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Developing Entrepreneurial Skills under the Current Conditions of the Educational System

Author(s): Filip Ježek,Zdeněk Vavrečka / Language(s): English Publication Year: 0

Purpose: The key role of the educational system is to prepare individuals for their future work life. Sooner or later the pupils or students have to choose between employment and running their own business. The aim of the paper is to provide an insight into how the current primary educational system participates in developing the entrepreneurial skills which are needed, especially under conditions of regional disparities and unemployment problems. Design/methodology/approach: The research is based on an analysis of primary school documents and questioning pupils based on standard psychometrics. The most indispensable part of the research is the analysis of the relationship between the competence and skills declared in the school documentation to be developed and the true personal characteristics of the pupils. The sample contains pupils of the final classes in the selected primary schools.Findings: The research leads to the conclusion that the current primary educational system seems to be unsatisfactory with respect to developing the entrepreneurial skills of the individuals.Research/practical implications: The paper includes implications for school management. Developing entrepreneurial skills may be enhanced through adjusting teaching methods and the curriculum.Originality/value: The paper contains the specific research which contributes to the discussion of how primary schools should be adjusted to the requirements and options emanated from the real world.

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Research and Development Performance Management and Managerial Tools

Author(s): Marie Kubáňková,Jaroslava Hyršlová,Jan Nedělník / Language(s): English Publication Year: 0

Purpose: Economic competitiveness is becoming increasingly linked to rapid technological changes. New technologies are crucial for long term competitive advantages. R&D is a key strategic issue that must be aligned with the corporate strategy, therefore there have been considerable changes in the way that R&D has been managed over recent years and measuring R&D performance has become a key issue that has been extensively debated in innovation and R&D management literature. This paper provides current and up to date knowledge in the field of R&D management and strategic management accounting.Design/methodology/approach: The purpose of the paper is to identify management tools used in R&D performance management in a selected sample of companies, and to compare them with the findings in the literature and identify the practical impact of the R&D outputs. Therefore, a questionnaire survey will be used to demonstrate this. SMEs members of Association of Research Organizations (AVO) were selected to answer research questions. Telephone interviews were provided by the agency STEM/MARKT. The data was then entered in electronic form into the program ENGRAFES 1.0 and statistically processed. Findings: The survey shows that the selected sample of the Czech companies uses similar indicators comparable with indicators of foreign companies for managing the performance of research. The most problematic areas of R&D management are clearly indicated as the consistency of the long-term targets of R&D projects with the strategic and financial objectives of the company, and improperly set types of R&D management, poor organizational structure, and a division of competences.Research/practical implications: R&D generates knowledge that is crucial for the long-term competitiveness of the companies. Thus, huge financial amounts are invested in R&D activities. The R&D performance management and managerial tools have become a challenge for both managers and the research community. The paper focuses on the management of R&D. This paper also responds to the challenges of strategic management accounting, and its minor impact on the practice and the lack of literature on the use of specific tools.Originality/value: The added value of this paper is to extend the existing knowledge concerning the strategic management accounting tools used in the management of R&D performance in selected Czech companies, and how it compares with foreign samples.

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Employment of Foreigners in Poland from the Point of View of Entrepreneurs - Opole Voivodeship Study

Author(s): Sabina Kubiciel-Lodzińska / Language(s): English Publication Year: 0

Purpose: The subject of the studies presented in the article was an assessment of the demand for employment of foreigners in companies based in Opole Voivodship. They aim was to establish the reasons which have made, or could make, them employ foreign workforce; to obtain information on the benefits and difficulties connected with using foreign workforce. They are focused on getting a regional preferences map of employers when it comes to employment of foreigners.Design/methodology/approach: The study involved managers, i.e. owners, directors, managers or people responsible for personnel policy in enterprise. Combining qualitative and quantitative research methods were used. In the research was used a structured questionnaire interview. The study included 263 employers and were carried out in late 2014 and in early 2015.Findings: It was established that the lack of native workers is the main reason why foreign workforce is more and more widely used. The most valuable advantage obtained thanks to employing a foreigner is acquisition of a worker who holds skills that are in demand. Most difficulties by hiring foreigner have the entrepreneurs with complicated law regulations. Research/practical implications: The research showed the need for developing services connected with job placement of foreign workforce. This can be acknowledged to be a chance for the appearance of a demand for specialist services rendered to immigrants, such as translation of documents, accommodation agency, tax agency. Wage earning immigration can thus become a significant factor stimulating development of entrepreneurship.Originality/value: The studies proved that there exist differences in determiners, barriers and advantages which come from employment of foreigners depending on the size of the company. This is a significant methodological establishment in the context of realization of studies of migration in enterprises, which points to the necessity of introducing a division of the examined firms according to the number of the employed workers.

