scholarly journals Impact of global changes in the business environment in relation to risk management

2021 ◽  
Vol 92 ◽  
pp. 03004
Author(s):  
Katarína Buganová ◽  
Jana Šimíčková ◽  
Michal Brutovský
Keyword(s):  
Risk Management ◽  
Value Added ◽  
Business Environment ◽  
Global Market ◽  
Point Of View ◽  
Entrepreneurial Activity ◽  
Global Changes ◽  
Successful Implementation ◽  
Global Business ◽  
Huge Impact

Research background: Entrepreneurial activity is largely affected by negative changes in the global business environment, as evidenced by the huge impact of the COVID 19 pandemic on the entrepreneurial activity of Slovak enterprises. It is here that the importance of proactive risk management is reaffirmed, which should be an integral part of the enterprise’s management and thus preventively assess possible risks and their consequences and be prepared to manage them and not just respond to a crisis situation. Purpose of the article: The purpose of the article is to point out the importance of risk management in business and project management in connection with the globalization of the business environment. Assess the readiness of Slovak enterprises to ensure the continuity of business activities in connection with negative changes in the business environment such as the COVID 19 pandemic. Methods: The article will be processed using basic scientific methods. The qualitative and quantitative aspects of the researched problem, comparison and generalization of conclusions will be processed through observation, analysis, comparison and synthesis, including several managerial methods for risk assessment and management. Findings & Value added: Successful implementation of risk management in the enterprise and within the project activities from the point of view of prevention of crisis situations in the enterprise caused by interruption of operation as well as premature termination of projects is a means to maintain continuity and competitiveness of business activities and achieve project goals in the global market.

scholarly journals Poslovna etika in Pravna načela -dejavnika uspešnosti Delovanja Organizacij

2021 ◽  
Author(s):  
Bojan Vavtar ◽  
Andrej Škraba
Keyword(s):  
Local Level ◽  
Rapid Development ◽  
Business Environment ◽  
Global Dimension ◽  
Global Market ◽  
Entrepreneurial Activity ◽  
Business Success ◽  
Global Business ◽  
Ethical Business ◽  
Legal Principles

The development of effective organizational systems is one of the most important factors of business success. Radical economic and political changes and the rapid development of the global economic environment trigger public debates in all social structures on the state of entrepreneurial culture, based on generally accepted ethical and legal principles. Ethical business problems have a global dimension and are particularly clearly reflected at the local level of operation. By joining wider social and entrepreneurial structures, Slovenia also accepts global rules of entrepreneurial activity. Growing competition in the global market requires companies to provide superior products, services and ethically and legally correct operations, which is one of the central factors of success in the global business environment. In this paper, we discuss the important relationships between ethics, respect for legal principles and the effectiveness of organizations.

scholarly journals ACTUALIZATION OF PROBLEMS AND NOVELS OF THEORETICAL AND LEGAL SEGMENTS OF CERTAIN BANKRUPTCY PROCEDURES

2020 ◽  
Vol 73 ◽  
pp. 87-94
Author(s):  
Vitaliy Kadala ◽  
◽  
Olena Guzenko ◽  
Keyword(s):  
Business Environment ◽  
Point Of View ◽  
Entrepreneurial Activity ◽  
Main Task ◽  
Doing Business ◽  
Management Measures ◽  
Legislative Regulation ◽  
Definition Of ◽  
Design Options ◽  
Legal Entities

