Strategic performance management system and corporate sustainability concept - Specific parametres in Slovak enterprises

Nowadays, a well-performing enterprise can be considered the one that is able to use many opportunities, to adapt to continual changes in the environment, to achieve better performance. Business performance is often seen as an indicator of the enterprise’s results and effects. In the area of business performance and strategic performance measurement system, many studies have been realized which identify the major factors affecting the performance of the company itself. The paper is focused on the analysis and identification of specific factors in the form of localization, turnover of enterprise and others which may have a potential impact on performance. Current trends are focused not only on the performance, but also the consequences of corporate activities of environment. This leads to better competitiveness of companies. In this context, attention is drawn to the orientation of enterprises on particular dimensions of corporate sustainability concept and factors such as company size or capital structure in relation to its application.Ministry of Education of Slovak Republic grant project VEGA [1/0537/16

From financial measures to strategic performance measurement system and corporate sustainability: Empirical evidence from Slovakia

Today’s world brings in many new pulses for enterprises not to focus on well established performance management tools used in the past. There is an obvious need to use new methods of performance management within strategic-oriented management. A good example here is also the concept of corporate sustainability. This concept is focused on company’s performance in the long term, whereby the company essentially follows not only profitability, but also takes into account the process and results of all activities in relation to surrounding community and environment. The main aim of this paper is to analyse different phases of measuring and managing business performance, and also to measure the impact of the selected measurement tools of performance management on the overall business performance of Slovak enterprises, as well as to highlight the relation of the composite index of sustainable development with business performance. The results show the very important link between business strategy and system for measuring and managing corporate performance, which is positively reflected in the achievement of the overall performance. Also confirmed is the relationship with the composite index of sustainable development. © 2016, Centre of Sociological Research. All rights reserved.Ministry of Education of Slovak Republic [1/0537/16

Sustainable competitiveness: How does global competitiveness index relate to economic performance accompanied by the sustainable development?

The research under discussion remains whether higher competitiveness of a country brings higher economic performance and sustainable growth, e.g., in the V4 region. The objective of the paper is to provide the results of extensive research based on verified Eurostat data to explore this research challenge in the V4 countries during the period of 2007-2019. Simultaneously, the objective is to link the country's economic performance (GDP) to urgent challenges of the contemporary world in the form of sustainability and life quality. In the paper, linear regression, multiple linear regression, and ANOVA were used. A significant impact of the Global Competitiveness Index (GCI) on the level of GDP, and the subsequent positive effect of GDP level on sustainability and life quality indicators has been demonstrated. Our research findings propose an unconventional sustainable competitiveness mechanism. The conclusion outlines the direction from improved competitiveness through higher economic performance reinforcing R&D expenditure and hightech employment to better sustainability and well-being. Moreover, the research results bring initial empirical evidence of the functionality of the proposed mechanism in the V4 countries. Based on this, we can offer policymakers the key research findings pointing at the sustained economic growth accompanied by higher ecology, including life quality. At the same time, the drivers of this development are presented in more detail in our paper

Sustainable economic development: The relation between economic growth and quality of life in V4 and Austria

The future belongs to sustainability. It is becoming more important to achieve sustainable economic development. Therefore, in addition to the countries´ economic performance, the continuous improvement of the quality of life should also be essential. The set topic is crucial, even necessary to achieve the ambitious goals of today's society in terms of sustainable economic development. The need for solution highlights the possible changes in the social aspect of economic development. Following this challenge, the objective of the paper is to evaluate the development of 26 quality of life indicators from selected 6 categories in the V4 countries and Austria as a research benchmark country between 2010-2019 and to identify the impact of the level of GDP on these indicators. The descriptive statistics and linear regression analysis are used. Most life quality indicators reveal that the level of the V4 countries is better than the EU 27 average or the same. In conclusion, 61.5% of variables in all countries related to research hypothesis was confirmed, which means that the GDP growth had a positive effect on the improvement of the quality of life within these variables. However, comparing to Austria as a highly developed country, a significant sustainable development gap can be still observed in V4. © 2021, Centre of Sociological Research. All rights reserved.GAAA-Grantova agentura Akademicke alliance grant [GA/6/2019

Environmental management in the context of corporate sustainability concept

The present age is marked by an unsustainable trends not only in the field of production but also in consumption, and concerns all levels of the community. At enterprise level, there is an effort to eliminate these negative trends by the application of several concepts in which environment and security are the essential parts. The paper focuses on environmental management as a significant part of the corporate sustainability concept and reports using of specific environmental tools to promote corporate sustainability. Apart from the tools, the paper also deals with motives that lead enterprises to focus on the environmental protection. The data were obtained through a questionnaire survey among Slovak manufacture enterprises. The focus of the research is transformed into several hypotheses. Several methods of inferential statistics (Interval estimate, Chi-square test, Kruskal-Wallis ANOVA, and Wilcoxon signed-rank test) were used to verify our hypotheses. In hypothesis testing we used .05 level of significance. Based on the descriptive statistics it is evident that 50% of the total number of enterprises (N = 336) use at least one of the environmental management tools. Their using depends on the origin of capital. The results also indicate the individual benefits of focusing on environmental management and underline their importance to the business world

