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SENIOR ENTREPRENEURSHIP IN CENTRAL AND EASTERN EUROPEAN COUNTRIES: GEM EVIDENCES

Author(s): Anna Pilková,Ján Rehák,Zuzana Jančovičová / Language(s): English Publication Year: 0

The paper examines level of the senior entrepreneurial activity at Central and Eastern European countries (CEE) based on regional comparative analysis of the senior inclusivity indices in Europe, USA and CEE countries and senior and youth inclusivity indices in Europe, USA and CEE countries both at early entrepreneurship stage entrepreneurial activity (TEA) and at stage of established business (EstBu). Further, based on Pearson´s correlation matrix, we analysed at which extent differences exist at the key drivers of the TEA of seniors in CEE countries and Europe. We exploit the Global Entrepreneurship Monitor (GEM) datasets for 2011-2014. The results show on one side much lower senior entrepreneurial activities in both stages of entrepreneurial process at CEE countries, and on the other side much higher early stage entrepreneurial activity of youth in CEE countries in comparison to Europa and USA. We also found out that there are no significant differences between key drivers of senior´s TEA at CEE countries and Europe.

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MANAGEMENT MECHANISM FOR IMPLEMENTATION OF « QUICK RESPONSE MANUFACTURING» CONCEPT IN THE ENTERPRISE

Author(s): Viktor Popov,Galina Ostapenko / Language(s): English Publication Year: 0

The article presents the results of research in the field of change management approaches for production systems. The changes in the effect of resource and process approaches in the management of production systems as they evolve are defined; emphasized five types of production systems and their main features are characterized. The authors present a way of developing the mechanism of organizational change management, which can be applied to improve production systems through the use of the modern concept of "Quick Response Manufacturing (QRM)”. Practical examples of QRM implementation mechanism in Ural region`s manufacturing enterprises producing in small quantities are shown. The structural model and clear logic of implementation process of QRM concept could help industrial leaders and specialists in majority of sectors of the Russian economy.

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ENTREPRENEURSHIP AND REGIONAL DEVELOPMENT IN RUSSIA: FACTORS AND TRENDS

Author(s): Irina Prosvirina,Galina Ostapenko / Language(s): English Publication Year: 0

In this article the authors examine socio-economic development of Russian regions in conjunction with a large number of factors. The principle hypothesis of the study is the existence of the connection between the level of socio-economic development of regions and the level of entrepreneurial activity. This hypothesis is based on systematization and analysis of published studies on the nature of entrepreneurship and the factors affecting it. In order to test the hypothesis, the correlation-regression models were used to process the large amount of statistical data on the regional development. The findings revealed that there is a negative correlation between the growth of the Russian regions and the level of entrepreneurial activity. The authors made assumptions about the reasons of this relationship and discussed the conditions enhancing entrepreneurial activity in Russian economy. The findings might be relevant in the context of economic recession and numerous attempts of the government to increase the level of entrepreneurial activity.

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NEW WAYS TO INNOVATION FINANCING FROM PUBLIC RESOURCES IN THE CZECH REPUBLIC

Author(s): Marcela Příhodová,Miroslav Špaček / Language(s): English Publication Year: 0

The paper deals with new approaches to innovation financing in the Czech Republic. Inasmuch SMEs are considered the key driving force of the Czech economy the government places emphasis on the development of financial instruments which would ensure an ongoing financial support of innovation. The Ministry of Industry of the Czech Republic followed up on the Europe 2020's strategy in terms of "mobilising the financial instruments" and executed several programmes aimed at innovative financing for SMEs. These programmes differ in their nature, such as subordinate bank loans provided by the state owned banks, goal-directed subsidies provided through the government institutions. Moreover, the Czech government arranges financial support for institutions which is provided through the EU and national budget. The paper evaluates pros and cons of various types of government financial subsidies with respect to payback periods.