The article is devoted to the issues of actualization of problems and novelties in the context of theoretical and legal segments of the bankruptcy procedure. The activities of economic entities are influenced by external and internal factors, but the issues of their solution remain in most cases in the discussions of politicians, scientists and representatives of the business environment. The effectiveness of legal entities has recently proved that the application of bankruptcy proceedings has intensified. However, remediation issues do not always have and receive adequate support. The consequence of these phenomena is the cessation of activities not only of small and medium-sized businesses, but also of individual large businesses. The main task of modern enterprises on the verge of bankruptcy is to develop tools and tools that allow to predict and analyze potential crises, to design options for their resolution and the appropriate information and economic base of management. Practical entrepreneurial activity proves that a number of issues remain unresolved and need more in-depth research and attention. This phenomenon indicates the modernity and relevance of the study given the realities of the functioning of legal entities. The article draws attention to the legislative regulation of bankruptcy procedures, identifies the priorities of legislative initiatives. The question of the scientific position of scientists concerning the characteristic of the conceptual categories "bankruptcy" and "remediation" is investigated. The author's vision of the essential characteristics of these categories is given, the substantiation of expediency of their adaptation in activity of domestic enterprises is given. A package of anti-crisis management measures has been developed taking into account the current realities of doing business. Proposals for improving the legislative regulation from the standpoint of reorganization procedures are presented. The development, approval and adaptation of the "Regulations on the stages of remediation" is proposed. From the author's point of view, it is expedient to include in the structure of the legislative regulator: conceptual apparatus for reorganization procedure, definition of methods and techniques of evaluation of clearly defined criteria with establishment of their normative limits, coverage of monitoring procedures.

scholarly journals The Importance of Internal and External Factors for the Selection Decision of Expatriates

2021 ◽  
pp. 113-119
Author(s):  
Ramachandran Sugavaneswaran ◽  
Ingrida Šarkiūnaitė
Keyword(s):  
Multinational Enterprise ◽  
Economic Factor ◽  
Business Environment ◽  
External Factors ◽  
Complex Nature ◽  
International Assignment ◽  
Global Business ◽  
Huge Impact ◽  
Selection Decision ◽  
Internal And External Factors

Today’s global business environment sets the platform for international employee assignments. As organisation globalise their operations, the roles and responsibilities of the Human Resource department are transformed and face the pressure of globalisation. Therefore, the selection of expatriates to fill international assignment is challenging because of the complex nature of internal and external factors of the selection decision of expatriates like Cost, Expatriate Performance, Expatriate Failure, Political factor, Legal factor, Economic factor, Socio-culture, Family requirements, and Multinational enterprise requirements (MNE), etc. The result of the studies shows the complex nature of the expatriate selection decision during the international assignment which will have a huge impact on the selection decision of expatriates and the success of the organisation on the global level market in the world of competition.

scholarly journals MANAGING RISK WITH THE USE OF COMPUTER SIMULATION

2021 ◽  
Vol 2 ◽  
pp. 17-23
Author(s):  
Monika Bučková ◽  
Miroslav Fusko ◽  
Gabriela Gabajová ◽  
Martin Gašo ◽  
Branislav Mičieta ◽  
...  
Keyword(s):  
Computer Simulation ◽  
Risk Management ◽  
Simulation Model ◽  
Action Plan ◽  
Business Environment ◽  
Global Business ◽  
Risk Management Methodology ◽  
External Risk ◽  
Managing Risk ◽  
The Impact

Internal and external risk management has become an important issue in today's global business environment, which is fraught with health, natural, political, economic and technical threats. This article deals with the design of a methodology for problem-solving and risk management in connection with computer simulation. The risk management methodology proposed by us consists of individual steps, which are summarized into three stages - risk assessment, risk analysis and risk management. The proposed computer simulation methodology consists of several steps, for example creating a parametric simulation model, designing experiments, analysis of the simulation model results or the evaluation of the simulation results. These steps are described in the article. After completing the previous steps, we describe the points of an action plan and what it must contain to avoid consequences and the impact of risks at the lowest possible level. An example of the use of computer simulation is the risk situation associated with the fluctuation of employees. In the end, the proposed methodology is supported by the results of our research and its further direction.

scholarly journals Operational Risk Management under Basel II - The Case of An Binh Joint Stock Bank

2016 ◽  
Vol 19 (4) ◽  
pp. 108-126
Author(s):  
Trung Quoc Trinh ◽  
Thuy Thu Pham
Keyword(s):  
Risk Management ◽  
Financial Services ◽  
Commercial Banks ◽  
Banking System ◽  
Operational Risk ◽  
Business Environment ◽  
Basel Ii ◽  
Global Market ◽  
Local Market ◽  
Operational Risk Management

In order to enhance commercial banks’ safety in financial services, Basel Committee on Banking Supervision issued a framework on operational risk management under Basel II. In an ever riskier business environment, it is necessary for Vietnam’s commercial banks to increase their competencies in risk management, especially in operational risk management. This is to ensure a sustainable development for banks in the local market and in the global market as well. In recent years, Vietnam’s commercial banks have developed systems for operational risk management. Therefore, the performance assessment is of importance to improve and enlarge applications on operational risk management, from perceptions, corporate’s culture, procedures to other supportive measures on the field of risk management in Vietnam’s banking system.