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The Value Orientation of the Czech Companies in the Frame of Sustainable Corporate Responsibility

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

Purpose: The authors are interested in the relations between the value orientation and performance of the Czech companies in the frame of the sustainable corporate responsibility (SCR) concept. The purpose of study is to analyse the current perception of companies and their managers/owners in the environment of transformational economies in CEE influenced by neoliberal concept of business mainly for profit. In this paper, the results of pilot research will be described. Design/methodology/approach: The methodology of research was adopted from the research ny Torugsa et al (2012), we extended their methodology with new questions about ethical values. We did the survey from the January till March 2017, in specific cases the interviews were done. The pilot research sample is 53 questionnaires addressed to the top management of selected companies we use of quota system; the respondents were asked randomly. Statistical analysis was conducted based on crosstabs and Chi square test. Results were interpreted in the cultural context and environment of the transformation economy - the Czech Republic. Findings: The pilot research findings identify the value position of the selected Czech companies regarding SCR. The philosophy of SCR is based on the holistic responsibility of management including the economic, environmental and social area of company. The findings reveal especially the personal ethical position of management based on a developed specific value orientation. As an important accent of management is the responsibility for future generations. The research reflects also the intensity and time scope of selected measures. The questionnaire will be modified according the results to the feedback of respondents with personal clarifications. Research/practical implications: Implications of research are based on the identification of value preferences which are important for practical decision making and managerial measures in specific company activities. The personal value orientation of managers has practical implication in master and executive education or consulting, because the identified value preferences are surpassing the classical economic rational and speculative frame of thinking reflecting actually the empiric situation. For this new value basis will be necessary to develop new educational approach for management development. The results of pilot research confirm the starting idea and can be enlarged for the next and significant research sample. Originality/value: The research is unique in the Czech Republic because of the SCR orientation as a deep shift from CSR to SCR concept in company management. The authors used three dimensional approaches: declared values combining economic, environmental, social and future oriented sustainability concept and performance. Originality of the study is based on identification and description of philosophical assumption of managerial thinking as (in comparison with neoliberal economy) a new basis for decision process of management in companies. The pilot research offers fundamental sample set making possible to deduce the consequences for one-sided profit orientation.

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Corporate Sustainability Reporting

Author(s): Vilém Kunz,Štěpánka Hronová / Language(s): English Publication Year: 0

Purpose: Close monitoring of sustainable corporate behavior by companies’ existing or potential customers and other stakeholders represents a current trend. Therefore, sustainability reporting is gaining on its importance. Topicality of the issue brings the authors to the objectives of fostering the depths of knowledge and building awareness of corporate sustainability and its reporting in the Czech Republic.Design/methodology/approach: The paper analyses primary data about sustainability reporting and reveals results of a pilot sample-based survey conducted via self-administered electronic questionnaires completed and returned by 46 respondents (micro businesses, SMEs, large businesses in CR) as a requisite initial step to a larger scale research within the project called Sustainable Corporate Responsibility - IP 304026. For the given variables, graphical representations are worked out and calculations of medians, averages and modus figures are provided as well as the Chi-square statistic. Finally, as a method for data analysis of the 2017 collection and the 2016 figures of similarly sized samples, comparative analysis is used. Findings: The paper brings and examines findings on the following areas: the extent to which a company reveals information on its CSR activities to its external and internal stakeholders; forms of sustainability reporting (within annual general reports, online press releases, or ad hoc CSR/ sustainability reports); membership in non-governmental organizations’ (NGOs) networks and platforms, and/or close collaboration with non-profit organizations focused on CSR/ sustainability.Research/practical implications: Newly, based on the mandatory EU directive, social and environmental activities of companies will have to be reported by companies with over 500 employees starting 2017. As a result of this research more companies not legally obliged to report might start to do so in order to improve their public image as well as to boost the competitive edge of their business entity. Many respondents from micro or small businesses actually got acquainted with the concept thanks to the research. The authors further suggest to research the field of particular reporting standards used. Internationalizing the research may also be possible.Originality/value: This pilot research contributes to the visibility of transparent corporate communication focusing on the information about ecological and social repercussions caused by economic activities of a company as well as releases about the impacts’ prevention and community support. The paper brings news about the reporting duty and up-to-date standards.

