The importance of social networks for the SME’s innovation potential in Industry 4.0

Social network usage is a prerequisite for the functioning of companies and their competitiveness. The level, focus of their usage, and link with the company process are important. This research focuses on SMEs, how they use social networks, and how this affects their innovation potential. The study aims to determine the importance of social networks for SME’s competitiveness and long-term stability. To achieve this goal, 359 European SMEs were studied (2017–2019), two research questions and seven hypotheses were developed. Pearson’s correlation and stepwise regression were used, and the obtained results were verified by experimental testing. The research results showed that companies using social media as a main component of their business, are active at using modern technologies and are declaring the importance of social networks to develop innovation potential. Fastness and reliability of communication are crucial for business operations in the company. Social networks offer many opportunities and connections between strategic planning, controlling management, and performance level. All SMEs mostly use Facebook, and this does not depend on size, age or industry. The research results lead to the understanding that social networks and controlling-oriented management support SME business activities and their innovation potential and long-term stability in a hyper-competitive environment. AcknowledgmentThe paper has been prepared within the project “Risk Management in Industry 4.0” supported by the Specific University Research Funds of the University of Finance and Administration, Estonská 500, 101 00 Prague 10, Czech Republic. Funder ID: 04274644. 3. Award number: 7427/2019/02 IGA VŠFS.

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Auditing and controlling as a tool for sme marketing risk management

Marketing and Management of Innovations ◽

10.21272/mmi.2021.1-17 ◽

2021 ◽

pp. 225-235

Author(s):

Vaclav Kupec ◽

Premysl Písar

Keyword(s):

Risk Management ◽

Corporate Culture ◽

Experimental Testing ◽

The European Union ◽

Term Stability ◽

Long Term Stability ◽

Business Environments ◽

Marketing Risk ◽

The Individual

The current hyper-competitive environment, rapid marketing tools, and modern techniques provide many opportunities for small and medium-sized businesses. Such opportunities could bring much in the way of rewards both for the individual companies and the wider economy. However, there are many threats associated with these business environments which cannot be overlooked. Small and medium-sized businesses are a significant stabilizing economic power within the European Union. Therefore, it is not surprising that small and medium-sized businesses competitiveness and their long-term stability are vital factors for European cohesion and development. This research aims to analyze risk management within small and medium-sized businesses, identify critical risk factors, and develop risk management, which could be applied to small and medium-sized businesses. The authors analyzed risk management's consequences and explained the variables as follows: ROA, Auditing, Controlling Management, Marketing, and Corporate Culture. Based on the research findings, the goal was to increase their interaction effectiveness, focusing on small and medium-sized businesses long-term stability and competitiveness. For achieving these aims, the paper provides two research questions and designs three hypotheses. This research was conducted from 2017 to 2020 on sample n = 432 EU small and medium-sized businesses. The reached data were analyzed by statistical method and experimental «in practice» testing. Based on the result and its experimental testing, a marketing risk management model was designed, tested, and verified using practical methods. This model could be used for the identification and avoidance of potential risks when developing a marketing strategy. The findings reached should be used to advance research and similarly for practical use within the business sphere.

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Creep Parameter Inversion and Long-Term Stability Analysis of Tunnel Based on GP-DE Intelligent Algorithm

Advances in Materials Science and Engineering ◽

10.1155/2021/3769474 ◽

2021 ◽

Vol 2021 ◽

pp. 1-14

Author(s):

Fengrui Zhang ◽

Annan Jiang ◽

Xinping Guo ◽

Xiurong Yang

Keyword(s):

Stability Analysis ◽

Differential Evolution ◽

Differential Evolution Algorithm ◽

Inversion Method ◽

Research Results ◽

Term Stability ◽

Long Term Stability ◽

Gauss Process ◽

The Stability

Aiming at the creep problem of Banshi Tunnel in Jilin province, the creep laws of rock are analyzed by the creep test, and the Cvsic model describing the creep characteristics of the tunnel is established. To obtain the creep parameters accurately, considering the advantages of Gauss process and differential evolution algorithm, coupling the two methods, a Gauss process-differential evolution intelligent inversion method is proposed. According to on-site monitoring data, the the creep parameters of the tunnel are accurately inverted. On this basis, the stability analysis of the tunnel and the selection of a reasonable construction plan are carried out. The research results show that to ensure the stability of the tunnel, the construction scheme of initial lining + pipe shed + advanced grouting anchor rod should be adopted. The research results have guiding significance for the long-term stability evaluation of the tunnel.

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