Environmental Management in the Context of Corporate Sustainability Concept

The present age is marked by an unsustainable trends not only in the field of production but also in consumption, and concerns all levels of the community. At enterprise level, there is an effort to eliminate these negative trends by the application of several concepts in which environment and security are the essential parts. The paper focuses on environmental management as a significant part of the corporate sustainability concept and reports using of specific environmental tools to promote corporate sustainability. Apart from the tools, the paper also deals with motives that lead enterprises to focus on the environmental protection. The data were obtained through a questionnaire survey among Slovak manufacture enterprises. The focus of the research is transformed into several hypotheses. Several methods of inferential statistics (Interval estimate, Chi-square test, Kruskal-Wallis ANOVA, and Wilcoxon signed-rank test) were used to verify our hypotheses. In hypothesis testing we used .05 level of significance. Based on the descriptive statistics it is evident that 50% of the total number of enterprises (N = 336) use at least one of the environmental management tools. Their using depends on the origin of capital. The results also indicate the individual benefits of focusing on environmental management and underline their importance to the business world

THE IMPACT OF THE COVID-19 PANDEMIC ON THE ECONOMIC RESULTS IN SELECTED COUNTRIES

The COVID-19 pandemic has affected almost all countries in the world. Its gradual spread has mainly affected the economies of countries, which have changed due to the measures and restrictions in place. There were differences between the size and rate of the indicators given before and after the pandemic. The aim of the paper is to evaluate the impact of the pandemic on the economy of selected EU countries

AGILE COMPANIES – FEATURES AND BENEFITS

Rapid changes in the business environment underline the need for companies to move to flexible management and business models. Business agility as an ability to respond in a timely manner to unpredictable changes becomes the important factor of competitiveness. The main competitive advantage of agile companies is especially the constant innovative ability of processes or products. The aim of the paper is to summarize and reveal key features and main benefits of agile companies

Influence of business performance measurement system and corporate sustainability concept to overal business performance: “save the planet and keep your performance”

Nowadays the dissatisfaction with only fi nancial indicators has led to a focus on non-traditional areas of performance measurement as Balanced Scorecard, environment indicators and others. Moreover many recent studies has focused on the corporate sustainability concept and performance measurement interconnection. The aim of this paper is to identify the relationship between selected management tools and concepts of various development phases of strategic performance measurement systems to overall business performance measured by indicator ROE. Similarly the aim is to identify the relationship between the sustainability index and indicator ROE as a key aspect in terms of the current climate crisis. Our most important fi ndings bring new information and knowledge for the strategic transformation from traditional business performance measurement system to strategic and sustainable performance measurement system. Specifi cally we found out that the BSC methodology has a demonstrable impact on the business performance. Also KPI system and orientation on the environment affect the performance of enterprises. In the case that companies do not have the knowledge information system as a complex system and do not take into account its implementation they tended to have a lower level of performance. This means that the BI knowledge information system has a major impact on business performance. Regarding to the corporate sustainability concept we can confi rm that the direct moderate correlation is apparent between economic sub-index and also composite index of sustainable development and indicator of ROE. The connection of environmental and social sub-index separately to ROE had not been shown suffi ciently. Based on results we can conclude that the index of sustainable development is a challenge for enterprises refl ecting a growing need for change purely short-term oriented, consumerist patterns of production and consumption

Perception of essence of controlling and its use in manufacturing enterprises in time of crisis: does controlling fulfill its essence?

The use of controlling in the business sphere is relatively broad and its essence can be perceived diversely by enterprises of different sectors and sizes. The aim of the research is to identify the current state of the use of controlling in Slovak manufacturing enterprises with an assessment of the perception of its essence in terms of capital structure and business performance measured by the Return on Sales (ROS). Total of 347 enterprises were asked by means of stratified sampling in 2020. Goodness-of-fit test was used when examining the representativeness of the research sample and for individual hypotheses the two-sample test of relative frequencies, relative frequency test, 95% interval estimates of relative frequencies, contingency and Pearson’s chi-square test were applied. Testing confirmed the existence of statistically significant correlation between the capital structure of manufacturing enterprises and the level of wider perception and practical use of the essence of controlling in relation to the performance measured by ROS. In conclusion is demonstrated that the potential of controlling in enterprises is not fully used, especially in the form of comprehensive secondary coordination of management and the possible directions of using it are outlined, with a positive impact on business performance