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IMPACT OF THE INNOVATIONS ON REGIONAL GROWTH OVER TIME: DYNAMIC ECONOMETRIC MODELING

Author(s): Svetlana Rastvortseva / Language(s): English Publication Year: 0

Technological change leads to the rapid growth of the knowledge-based economy and service industries, allowing those regions to increase their total factor productivity and to become more competitive in the global economy. Innovations are key determinant of regional development but their impact becomes noticeable often over time. For regional policy it is important to understand in what period of time the results of innovative projects can affect on the social and economic indicators. The role played by the innovations in economic growth was recognized and introduced into the neo-classical approach and R&D theories. We used a pooled regression model for panel data to look at the affects of innovations on regional growth over time. The empirical analysis based on a large sample of Russian regions from 2002 to 2014 supports the hypothesis that innovation can impact on economic development in just a few years. The aim of the paper is to reflect the nature of innovation influence on economic growth in the region taking into account time factor. It was determined that influence of patent activity on regional economic growth is positive and statistically significant with lagged value of two years, a share of highly educated employees has positive influence on the rates of economic growth after three years. The findings of the research are useful for policy applications and policy-makers by providing them with a better understanding of the impact of innovation factors of regional growth and length of time needed for the general development.

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SUSTAINABLY RESPONSIBLE LEADERSHIP AND INNOVATION

Author(s): Mathias Schüz / Language(s): English Publication Year: 0

Innovation is more than invention and creativity. Most importantly, it should refer to responsible leadership since it creates wealth that might serve parts but not the whole economic, social and ecological environments. Moreover, responsible leadership is linked to the dimensions of sustainable corporate responsibility. It manifests itself in the three main types of leaders: the doer, the coordinator, and the visionary. Each type has different capabilities such as “managerial skills” of the “Knowing-How”, “interpersonal skills” of the “Knowing-Whom”, and the “reflective skills” of the “Knowing-Why”. Ideally, a responsible leader expresses all types, but can also cooperate with others complementing his/ her deficiencies in the one or the other capabilities. Thus, responsible leadership comprises technical skills (cognitive intelligence: IQ); ethical competencies (emotional intelligence: EQ); and esthetical insights (spiritual intelligence: SQ). An empirical pre-study underscores the importance of all the three aspects of responsible leadership. However, it verified them only by surveying 41 leaders and their importance for successfully taking steps of their career ladder. Other empirical studies should verify the importance of the complementing capabilities of sustainably responsible leadership.

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INCREMENTAL INNOVATION, PERFORMANCE AND FINANCING AS KEY ELEMENTS IN LOGISTIC CONTROL OF CONSTRUCTION COMPANY

Author(s): Adam Sorokač,Branislav Mišota,Eduard Hyránek / Language(s): English Publication Year: 0

Currently, there is constant pressure to increase efficiency of company in construction sector, as in other industry. One of lesser-used methods for increasing efficiency in the construction companies is control of logistics with respect to its performance. These methods can be identifying by incremental innovation with an interdisciplinary approach, which uses correlation of incremental innovation and efficiency of logistics via gradual introduction of information and communication technologies (ICT). This is meant, increasing efficiency of traceability of material flow (logistics information system) at construction. Incremental innovation will be identifying by formulating innovative model with a central model Stage- Gate® Xpress and described the methodology to entry additional methodologies from various disciplines of the construction. Modular application was designed with initialization innovation and next increment based on outcome of 3I model. The application is in this paper verified by simulation model of one technological operation. This process operation was simulated before and after upgrade. Application suitability has been verified by an expert evaluation. Application was designed by means of industrial automation and technology with contactless reading of information - Radio Frequency Identification (RFID). We point to connection financial effects in the logistics segment by incremental innovation

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CROWDFUNDING AS A CAPITAL SOURCE FOR REAL ESTATE PROJECTS

Author(s): Paulína Srovnalíková,Donatas Ditkus / Language(s): English Publication Year: 0

This paper aims to present the conception of crowdfunding and its application to real estate projects. Real state crowdfunding is still in its infancy therefore is very important to understand it in order to properly prepare for possible opportunities and threats. Results of the study are obtained through qualitative research methods, such as content analysis, open and axial coding and sentiment analysis of scientific literature also cases of most promising crowdfunding campaigns were studied. Findings of this study provide a deeper understanding of the abilities and limitations of the crowdfunding usage as an alternative capital source for real estate projects. The Authors have summarized that crowdfunding might became significant and attractive way to invest in real estate at the same time providing with capital new real estate projects..