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Causal Alternate Pathways for High Performance. A Study of University Spin-offs from Poland

Author(s): Anna Kwiotkowska / Language(s): English Publication Year: 0

Purpose: The purpose of this paper is to explore causal alternate pathways for high performance among university spin-offs from Poland.Design/methodology/approach: The traditional configuration approach suggests using the strategy, structure, and environment domains to identify configurations. In response to calls to improve causal linkages, and drawing on work on start-ups’ configurations, entrepreneurial orientation is used with these domains to identify configurations. Fuzzy-set qualitative comparative analysis (fsQCA) is used to analyze data collected via questionnaires from 53 university spin-offs from Poland. Findings: The study of the configuration of attributes was done using Boolean algebra - a notation system enabling the algebraic processing of logic statements. This allowed the assessment and selection of five alternative combinations of elements making up the organizational configurations of spin-off companies, leading to the high performance of the companies studied in Polish conditions. In all five identified configurations, firms adopt high external integration, and employ development strategies, exhibit high internal integration, or do not operate in a highly competitive industry. These firms carve out niches, and enjoy strong linkages with supply chain partners. Research/practical implications: The degree of development of academic entrepreneurship, as seen from the perspective of spin-off companies, is negligible in Poland. What is more, the understanding of so complex phenomenon that spin-off companies are, remains limited and, as such, requires in-depth research. It seems interesting to determine the type represented by Polish spin-off companies, the factors determining the success of these companies. The response to such questions will be provided by taking a holistic look at the problem under study from the configurational perspective and making an attempt to define the causal alternate pathways for high performance among these firms. Originality/value: The performed research contributes to the understanding of the core of functioning and growth of spin-off companies in Poland. The paper highlights differences across configurations, and that founders devise alternate pathways to achieve high performance. It also notes changes in relationships among variables across configurations.

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Women on Boards: Does Gender Composition Affect Financial Results of Companies?

Author(s): Jolanta Maj / Language(s): English Publication Year: 0

Purpose: The paper aims to answer the question on the number of women in the highest organizational bodies in Polish enterprises and whether there is a relationship between the compositions of boards due to gender of their members and financial results achieved by the companies and therefore to tell whether gender and/ or gender composition through inter alia a different management style or openness to risk influences the financial condition of organizations.Design/methodology/approach: For the analysis 281 companies listed on the Warsaw Stock Exchange were analysed. Basic financial indicators disclosed in the annual financial reports for 2015 were chosen. The reports for 2015 were analysed from 1 till 10 February 2017. Using statistical analysis the financial indicators were juxtaposed with the number of women on boards. Also the number of women serving as chairman of the board was included into the analysis. Furthermore a regression analyses using dummy explanatory variables (women president of the board, women in management boards and women in supervisory boards) and three different dependent variables (ROA, ROS, ROIC) have been conducted.Findings: The paper provides insight into the composition of boards in Polish companies listed on the Warsaw Stock Exchange due to gender. It shows that boards of these companies are highly masculine. The attempt to show relations between the gender composition and organizations financial performance were not entirely conclusive and need further analysis. Research/practical implications: The paper includes implications for decision – makers. It can be used as a reference by regulatory bodies to further investigate on the means as to how board composition can influence the firm performance. It may also be used for SME's in a very crucial recruitment or succession process, which, due to SMEs limited capability needs to take all the important factors, like gender of the people in question into consideration.Originality/value: The research contributes to the literature on the relationship between women participation on corporate boards and firms’ performance. This paper fulfils a gap in the analysis of Polish enterprises with regards to board composition due to gender and the linkage of this composition with the firm’s financial performance.

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Newconnect as a Source of Financing for Small and Medium-sized Enterprises

Author(s): Joanna Małecka / Language(s): English Publication Year: 0

Purpose: Given that it concentrates market demand for financial instruments offered by issuers, the stock exchange is an ideal source of raising capital on favourable terms. Public issuance allows more reliable access to potential investors, with potentially higher issue prices. Skilful seizure of such opportunities can provide companies with development funds and improve their market position in line with their stated objective. Why then do so few companies use the main tool of the capital market in Poland? The article presents NewConnect as an alternative financing source for SMEs, collating it with the awareness of Polish entrepreneurs in this respect.Design/methodology/approach: Findings are based on source data from various publications by financial market institutions. The volume and structure of Europe’s selected alternative markets are outlined by means of analyses, figures and comparisons. The focus is on commercial companies allowed to cooperate with stock exchanges. To calculate and visualise the findings, mathematical analysis tools were employed to determine quantitative and percentage shares illustrating the examined structures and to outline a trend analysis based on linear regression. 200 respondents were interviewed for recognisability of capital market instruments in Poland and their knowledge and ability to raise development capital in this way.Findings: The capital market development and increasing competition are posing new challenges for SMEs, whose changing way of thinking should be transformed into actual changes in their business activities. The data show that this change, although very slow, is nonetheless underway and SMEs’ interest in capital market solutions is increasing year by year.Research/practical implications: The author’s research results have revealed a correlation between respondents’ education and their knowledge and ability to differentiate the capital market from the money market. The better educated a respondent was at the time of the research, the more broadly he/she assessed the range of capital market solutions and opportunities for raising development capital through the stock exchange and NewConnect. This is, however, not combined with the maturity in respect of correct estimation of risks or opportunities for raising capital for development of one’s own entrepreneurship in this way.Originality/value: Small enterprises whose owners consider raising capital through the stock exchange as part of strategic management and business philosophy will be offered an additional opportunity for relatively easy access to capital, enabling companies to develop and increase their prestige. The author’s own research results have shown that it seems necessary to modify the traditional paradigm of SME management in the aspect of SME owners’ leading role.

