This paper presents the possibility of creating motivational programs for employees working in small and medium-sized enterprises (SMEs). The applicability of the proposed option is verified and ...presented to a medium-sized enterprise operating in the wood-processing industry in Slovakia. Using cluster analysis, three motivational-oriented groups were defined in the category of managers and three similar motivational-oriented groups in the category of workers. Subsequently, the sampling units were tested by the Tukey’s honest significant difference (HSD) test. In this way, the significance of the differences in arithmetic mean and the standard deviation of the individual motivational factors of the monitored sets at the significance level α = 0.05 were defined. The result of the analysis is a plan to create a group motivational program. The content of this program is a common motivational factor for groups, supplemented by employee-specific factors. Currently, businesses apply unified motivational programs based on two, three, or four main motivators. However, improperly designed and applied motivational programs have a negative impact on employees and do not motivate them to maximize performance. By implementing this method in wood-processing SMEs, the company’s performance can be increased, as the needs of most employees would be met.
We analyzed issue of investment measurement and management in companies and we focused on investment effectiveness evaluation methods applied in investment projects or business plans. In mentioned ...area we especially interested in using of investment controlling indicators in tested companies. Valuation based on investment controlling is only one of several ways of approaching valuation, however, as the results show, this approach has its benefits. Aim of our research was to detect if companies in Slovakia apply investment controlling in their management and use certain investment valuation methods. Consequently, the goal was to find out if using of investment controlling has the impact into company's performance. We have collected data trough questionnaire. Research sample consisted from 164 firms from Slovakia. We applied certain statistical methods appropriate for tested variables. Results of our research confirmed our assumption and we concluded that use of investment controlling has an impact into better business performance.
The empirical study defines typical investment behaviour of foreign-owned firms against local firms and highlights benefits and any discrepancies of foreign capital. The paper focuses on industrial ...enterprises in Slovakia mainly from the automotive, engineering and wood-processing industry (N = 164). Results show the significant dependence of foreign ownership and better business performance compared with domestic firms. The performance was expressed through ROE indicator. Enterprises with the foreign participation of property achieve better performance, most typically with ROE above 10% (p-value < 0.05). The better performance, as well as distinctive feature of intangibles and research & development investments, are typically in foreign-owned firms. Intangibles and R&D as crucial investments do not directly cause better business performance in foreign-owned firms, and we discuss the reasons. The research results offer relevant and interesting implications for managers behaviour, also public authorities as well as motives for further investigation of the business performance management and foreign direct investment issues
The indicators, methods and models applied in performance management in the past were largely based on financial indicators and financial management methods. Of course, we do not claim that financial ...indicators are not currently necessary or relevant, but as the business results showed, the management based only on the financial statements is no longer enough. The paper focuses on the presentation of selected research results related to strategic business performance management. With the currently presented issue, we enter an area of research which is not as clearly defined as it was in the case of a traditional financially oriented approach to measuring and managing corporate performance which prevailed in the past. The aim of the paper is to analyse and synthetize findings regarding the chosen, mainly not traditional methods and models, which have started to be used for strategic business performance management. The results of our empirical scientific study provide interesting and valuable findings that the overall performance of industrial enterprises in Slovakia is to be looked at comprehensively strategically and not just in financial terms. Why are some industrial enterprises more efficient than others? What methods and procedures are applied by more efficient companies? The answers to these questions can be found in our paper. We recommend industry enterprises to apply selected methods and models of strategic business performance management. The key tool in increasing the overall performance of the enterprise in the selected Slovak industries seems to be employing a system of strategic performance management, supported by a knowledge-based Business Intelligence Information System.
We focused on business performance in companies and in scope of investment measurement and management we analyse using of investment effectiveness evaluation methods. Goal of our research at first ...was to detect what investment valuation methods apply companies in Slovakia in their management and what determinants cause it. Consequently, the aim was to find out if using of certain investment valuation method or some valuation approach consisted from several methods, has the positive impact into business performance. Analysed data were collected trough questionnaire. We defined several hypotheses and decided to apply two kinds of statistical methods appropriate for tested variables. Results of the research confirmed some assumptions and we state that use of investment valuation methods is limited by foreign ownership of company and certain methods caused better business performance.
The actual trend in business management is the transfer from functional to process approach. Process approach is considered as a key tool for improvement of business processes. Implementation of ...process principles into management brings a lot of changes with positive effects as higher competitiveness, productivity and performance of enterprise are. The paper deals with results of performed quantitative research focused on analysis of principles, methods and tools of process management used in Slovak enterprises in wood-processing branch. The aim of the paper is to determine the current status of using process management principles in Slovak enterprises.
Business risk is assessed in relation to specific criteria of efficiency valuation of the investment activity. By using risk analysis, available methods and techniques applied in risk analysis as ...tool of investment measurement and management, the company obtains information that will support its decision and on this basis it can better decide in acceptation or rejection of the investment. We focused in our paper on investment risk analyses applied in tested firms. We tried in our research detect if companies in research sample apply any investment risk analysis, what kinds, methods or concept of risk evaluation they use. The main goal was to find out if using of certain risk analysis has the impact into business performance. We have collected data trough questionnaire. Research sample consisted from 164 firms from Slovakia. We applied certain statistical methods suitable for tested variables. Results of our research has shown, that companies using some risk analysis, achieved a slightly higher performance.
Investment decision-makings should be regarded in each business entity as the crucial factor for its long-term prosperity. An acquired decision affects the performance of the company as well as its ...competitiveness in long time. If a competent investor has an interest to make a qualified investment decision, it means that he must primarily determine the time and risk factor. In the capital-intensive investment projects, attention must be paid to the risks that the preparation, realization and use of investment bring. The aim of this paper is to identify critical factors that affect the expected profit and cash flow in the implementation of investment projects by applying the most advanced models used to quantify the risks of investing. Research was conducted in a wood processing and furniture manufacturing company. The results given by cash flow indicatiors show that the investment project is feasible and effective. By changing some parameters, sensitivity analysis shows that the main risk factors for the project in question are the selling price, volume of production, material costs and labor costs.
The presence of foreign direct investment in certain sectors or country determines several factors - the determinants of foreign direct investment. The article analyzes the selected factors of FDI ...inflows to the Slovak Republic and to the wood-processing industry in SR; it focuses primarily on assessing the contemporary situation of the business environment in Slovakia and investment incentives provided to foreign investors. The article also presents the development of foreign direct investment in Slovakia, in the branch of wood processing, analyzing the effects of FDI in specific conditions of the Slovak Republic and wood-processing industry.
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