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MOTIVATION TO START-UP A BUSINESS IN RELATIONSHIP TO INNOVATIONS: DOES “GOOD” MOTIVATION REALLY MATTER?

Author(s): Jarmila Šebestová,Zuzana Palová / Language(s): English Publication Year: 0

A motivation to start up could affect all near future of the business unit. This situation is described on case of Moravian-Silesian Region. These results are based on field survey study between 215 entrepreneurs in the Moravian-Silesian region in 2015, where we found a significant relationship between start up motivation and innovations, then affected by company location. The paper argues that level of innovative behaviour is higher in SMEs which have owner-managers who were pull motivated in start-up and lower in those which have owner managers who are not satisfied with local entrepreneurial conditions. Product innovations are closely connected with opportunity seeking motive to start up (52%). Some start-up entrepreneurs only begin because they would otherwise remain unemployed (5%). In final part of the paper, factor analysis is made to find out main factors, which lead to innovations as stress on size, willingness to participate in education process, strategic thinking or start-up motivation.

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DRIVERS FOR CORPORATE SUSTAINBILITY: AN EXAMINATION OF POLISH FIRMS

Author(s): Maria Urbaniec / Language(s): English Publication Year: 0

Sustainable development is widely perceived as a key trend of global environmental policy and socio-economic development. From the microeconomic point of view, the concept of sustainable business development assumes that the company should strive to achieve broad benefits for all stakeholders, local communities and the environment, and not just care about its economic interests. Many companies are already undertaking a number of different actions associated with sustainable development, in order to promote greater environmental and social responsibility. There are a number of factors that influence the environmental and social responsibility of enterprises. This paper aims to examine the relevant influence factors for the implementation of corporate social responsibility in Polish companies. The research question is: what are the principal drivers for the implementation of sustainable development in Polish companies? The paper addresses key implications for corporate managers and other affected decision-makers. It concludes that corporate social responsibility is becoming increasingly important as an instrument for the implementation of sustainable development in Polish companies and contributes to environmental and social changes.

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SOCIO-ECONOMIC ASPECTS OF INDUSTRY 4.0

Author(s): Jiří Vacek / Language(s): English Publication Year: 0

Recently, the number of publications about Industry 4.0 has been steeply increasing. However, the concept of “Industry 4.0” is primarily being explored from a technical point of view – robotics, Internet of things, big data, smart objects, smart factories. There has been very little inquiry into the question of what it means for people and the society as a whole. Increasing digitisation will not only have an enormous impact on machines, factories and sectors, but on societies, economics and management as well. That is why we must look more closely at these aspects. Where are the risks – but also where are the opportunities for social innovation and progress? Industry 4.0 still has not entered the mainstream academic research, it is much more frequently treated in reports of leading consultancies as McKinsey, Deloitte, Accenture, BCG, World Bank and recently it became one of the main topics of discussion at the WEF 2016. However, as it can profoundly affect the future of jobs, management, education, and social systems, academic research in related disciplines should not stay aside and supplement the activities of technically oriented colleagues

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FACTORS SUPPORTING GROWTH OF ADDED VALUE, PERFORMANCE AND COMPETITIVNESS OF SMES AND SELECTED EU COUNTRIES

Author(s): Marek Vochozka,Mariana Psárska / Language(s): English Publication Year: 0