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Reflection of Ethical Principles in Czech Codes of Ethics

Author(s): Radim Maňák,Martina Nikolskaja,Tomáš Tykva,Monika Jones / Language(s): English Publication Year: 0

Purpose: The paper deals with the code of ethics as a significant tool of business ethics. Its objective is to evaluate a chosen set of Czech codes of ethics from different points of view and to find typical characteristics and specifics of these documents. The attention focuses on form and content criteria.Design/methodology/approach: A basic analysis of form, content and structure of a set of codes of ethics used in the praxis was carried out in this paper. The first phase of the research formulates the theoretical base and identifies the criteria for the empirical research. The research is carried out on a chosen set of 20 codes of ethics of individual companies in the Czech language available online. These codes are evaluated from the point of view of their form and content on the basis of discourse and genre analyses. The main characteristic features of the chosen set of codes of ethics are identified. Findings: The gained results help to show the profile of a typical company Czech code of ethics. It is typically not longer than 6 standard pages and has an entry part that could be understood as a preamble. The code is mostly classified by problem areas and offers personal text style. The majority of the codes do not have explicitly defined values, but almost all of them accentuate the observance of law.Research/practical implications: The results of the paper, as described in findings, can be used by the management of companies that should respect specific content and form aspects when creating their codes of ethics. For the science, it is important that the principles of business ethics find their application in the Czech business environment and in the available tools of business ethics although often in coexistence with law principles which are not the key topic of business ethics.Originality/value: The paper studies a real and present-day set of documents and brings original results in this field of study.

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The Effect of Gender, Age and Education on Entrepreneurial Curiosity

Author(s): Miha Marič,Ivan Todorović,Mladen Cudanov,Gašper Jordan / Language(s): English Publication Year: 0

Purpose: Entrepreneurial mind-set has been a topic of various research. Entrepreneurial curiosity has been related to some other constructs in entrepreneurial research, whereas the antecedents or the relation to the entrepreneur’s demographics has yet not been investigated. We therefore test how gender, age and the level of education affect entrepreneurial curiosity.Design/methodology/approach: Since there is no previous research on which we could build hypotheses, we use three research questions; and explore if there is a difference in entrepreneurial curiosity depending on the gender, and the possible curvilinear relationships among age and entrepreneurial curiosity, and the level of education and entrepreneurial curiosity. Participants in this study were entrepreneurs from Serbia, from which we gathered data through the interviews, by using a survey in which they were questioned about their gender, age, level of education and on the variables composing entrepreneurial curiosity. Findings: The results show a difference in entrepreneurial curiosity based on gender, indicating that entrepreneurial curiosity was greater for women than men. Potential curvilinearity between age and entrepreneurial curiosity and the level of education and entrepreneurial curiosity was not confirmed due to the lack of statistical significance.Research/practical implications: The results of this study give better insights into the basic demographics’ effect on entrepreneurial curiosity. The implications are foremost for the policy makers, investors and entrepreneurship researchers, so they can have better insights on whom the entrepreneurially curious ones are. Suggestions for further research are to continue investigating the antecedents of entrepreneurial curiosity and also its consequences. Originality/value: The proposed research has not yet been done, so that this will contribute to entrepreneurship theory and practice.