scholarly journals Compliance Risk Management in Polish and German Companies

2019 ◽  
Vol 11 (4) ◽  
pp. 115-145
Author(s):  
Monika Gorgoń ◽  
Konrad Raczkowski ◽  
Felix Kraft
Keyword(s):  
Risk Management ◽  
Cultural Diversity ◽  
Management System ◽  
Value Added ◽  
Point Of View ◽  
Cultural Dimensions ◽  
Compliance Management ◽  
Management Culture ◽  
Legal Standards ◽  
The Impact

Abstract Objective: This article focuses on the analysis of cultural similarities and differences important in terms of the compliance risk management in Polish and German enterprises, with the deliberate omission of Hofstede’s four cultural dimensions, in favour of the modified E. Schein’s model. This article explains the basic concept of risk management culture, the compliance risk and the essence of the compliance management system in Poland and Germany as well as the impact of cultural factors of each of the analysed countries on the development of compliance. The research objective of this paper is to present a comparative analysis of the examined countries, through the analysis of compliance management systems, as an indispensable element of risk management in an organisation, both in practical and formal terms. Methodology: This research is based on a critical review of the source literature and inference with assigned classical and fuzzy logic values as part of the culture description and risk management. Findings: The initial hypothesis is that the compliance risk management in companies in Poland and Germany has common and standardised features of the Community legal standards, which can be differently displayed from the declarative and actual point of view in Germany, due to an increase in internationalisation and intercultural relations. Value Added: This article presents the theoretical significance and functions of compliance risk management based on an analysis of applicable compliance systems and cultural systems in Poland and in Germany. Recommendations: The compliance risk management system is an essential risk management mechanism in organisations, both in formal and practical terms. It should take into account both the cultural diversity of the regions in Germany and the high cultural and ethnic homogeneity of enterprises in Poland – open, however, to cultural diversity.

scholarly journals Change in Textile and Clothing Industry

2018 ◽  
Vol 69 (01) ◽  
pp. 37-43 ◽  
Author(s):  
TUDOR LIVIU
Keyword(s):  
Change Management ◽  
New Technologies ◽  
Consumer Preferences ◽  
Small And Medium Enterprises ◽  
Business Environment ◽  
Global Market ◽  
Clothing Industry ◽  
Labor Costs ◽  
Global Business ◽  
Efficient Manner

Traditionally, Textile and Clothing Industry has been known for its incremental changes but the current global business environment creates the premises of multiple organizational disruptive changes. Change Management helps people to transition structural change in a positive and efficient manner. Small and medium enterprises in Textile and Clothing Industry face a particular set of challenges – new technologies requiring high investments, relocation arbitrage on labor costs, regional industry protectionism, volatile consumer preferences, need for new managerial skills etc. – all these demanding a rebalance of managerial focus from operational excellence to strategic and change management excellence. A Change Management Model, with associated implementation discipline and attention to global market trends, represents a necessity for current managers active in Textile and Clothing Market.

scholarly journals Impact of Global Changes of the Pandemic Crisis on Business Models of Transport Companies

2021 ◽  
Vol 92 ◽  
pp. 01058
Author(s):  
Natalia Zhuravleva ◽  
Liana Chechenova
Keyword(s):  
Business Model ◽  
Coming Out ◽  
Business Models ◽  
Value Added ◽  
Global Market ◽  
Commodity Markets ◽  
Transport Sector ◽  
Global Changes ◽  
Transport Services ◽  
The Impact

