J 2024

Research on the Impacts of Global Entrepreneurial Environment Changes on Small and Medium-Sized Entrepreneurship

SLEPECKÝ, Jaroslav; Kristián FURIAK; Katarína BUGANOVÁ; Pavol PRIEVOZNÍK; Mária HUDÁKOVÁ et. al.

Basic information

Original name

Research on the Impacts of Global Entrepreneurial Environment Changes on Small and Medium-Sized Entrepreneurship

Authors

SLEPECKÝ, Jaroslav (203 Czech Republic, guarantor, belonging to the institution); Kristián FURIAK; Katarína BUGANOVÁ; Pavol PRIEVOZNÍK and Mária HUDÁKOVÁ

Edition

Systems, 2024, 2079-8954

Other information

Language

English

Type of outcome

Article in a journal

Field of Study

50204 Business and management

Country of publisher

Switzerland

Confidentiality degree

is not subject to a state or trade secret

References:

Impact factor

Impact factor: 3.100

Organization unit

AMBIS University

EID Scopus

2-s2.0-85199633662

Keywords in English

SME;global crisis;business environment;risks;resilience;sustainability

Tags

Changed: 17/3/2025 14:29, Ing. Kateřina Lendrová

Abstract

In the original language

The elementary components of the global business environment and market are small and medium-sized enterprises (SMEs), which play an important role in the economy through the implementation of their business activities. Naturally,they are threatened by the effects of global crises, which appeared to a considerable extent during the COVID-19 pandemic, with ongoing effects on the business sector until the present. This article aims to verify the effectiveness of systems of crisis management, risk management, and business continuity management (CM, RM, and BCM) in increasing the resilience and sustainability of SMEs during a specific global crisis. The authors provide statistical verification of hypotheses using data from the results of a nationwide questionnaire conducted on small and medium-sized enterprises. Based on the results, the effectiveness and positive effect of the CM, RM, and BCM systems in reducing the effects of specific crises on small and mediumsized enterprises have been demonstrated. Companies with a higher level of implementation of the systems generally showed a better handling of the crisis period, while the negative effects of the crisis on their business activities were significantly reduced. These conclusions bring knowledge that complements and supports the previous claims of other authors in the field of crisis management. Due to the lack of empirical research in this area, the results offer an important basis for further investigation of the effective use of CM, RM, and BCM in the context of economic security. Regarding the increasing level of globalization, it can be assumed that similar crises affecting supply chains and the world economy can be expected in the future. Considering the high variability and associated instability of the global business environment, the authors suggest focusing future research on new types of risks and threats primarily associated with technological progress and the shaping of the future character of society