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Interrelation between Corporate Social Responsibility and Company Performance

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

Purpose: The paper is focused on the identification of relation between corporate social responsibility (CSR) and company performance in the Russian Federation. The aim of study is an empirical search for the answer to the question: Are socially responsible activities of the companies linked to their results?Design/methodology/approach: Data on the large Russian companies belonging to different branches were taken as a basis for the research. The sample includes data on the CSR level of fully and partially rated by CSRHub Russian companies for the 2012-2017 years. These data were supplemented by information about the companies performance from the Moscow Exchange, the RBC Information Systems and the official financial statements of the companies. Panel regressions with fixed effects were employed and econometric models with dependent variables such as Market Capitalization, Net Profit, Revenue, Return On Assets (ROA), Return On Equity (ROE) were estimated to fulfil research aim. Findings: The regression analysis confirmed the existence of the positive impact of CSR level on the companies performance. In particular, it showed the existence of positive impact of CSR level on the market capitalization of companies and their revenue. No negative impact of socially oriented activities of companies on companies performance has been detected.Research/practical implications: The research results can be used by the heads of the companies while formulating CSR policy, by the state bodies in the process of regulating and developing CSR Institute.Originality/value: The study empirically proved the positive impact of CSR level on companies performance and refuted the assumption that CSR costs do not pay off in economic conditions of Russian Federation.

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South Moravian SME´s Performance in Relation to Maturity of Leadership: Results of a Quantitative Research Study

Author(s): Lukáš Mazánek,Jan Pekárek,Josef Veselý / Language(s): English Publication Year: 0

Purpose: The paper aims to clarify the ability of South Moravian SME managers to perform leadership skills. SME´s need to know how to influence affective organizational commitment, defined as a voluntary attachment to the organization, using methods that are cost effective. Application of adequate leadership practice is one of the major factors of success in small and medium-sized enterprises in the UK and Europe. Lack of leadership is cited as a cause of failure in companies and risk to the national and regional economy as well.Design/methodology/approach: We surveyed 112 manufacturing companies to obtain 77 questionnaire responds from South Moravian small manufacturing companies’ CEOs and filtered the total of 48 valid SME´s respondents. The total of 22 questions, mapped 4 groups of interest in the field of setting vision, enthusiasm, motivation, trust, talent, creativity and knowledge level perception of company CEO. Every question was rated from 1 – 5, when as higher value than higher perception of leadership was assumed. Questions were voluntarily possible to add with a short note explaining the value.Findings: It was found, that there are two major clusters of companies. These with low to average leadership performance (with L approximately 70% of less) and these with high performance (with L more than 70%). Minimal performance was 9.1%, maximal performance was 98,2%. Only 6 of selected companies performed more than 80%. Nevertheless 5 of them showing low score (>3) in the same subquestion focused at whether leaders inspire others to dreaming about “what if”.Research/practical implications: Seven best-performing companies are very strong in evaluated leadership facets. In the future research pursue then explanation of the factors, which differs identified two clusters of companies, what differs those average from the best. We are going to conduct in depth interviews with CEO´s of these best performing companies, and we expect, that the results will lead to better understanding how to enhance level of leadership perception. Concurrently applicable advices will be formulated, to enhance companies, having average leadership performance. Originality/value: This paper fulfils an identified need to understand current leadership performance in South Moravian SME´s. Leadership perception was analysed and described in 4 groups of interest (vision, enthusiasm, motivation and talent).

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Challenges in Promoting Migrant Entrepreneurship: First Empirical Evidence from Germany

Author(s): Hartmut–Heinrich Meyer,Anna Pilková / Language(s): English Publication Year: 0

Purpose: Migrants are known for their high affinity to entrepreneurship and record for substantial entrepreneurial activities in Germany. These activities are supported by various push factors of the labour market. Migrant entrepreneurship is also known for a high risk of failure because this group has problems meeting financial standards in Germany as well as to develop a market strategy in a highly competitive environment. The main goal of this paper is to present first empirical evidence of the entrepreneurial activities by prospective migrant entrepreneurs and their specific needs to promote migrant entrepreneurship in sophisticated economies.Design/methodology/approach: The research is exploratory in nature in order to understand the challenges in promoting migrant entrepreneurship. By employing the GEM research model to analyse entrepreneurial activities and models of social migration/integration, the research aims to define specific variables migrants face while entering sophisticated markets. The data for the analysis has been generated in Germany by studying migration statistics provided by the German Office for Migrations, as well as 20 in-depth interviews of migrants, including an analysis of their social background by their CV.Findings: This paper provides the first insights into the expectations and motivation of migrants towards entrepreneurship. It particular, the research shows quite clearly the development migrants have to undergo within a short period of time in order to change from a survival-oriented economy, characterized by an unreliable economic environment, to an innovation-driven economy. The major challenges for migrants is to build up the required managerial competencies in order to develop a market strategy and to meet the financial standards in Germany. The analysis of the interviews showed quite clearly that the potential migrant entrepreneurs are underestimating these entrepreneurial requirements. Research/practical implications: The results of the paper show a strong need for early entrepreneurial education. Thereby there is a need to develop entrepreneurial training and consultancy programs for better knowledge transfer, based on the migrant’s entrepreneurial environment. Moreover, the paper also gives some insights into the migration policy to reduce push factors towards a necessity driven entrepreneurial motivation. The required entrepreneurial training should take place within the welcome and arrival stages of the integration process in order to avoid future business failure. Here one perceives responsibility by policy makers and authorities involved in the integration process to provide the necessary resources.Originality/value: The paper allows the first insights into migration entrepreneurship. On the basis of the research model, as well as a newly created understanding of the survival orientated economy, this paper gives an understanding of the need to change the attitude of prospective entrepreneurs when entering entrepreneurship. The main added value of this paper needs to be seen as giving new insights into the entrepreneurial process of migrants as well as their entrepreneurial personality.