Added value, as a default quantitative and qualitative indicator of performance, is one of themost monitored variables in all SMEs. It describes not only the growth of the value of goodsand services in all phases of production from the microeconomic point of view but also thegrowth of value in all phases of production from the macroeconomic point of view (where it isexpressed in the form of GDP).The objective of this paper is to find key factors which support growth of added value and itspossible changes in selected countries in the context of potential positive development of theadded value. The pattern consists of data about SMEs interested in production in the fields withthe highest added value in the country. The methodology includes an economic analysis of thegiven data. The data make it possible to obtain detailed information about creation of addedvalue. The results are important because they can be potentially applied in practice, i.e. in theCzech Republic, Slovak Republic and in other EU countries.Added value, as a default quantitative and qualitative indicator of performance, is one of the most monitored variables in all SMEs. It describes not only the growth of the value of goods and services in all phases of production from the microeconomic point of view but also the growth of value in all phases of production from the macroeconomic point of view (where it is expressed in the form of GDP).The objective of this paper is to find key factors which support growth of added value and its possible changes in selected countries in the context of potential positive development of the added value. The pattern consists of data about SMEs interested in production in the fields with the highest added value in the country. The methodology includes an economic analysis of the given data. The data make it possible to obtain detailed information about creation of added value. The results are important because they can be potentially applied in practice, i.e. in the Czech Republic, Slovak Republic and in other EU countries.

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MIT ENTREPRENEURSHIP ECOSYSTEM WITH FOCUS ON START-UP DEVELOPMENT

Author(s): Marián Zajko / Language(s): English Publication Year: 0

MIT entrepreneurship has become a renowned term due to the impressive results of MIT alumniand students in innovation and entrepreneurship. It is an outcome of specific university cultureof excellent research and pedagogy but also close collaboration with industry andentrepreneurship among MIT students and teachers within the unique MIT entrepreneurshipecosystem. The intention of this paper is to show the positive impact of leading entrepreneurialuniversity (MIT) on its environment in relation to the key driver of this success - itsentrepreneurship ecosystem. Particular attention will be devoted to the framework „DisciplinedEntrepreneurship“ for development of innovation-driven start-ups playing a substantial role intheir development and survival. This may serve as an inspiration and impulse for leading Slovakand Czech universities with ambition to adopt a more entrepreneurial model of operation.Key words: Massachussetts Institute of Technology, entrepreneurship education,entrepreneurship ecosystem, innovation-driven start-up, Disciplined Entrepreneurship.JEL Code: M13, O31IntroductionThere is an extensive literature on the entrepreneurship/entreprenMIT entrepreneurship has become a renowned term due to the impressive results of MIT alumni and students in innovation and entrepreneurship. It is an outcome of specific university culture of excellent research and pedagogy but also close collaboration with industry and entrepreneurship among MIT students and teachers within the unique MIT entrepreneurship ecosystem. The intention of this paper is to show the positive impact of leading entrepreneurial university (MIT) on its environment in relation to the key driver of this success - its entrepreneurship ecosystem. Particular attention will be devoted to the framework „Disciplined Entrepreneurship“ for development of innovation-driven start-ups playing a substantial role in their development and survival. This may serve as an inspiration and impulse for leading Slovak and Czech universities with ambition to adopt a more entrepreneurial model of operation.

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EMPLOYMENT OF PPP AS AN INNOVATIVE APPROACH TO IMPLEMENTATION OF TRANSPORT INFRASTRUCTURE PROJECTS IN THE CZECH REPUBLIC

Author(s): Barbora Antonová,Tomáš Kučera,Klára Lustigová,Jaroslava Hyršlová,Ivo Drahotský / Language(s): English Publication Year: 0

The member states of the European Union (EU) and EU institutions have increasingly used public-private partnerships (PPP) to accelerate infrastructure development. Based on the experience from other countries, PPP is considered an effective means to achieve a higher appreciation of funds invested in various types of projects. The experience of other countries confirms the advantages of using PPP for operational efficiency, innovative technological and management skills, and the more active involvement of private players in public services. This paper summarizes the trends in the use of PPP in projects within the EU and discusses options for implementation of PPP projects in the Czech Republic.

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THE SCIENTIFIC AND EDUCATIONAL POTENTIAL OF THE INTELLECTUAL PROVISION OF ENTREPRENEURIAL INNOVATIVE DEVELOPMENT

Author(s): Evgeny Egorov,Tatiana Lebedeva / Language(s): English Publication Year: 0

This article presents the concept of the intellectual provision of innovative activity within entrepreneurship. The intellectual provision includes the organization and self-organization of the continuous information and knowledge in the "education-science-entrepreneurship" system. Intellectual entrepreneurship is considered the result of the integration of science and entrepreneurship and the transfer channel of knowledge between them. The aim of the experimental study is to validate the developed theoretical positions in the field of intellectual provision of the entrepreneurial activity development. The main objectives are the creation of the complex of entrepreneurship development in the framework of training courses, identify a set of characteristics of the intellectual entrepreneur and their assessment, to develop the optimal model of the course that prepares entrepreneurs for today’s challenges.

