Selected Problems of Family Business: A Case Study from Slovakia

Abstract

The scientific paper deals with a part of the business sector, which is made up of family businesses. The paper presents the current status of such businesses from the perspective of positive and negative factors which will be linked to the problem areas. In this article, we have focused our attention on some aspects of family business, especially the managerial aspects, because the management of a family business has various differences and specifics compared to other types of businesses. In the theoretical part, we present the current state of the issue, while the empirical part of the article is based on a survey conducted among family businesses using a questionnaire. This article does not aim to highlight the contentious areas of family business. However, it brings valuable findings of business practice. More than 400 enterprises were approached, the resulting sample consisted of 185 family enterprises. Therefore, we understand the results as a case study from Slovakia. Our findings were subject to statistical analysis using several quantitative methods (t-test, regression models) and we present them in the empirical part. Based on our results, we bring the most valuable findings and ideas for further research.

Analysis of Innovation Activities of Slovak Small and Medium-Sized Family Businesses

“…This longer time horizon also allows family owners to tolerate an increased deficit to encourage company's management to participate in research and development (R&D) investment strategies (Asensio-Lopez et al 2019). Research by authors Peracek et al (2020) identified the following innovation factors within the family businesses: product quality and services, customer relationship management, customer requirements, proactive approaches in marketing, and employee qualification.…”

Flexibility of creating and changing employment in the options of the Slovak Labor Code

“…the lack of jobs at the employer, may lead to a situation where the goal of reassigning an employee within the framework of the employment contract cannot be achieved. Peráček et al (2020) see the solution in the legal possibility of reassigning the employee but only in specific cases and in agreement with him for work of a different kind than agreed in the employment contract. At the same time, however, the employer must ensure that the work assigned to the employee corresponds to his/her fitness for work and is suitable for him in terms of his or her abilities and qualifications.…”

Analysis of employee motivation in small and medium-sized companies in western Slovakia region

“…Nabi (2000) defined career-oriented motivation as advancement motivation and the importance of the job. This means that a career-oriented person has a strong desire for professional growth and as a result of this he gets a higher level of satisfaction from work (Peracek et al, 2020). According to Karácsony and Machová (2015), there are numerous critical factors to a successful motivation system.…”