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Using Competitive Technical Intelligence Patent Search Methods to Uncover Automotive Industry Trends

Author(s): Zdeněk Molnár,Jan Černý / Language(s): English Publication Year: 0

Purpose: Patent information is widely known as a valuable source for Competitive Technical Intelligence (CTI) focused on competitor activity analysis in the technological field. Moreover, patent classification schemes provide us with a unique possibility to discover industry trend directions and key players in a particular field. This paper aims to describe the importance and use of a patent classification for CTI purposes directed towards the automotive industry. Design/methodology/approach: The authors have used the Global Patent Index bibliographic database to present search syntaxes with International Patent Classification codes to uncover the key players and trends in the automotive industry focused on forms of protection against, or prevention of injuries to drivers, passengers or pedestrians in the event of accidents or other traffic hazards.Findings: The patent classification plays an important role in narrowing down a specific patent search for Competitive Technical Intelligence purposes. It also specifies the innovation directions for a particular technology. The results of this paper show the ten main innovative companies in the field of road safety between the years 2014 and 2016 based on the searches, and indicate that Toyota is the leader in vehicle safety innovation in this period. We have also determined the ten main product invention categories, and that occupant safety arrangements or fittings lead current industry trends.Research/practical implications: The paper represents implications for CTI advanced search methods and activities leading to innovation. The search process can be applied in other technology fields.Originality/value: This paper proposes a method for effectively using patent information for CTI purposes focused on the automotive industry.

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Technology and Knowledge Transfer as Third Mission Activities at the Slovak Universities

Author(s): Danka Moravčíková,Štefan Rehák,Martina Hanová,Libor Vozár / Language(s): English Publication Year: 0

Purpose: This paper deals with issue of the impact and relationship between universities and regions. The authors identify the third role and related tasks for academic education and research in context of the regional development. They describe and compare the activities and contribution of the Slovak universities in the field of knowledge and technology transfer. The study discusses also the specific problems of cooperation between universities and regions. Design/methodology/approach: The paper reports selected results of a survey carried out for The Ministry of Education, Science, Research and Sport of the Slovak Republic within the project “Strengthening the Impact of Higher Education in the Regions”. Two thirds of universities in Slovakia participated in the questionnaire survey. Qualitative information was obtained from eight focus group interviews with representatives of regional authorities, employers, academic representatives and NGOs representatives from four aggregated regions (Bratislava, West, Middle and East Slovakia).Findings: This paper offers an empirical picture of initiatives connected with universities’ concern about the needs of the future employers, support of entrepreneurial activities and innovative entrepreneurship in the region. The authors point to the fact that in developed countries, firms pull the new research results from universities, while in Slovakia there is rather a push effect when universities attempt to push their research results into reality of commercial firms. They mention that the dividing line between applied research and innovations are not at all clear and also point to weaknesses in the activity of universities concerning intellectual property rights protection.Research/practical implications: The authors provide case studies of four Slovak regions highlighting the opportunities, barriers and challenges in surveyed issues. They formulate also concrete policy recommendations. Presented information and findings need further examination through a broader analysis, but they also emphasize the importance of better understanding and explanation of the third mission of universities in the Slovak context. Originality/value: The paper represents a specific approach of studying third mission activities of universities and contributes to discussion of transferring the academic knowledge and technologies by empirical outlining these activities.