Research background: The coming period of the world economy coming out of the pandemic crisis will seriously change the situation in the cargo and passenger segment. According to the assessment of the current situation, in the global market there is a violation of the usual ties between producers and consumers, an imbalance in transport flows associated with changes in demand. At the same time, in a crisis, rail transport is the main tool, since a significant amount of anti-epidemic protective equipment from China was transported by trains. It is clear that in the near future the dynamics of the market depends, first of all, on the further development of events and measures of state support for industries and businesses. Purpose of the article: The purpose of this research is to score the factors of the post-crisis state of transport sector: alterations in the gravity of commodity markets, modifications of valuable preferences assessment of the shipper and the passenger, that change the business model of transport companies. Methods: Standard methods of scientific research are used: theoretical and experimental; complex methods of analysis and evaluation of business models: a complex scheme for developing a business model, a canvas and a conceptual scheme of a business model; methods of qualitative data analysis. Findings & Value added: Factors changing the transport business model are systematized. The research estimates a change probability in the gravity of commodity markets towards Asian countries, the consequences of the influence of digital technology on the efficiency of the transport business and the shift in the value of transport services in the line of high speeds. It shows the impact of the post-pandemic economy, which has formed new habits, passenger behavior on passenger companies’ operations. The research justified crisis effects resulting in the deterioration of the competition in the transport markets.

scholarly journals Globalization and Bankruptcy of SMEs in Slovakia

2021 ◽  
Vol 92 ◽  
pp. 07015
Author(s):  
Jaroslav Dado ◽  
Lenka Hvolkova ◽  
Janka Taborecka
Keyword(s):  
Value Added ◽  
Structured Interview ◽  
Business Environment ◽  
Global Market ◽  
Market Potential ◽  
Negative Consequences ◽  
Negative Effects ◽  
Market Opportunities ◽  
Evidence Of Impact ◽  
The Impact

Research background: Globalization - the process of increasing social, cultural, political, and economic interdependence - has resulted in several changes in business environment. Global market opportunities and threats are major effects of globalization; they refer to the increases in market potential, trade and investment potential and resource accessibility. Global market threats refer to the increases in the number and level of competition, and the level of uncertainty. Global competitors can have the impact on bankruptcy of local SMEs in less developed or smaller countries. Are globalization in economics and company bankruptcy related? In the past, the cause of bankruptcy was mainly in the company itself. The development of globalization has brought a number of positive as well as a number of negative consequences for several areas of society. Is one of the negative effects of globalization the bankruptcy of companies? Purpose of the article: The paper presents a classification of external and internal causes of bankruptcy and indicators of the threat of company bankruptcy. The paper also focuses on the results of the research analysis about the causes of small and medium-sized enterprises mortality in Slovakia and the impact of globalization factors as the causes of their bankruptcy. The analysis of bankruptcies is oriented on the research of the causes of small and medium-sized enterprises mortality in Slovakia and the influence of globalization factors as the causality of their bankruptcy. Methods: The research sample presents structured interview with 16 SMEs´ owners. They identified more aspects of globalization impact to Slovak SMEs bankruptcy. Findings & Value added: The results of research indicate that there is an evidence of impact of globalization on the bankruptcy of SMEs in Slovakia, but there are some differences among various industries.

scholarly journals Predicting The Role of Entrepreneur Strategies on Improving Cognitive Positioning in Global Business

2020 ◽  
Vol 9 (4) ◽  
pp. 92
Author(s):  
Diyar A. Mustafa Khoshnaw ◽  
Ari A. Hameed
Keyword(s):  
Field Testing ◽  
Business Environment ◽  
Global Market ◽  
Global Business ◽  
Rapid Changes ◽  
Intellectual Assets ◽  
The Subject ◽  
Current Area ◽  
Traditional Competition

The current area characterized with strong competition, the changing pattern of the business, move the value from physicals to knowledges and information, and the shift of the benefits from traditional competition cognitive and intellectual assets, most of the organizations are looking for new methods to achieve a state of leadership and uniqueness in the global market in order to develop the competition.The current study aimed to identify the role of Entrepreneur Strategies on improving cognitive positioning in the global business area. Moreover, field testing of the views of leaders as a sample of foreign organization operating in Erbil - Iraq, where these dimensions vary in their effects towards the competitive position in global business sector, because of rapid changes in the global business environment as a result of increased competition, as well as the variation of the capacity of the organizations in the adoption of competitive as one of the modern models in the conduct of organizations. This is why the subject of entrepreneur strategies and cognitive positioning in global business became under the attention of many researchers and scholars being of contemporary themes with impact on the performance of organizations in pursuit of excellence on others, prompting the researcher to choose these subjects to be his field for study.

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