Scholarly record

ASSESSMENT OF BUSINESS ENVIRONMENT RISK LEVEL IN SMALL AND MEDIUM-SIZED ENTERPRISES IN POLAND AND SLOVAKIA

M. Okreglicka, K. Haviernikova

Abstract

The aim of the article is to identify and characterize the level of business environment risk in the sector of small and medium-sized enterprises in Poland and Slovakia to prepare the recommendation for risk management improvements in the future. Article is based on own questionnaire research, conducted among total 273 SMEs from Poland and Slovakia in 2016. The descriptive statistics and Gamma correlation will be used in empirical data analysis to achieve the paper goal. Authors emphasized that risk management should be a key element in the strategic management of any organization, regardless of its size. It increases the likelihood of organizationВ’s success and achievement of its goals. Nowadays, business environment is increasingly complex and changeable. To maintain the competitive position, organizations should closely observe the economic environment to identify the areas of risk and possible advantages. The knowledge about level and character of enterprise risk, including business environment risk is a tool to proper risk management. Paper presents the differences both between countries of research and in enterprises of different size. The novelty of the paper is visible by exploring and compering the level of business environment risk in two populations of enterprises from different countries.

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DOI resolver: doi.org/10.5593/sgemsocial2017/14/S04.010

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