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Wine Marketing: The Case of Micro and Small Wine Companies in the Czech Republic

Author(s): Anastasia Murínová / Language(s): English Publication Year: 0

Purpose: Wine marketing is one of the main reasons of survival and development of micro and small wine companies, that have own rules and advantages which allow to stay in that upcoming craft. Micro and small companies is a major part of wine business in the Czech Republic. The purpose is to understand the specifics of wine marketing perception and find out which marketing tools most affect the success of the wine company within the framework of case study.Design/methodology/approach: A brief comprehensive review of recent scientific literature and articles published predominantly in marketing oriented journals was carried out followed by a qualitative case study. The concerning research part has the form of a case study. There a survey was conducted, namely the face-to-face structured interviews, which belongs to the verbal form of questioning methods commonly employed in qualitative research. Open-ended questions were used in this study that is approach of grounded theory. The qualitative content analysis was carried out for analysing obtained data. Findings: The research determines generalized understanding of wine marketing in the Czech Republic within micro and small wine companies from the theoretical and practical view. The most important and useful marketing tools were detected and confirmed by respondents’ quotations in the framework of case study. This study shows that respondents basically understand the definition of "wine marketing" in narrow image as a mean of promotion. The main purposes and influence of wine marketing on the business success were discovered within the framework of conducted case study.Research/practical implications: This study focuses on a creation of framework for further research for application wine marketing principals within the context of micro and small companies located in the South Moravian region in the Czech Republic. Results of the study are useful for both theorists and practitioners. Conclusions and that grounding can be as a platform for the development of further in-depth theoretical model of wine marketing. Representatives of the wine business might be interested in conducting a comparative analysis of the activity and the possible use of a well-functioning marketing tools. Originality/value: This paper reflects the perception of selected wine marketing of wine business representatives in the South Moravia region in the Czech Republic. The admitted practical applications of wine marketing tools are equally beneficial.

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Environmental Responsibility in Marketing Activities of Companies

Author(s): Zdenka Musová,Hussam Musa / Language(s): English Publication Year: 0

Purpose: Current negative course of events in the environment influences the activities of companies, as well as the behaviour of consumers. Companies are forced to take these trends into account also in the marketing activities. Consumers also treat the environment with higher responsibility. The behaviour of companies and consumers is closely connected. Consumers, while they are making purchase decisions, react to various stimuli from the external environment, including marketing stimuli of companies. In that context, the aim is to define the environmental marketing and examine consumer perception of it with an emphasis on particular tools of marketing mix. Design/methodology/approach: Secondary data analysis is supplemented by selected results of the preliminary questionnaire survey from March 2016, through which we determined whether the environmental efforts of companies have a sense of consumers and whether consumers are adequately responding to them. Structured questionnaire was designed to elicit responses about the effects of various environmental marketing tools on consumer purchase behaviour and it´s perception from 420 respondents from the Slovak Republic.Findings: The selected outcomes of the preliminary questionnaire survey focused on examination of consumers´ environmental behaviour and reactions to environmental initiatives of companies are presented. We found out that the environmental awareness of our respondents is low. They recognize environmental activities of companies only partially and they rarely take them into consideration when making buying decisions. This reality may seem discouraging for the environmentally oriented companies and may lead to less responsible behaviour of them in the field of environmental protection. Research/practical implications: Rising concerns about our planet´s future mobilize all market participants towards active protection as well as the removal of existing damage. Responsible marketing managers, who assess all their decisions with respect to the environmental impact, are no exception. We summarize the basic recommendations for companies focused on improvement of their behaviour concerning creation of an environmental marketing mix respecting needs and desires of the developing segment of environmentally responsible consumers. The achieved results will be the basis for a more detailed examination of the issues for the subsequent representative research.Originality/value: The results of our survey confirmed that responsibility for solving current long-run environmental problems must be taken not only by the companies but also by consumers themselves. If behaviour of both partners is responsible, the relationship will be beneficial for both market participants. This paper fulfils a need for advancing knowledge on implementation of environmental responsibility in marketing activities and provides a practical framework for responsible and environmentally-friendly (marketing) managers.

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Early and Fast Internationalisation of High-tech Start-up Firms

Author(s): Michael Neubert,Augustinus (Stijn) van der Krogt / Language(s): English Publication Year: 0

