Business Environment Analysis Based on the Global Competitiveness Index (Gci) and Doing Business (Db): Case Study Slovakia

Abstract

Since the quality of the business environment is decisive for the inflow of investments in the country, this paper is focused on a brief analysis of the Slovak business environment based on international indicators. Assessing the quality of the business environment is the assessment of the level of the individual components of the business environment. A high-quality business environment that creates the conditions for long-term economic growth is a basic precondition for business development and increasing the competitiveness of the country. Elements of the business environment in the country constitute a legislative framework for business and law enforcement, administrative and financial (tax and fee) burdens, interference with business freedom and business infrastructure (conditions, quality and availability of key factors of production and business services). It is clear from this that the business environment is a complex variable, including many areas. Therefore, this paper will point to some selected areas of business environment in Slovakia. A sustainable business environment constantly innovates and simplifies individual indicators affecting businesses on the market. The paper provides results of the analysis of business environments of Slovakia over 2012 -2018 (GCI) on the basis of data provided by organisations dealing with business environment surveys such as the World Bank and World Economic Forum.

The Human Resources as an Important Factor of Regional Development

“…human or organizational capital) has also positive impact on firm performance (Fiala and Borůvková, 2011). Human resources also affect the entrepreneurship that contribute to the overall regional development (Fabuš, 2018). Thus, the quality of human resources management will determine the success or failure of any development effort (Valickas., Raišienė, & Arimavičiūtė, 2017), especially concerning industrialization, adopting technical change and global market response (Yussof & Kasim, 2003).…”

Slovak business environment development under the industry 4.0 and global pandemic outbreak issues

“…To better illustrate the effects of the Covid-19 pandemic on the economy, the Figure 1 presents the GDP development of selected countries and EU in a year-on-year comparison for the last quarter of 2019, the first and second quarters of 2020. According to Fabus (2018) Slovak economy is too small to significantly influence those statistics. As it depends on foreign demand, the economic slowdown in Slovak main foreign trade partners, the economic slowdown is also anticipated in Slovakia.…”

Business environment analysis based on the Doing Business: case study Slovakia

“…In response to this changing environment, organizations and individual managers will need to adapt (Rugman and Collinson 2012). Discontinuous changes in the legal, political, economic, and cultural aspects of the international business environment will continue to emphasize the need to understand its intercultural aspects in the foreseeable future (Thomas and Peterson, 2018) Business, respectively business environment are also dealt with in Slovac publications by authors such as Tancosova (2013Tancosova ( , 2014, Hudakova (2010), Majtán et al (2012), Fabus (2018 who develops knowledge on the personal qualities of an entrepreneur, which are based on their professional, practical as well as business experience (Majtán et al, 2012), Martinovičová et al (2014), who partially focuses on the issues of business risk (Martinovičová et al, 2014), Juríčková et al (2006), who characterises three levels of business environment and their analyses (Juríčková et al, 2006). New trends in business and startup communities' amoung young people are focusing on creativity, new ideas and inovations (Hudakova, Papula, 2016).…”