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MEASUREMENT EFFICIENCY OF SOCIAL INNOVATION

Author(s): Veronika Chobotová / Language(s): English Publication Year: 0

EU policy is aimed at social enterprises, which can at the appropriate time respond to national social problems. Social enterprise and innovation are not the domain of a single entity, but are a result of the continuous interaction between the various elements of the national innovation system. Social innovation and entrepreneurship are processes designed to resolve societal problems with innovative ideas and methods. These processes often occur between the private and public sector and civil society. Measuring social innovation activities and their effect represent one of the main indicators for the promotion of social innovation. This requires the utilisation of quantitative and qualitative measurement instruments that include the social return on investment indices. Measurements focus on the organisations’ achieved results. The results in turn, prompt community organizations to review their current situation and assist to detect errors and shortcomings. The aim of this paper is to assess the current state of social innovation in the Czech Republic.

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VIRTUAL TEAM AS A PROGRESSIVE FORM OF MUTUAL CO-OPERATION IN MANAGERIAL THEORY AND PRACTISE

Author(s): Eva Kašparová,Jan Mareš / Language(s): English Publication Year: 0

With the advent of globalization, virtual teams are now commonplace within the work environment. Despite this, many areas still lack sufficient access to Information and Communication Technology. This study uses a structured questionnaire to acquire respondents’ data and feedback. The study is based on the virtual team participant´s feedback and indicates that problems originate from the Course Management System as well as the absence of sufficient tools, methods for mutual communication and collaboration, previous practice to use the tools and managerial skills to foster virtual teamwork.

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IMPLEMENTATION OF INNOVATIVE PRACTICES IN CORPORATE SOCIAL RESPONSIBILITY OF CZECH COMPANIES

Author(s): Klára Kašparová / Language(s): English Publication Year: 0

Corporate Social responsibility (CSR) reporting can be considered as process innovation. It is a way to identify opportunities for process and performance improvements company-wide. These improvements ensure its competitive advantage. However, it is valid only when content of the report respects the principle of materiality and credibility is assured. One way to determine materiality is the concern expressed directly from the stakeholders. Therefore, the research objective is to determine whether Czech companies support dialogue with stakeholders in their CSR reports. The paper uses conceptual content analysis. Results indicate that companies include in their CSR reports information on contact details, but impersonal passive forms prevail.

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THE SIGNIFICANCE OF KNOWLEDGE IN BUSINESS INNOVATION IN SMES IN SOUTH MORAVIA

Author(s): Petra Koudelková / Language(s): English Publication Year: 0

This article seeks to answer whether or not entrepreneurs find knowledge in innovation management important. Education brings valuable knowledge and knowledge represents an important factor in the field of business. Primary research is based on a questionnaire distributed to businesspersons. This contribution aims to determine whether theoretical knowledge in innovation management is a significant factor to create successful innovations. It attempts to determine whether business practitioners with higher education generate more successful innovation than their colleagues with lower education.

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THE RELIGIOUS ROOTS OF INNOVATIVE THINKING

Author(s): Dušan Kučera / Language(s): English Publication Year: 0

The article is dedicated to the religious roots of innovative thinking. The paper presents the basic concepts of the phenomenon of religious thought and its outlet in the base of the religious systems of Judaism, Catholicism, Islam, Protestantism, Buddhism, Hinduism, Taoism, Shinto and Confucianism, which has significance in certain lines of business and management. Religious thinking naturally affects the anthropological basis for the managerial position and the relationship of spirituality to the Western concept of science. Finally, it is necessary to deal with the concept of capitalism, spirit of capitalism, concept of the invisible hand in economics and contemporary religious features of capitalism itself, which in today's economic world plays an important role.

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