Purpose: This paper analyses the research problem of the significance of early and fast internationalisation and how and why high-tech start-up firms (HSFs) from small and open economies (SMOPECs) differ in their internationalisation speed. For this purpose, the paper samples Switzerland as a developed economy and Paraguay as an emerging economy. This paper is based on the conceptual framework of the ‘born global firm’ (BGF) theory and the reviewed and updated Uppsala internationalisation process model.Design/methodology/approach: The research questions will be answered using a comparative multiple case study research design. Data will be collected through multiple sources of evidence, including semi-structured, in-depth, individual face-to-face interviews with subject-matter experts (SMEs), field notes, corporate brochures, business plans and reviews, culminating in a reflection of the data collected. After drawing a random sample from a database of Swiss and Paraguayan HSFs, some typical cases are selected. The Swiss (Paraguayan) sub-sample comprises 20 (12) SMEs who are CxOs, owners and founders. These people have expertise and knowledge as entrepreneurs and managers in technology management as well as fundraising.Findings: The results of the research reveal that the speed of internalisation is influenced by factors such as the skills of an entrepreneur and the management team, their international networking and learning skills, the business model and the pricing strategies of the HSF, market selection, the market entry mode, the successful implementation of a structured market-development process, uniqueness of the technology and the product portfolio, availability of market opportunities and the size of the home market. Furthermore, the results show significant differences between HSFs from developed and emerging SMOPECs concerning the importance of these factors for early and fast internationalisation.Research/practical implications: The implications for practice, applications and consequences are identified. The outcomes will support policy makers, educators, investors as well as founders and managers to identify the respective key success factors for successful internationalisation and provide the required resources, including capital, processes and know-how. Future research can analyse the effect of location in cross-national studies with additional emerging and developed SMOPECs.Originality/value: The findings of this qualitative multiple case study research project contribute to the field of research on international entrepreneurship because they will help researchers to better understand the significance of early and fast internationalisation and how and why HSFs from emerging and developed SMOPECs differ in their speed of internationalisation. In addition, the findings contribute to managerial practice because they will help managers and founders of HSFs from emerging and developed SMOPECs to develop new foreign markets earlier and faster.

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International Pricing Strategies of High-tech Start-up Firms

Author(s): Michael Neubert / Language(s): English Publication Year: 0

Purpose: This paper aims to understand how high-tech start-up firms from small and open economies develop and optimise their international pricing strategies and models. The paper proposes modelling a pricing strategy process and outlining why and how leadership is important throughout the pricing process. The study aims to expand the study of international entrepreneurship and global firms by including a broader and deeper range of pricing aspects than is normally found in the international entrepreneurship and pricing literature. Design/methodology/approach: The paper opted for a multiple case-study research design using different sources of evidence, including four in-depth interviews with CEOs of high-tech start-up firms. The case-study firms were selected using a purposive selection method. The interviews were conducted in December 2016 at the corporate headquarters of companies. The data was analysed using grounded theory to develop categories and to understand consistencies and differences. The theoretical framework of Ingenbleek, Frambach & Verhallen (2013) is used to analyse the pricing strategies of the case study firms.Findings: The paper provides empirical insights about how high-tech start-up firms from small and open economies develop and optimise their international price-setting strategies and models. It suggests that successful leaders act as ‘integrating forces’ on two levels: by applying a structured and disciplined price-setting process with regular reviews and by mediating between corporate financial goals and the local market reality. Research/practical implications: The results are relevant for researchers and policy makers who support activities that promote engagement into entrepreneurial activity. The results support that claim that policy makers should offer insights, training and financial support to give promising high-tech start-up firms the possibility to select the most efficient international pricing models and strategies. The results are relevant for entrepreneurs to understand the importance of efficient price-modelling processes, including regular price reviews, and the influence of the different price strategies and price models on financial results and sales revenues.Originality/value: This paper fulfils an identified need to study how high-tech start-up firms from small and open economies develop and optimise their international pricing strategies and models.

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Sustainbility in the Economic Sense

Author(s): David Novak / Language(s): English Publication Year: 0

Purpose: What is the perception of sustainability in the economic sense? Human behaviour cannot continue in the actually given way as the usage of natural resources exceeds regenerating ability of the earth. The result of human behaviour is called ecological footprint of human mankind; it will have crucial impacts on national economies and the business of its companies via external diseconomies. Indicators, values and consequences get investigated. Design/methodology/approach: Any here discussed objectives are only a small extract of all existing or potential objectives. The research method used by the author was an analysis of existing and published literature within Web of Science and elsewhere like the UNO and her organisations (in total more than 15 references), mainly from the last decade. The approach of the topic is to define and evaluate the actual status quo of sustainability regarding economics from the US American and German point of view. Findings: Research findings are shown within a brief summary to offer an opportunity for further analysis, discussions, or results. The ecological footprint is an accepted possibility to measure effects of men on nature, based on numerical indicators and values. The incurrence of external diseconomies must be charged or taxed in full. Economy, Society and Environment have to go hand in hand and people have to be taught their current behavior cannot continue in the previous way anymore. Research/practical implications: Results and implications for practice, applications and consequences are identified as added value. Changes of sustainability and its effects can only be evaluated in the mid and long term run. Any real short term effects should not be expected. Avenues of future research should have always a focus on sustainability, if current behaviour of human mankind offers an acceptable opportunity of surviving for future generations. Originality/value: This paper sees sustainability from the economics point of view (a research gap so far) and is in contrast to most existing literature which has the approach from the environment (natural sciences/technique) or society/politics.

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