and sustainability advantages for a company. The first step towards successful risk management is an identification of risks. The aim of this article is to create a risk profile for (small and medium-sized enterprises) SMEs in V4 countries (Czech Republic, Slovakia, Poland, Hungary), compare them to each other and then compare the results with those for Serbia. The data were collected during an extensive research project organized by Tomas Bata University in Zlín in 2017 and 2018. In total 2110 answers of SMEs were analyzed. For the verification of hypotheses, a 5-point Likert scale, Multiple Correspondence Analysis (MCA) and Multiple Factors Analysis (MFA) and ANOVA were used. The level of legal, security, personnel and operational risks is statistically higher in Serbia than in V4 countries, and the lowest level is in Slovakia. Some significant differences among the exposure to risk according to economic sectors were identified.

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Section: Discussionmentioning

confidence: 97%

Section: The Aim and Methodologymentioning

confidence: 99%

The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia

et al. 2019

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“…He explains how businesses can use design to create a unique brand message that connects buyers with a product. (Olah et al, 2019a, Olah et al, 2019b The nature of the creative process leads to unusual solutions that attract people to the brand. Later in 2010, he focused on humanizing the branding process, creating a secure emotional connection that people have with brands.…”

Section: Literature Reviewmentioning

confidence: 99%

Marketing Strategy and Building Brand Value on the Hungarian Market

Zéman¹,

Bogdan²

2019

EMS

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A fundamental feature of the continuous change, which is mainly marked by the globalization, as an accompanying feature of the changing needs and wishes of millions of customers, has created a strategic marketing position. The constant pressure of competition, which in developed countries has gone through to hyper-competition, forces companies to adapt flexibly to the situation. Technological and technological progress, especially in the field of information networks, is changing our world very quickly. Businesses started to focus on supporting the brand, but also a more balanced perspective on the managers' attention than the creators and builders of a successful brand. So, more attention is paid to internal brand building, as its successful future is attributed to the role of creators -employees. This research paper aim is to propose an optimal marketing strategy for building a successful brand and managing its value in a selected company that is starting to enter the Hungarian market. To find out information, we conducted a controlled interview with the business owner, and at the same time, we analysed the market by exploratory questions. We verified the hypotheses to support our design solution for the entry of a new company into the already established competitive market.

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“…Focusing on efficiency and neglecting effectiveness can lead to a temporary profitability. Otherwise, focusing on effectiveness and lack of efficiency can lead to unprofitable growth [25][26][27]. The company should therefore maintain an optimal level of efficiency and effectiveness (the indicators that will lead to sustainable profitability and business growth [28,29]).…”

Section: Literature Reviewmentioning

confidence: 99%

The Effectiveness of Marketing Communication and Importance of Its Evaluation in an Online Environment

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Online marketing communication covers a wide area and thus promotes an extensive reach of advertising to a broad audience. Hotels can achieve certain goals through online communication, mainly an increase of hotel awareness; an improvement of their image; and an increase in the level of customer satisfaction and trust, or brand loyalty. Measurement of the effectiveness of communication tools in the online environment is still a challenge, whether in the academic world or in the business world, mainly due to the complexity of this process. The main objective of this paper is to propose a methodology for implementing an indicator suitable for the evaluation of the effectiveness of online communication activities in the Slovak hotel industry. It uses analysis of the current usage of online marketing communication activities from the perspective of hotel service providers. The methodology should be applicable to support decision-making and actively support the sustainable development of hotels. In order to achieve the objective of the paper, the authors conducted a marketing survey focused on online marketing communication by Slovakian hotels to determine their use and to map the current state or methods of evaluating their effectiveness. Results of the research suggest that hotels in Slovakia perceive evaluating marketing communications online as being important, regardless of the size, length of operation, budget, and class of the hotel. They prefer financial metrics because they are a de facto manifestation of the traditional approach towards investment evaluation. The results also showed that return on investment is the most common metric for evaluating the investments of online communication activities, and that respondents expressed the highest level of confidence in this metric as well. In line with the results, we have proposed return on investment (ROI) as the most appropriate metric applicable in evaluation of the effectiveness of online communication tools.

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Analysis and Comparison of Economic and Financial Risk Sources in SMEs of the Visegrad Group and Serbia

Cited by 90 publications

References 61 publications

The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia

The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia

Marketing Strategy and Building Brand Value on the Hungarian Market

The Effectiveness of Marketing Communication and Importance of Its Evaluation in an Online Environment

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