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Impacts of Implemented Changes on Business Performance of Slovak Enterprises

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  • Andrea Sujová
  • Ľubica Simanová

Abstract

The paper aims to investigate the relationship between performing changes and business performance represented by the return on equity (ROE) indicator, and to point out the importance of changes and their management in Slovak enterprises. Relevant data from enterprises in the Slovak Republic were obtained through an online research questionnaire. The evaluation of the questionnaire was carried out using the software program STATISTICA 12 CZ - Stat Soft. Inc. (2013). Mathematical-statistical methods were used to examine and evaluate the interrelationships and the effects of individual factors in the implementation of changes on business performance. Statistical analysis was performed through pivot tables. Pearson's chi-square test of independence was used to test the significance of the contingency coefficients, and Cramer's contingency coefficient was used for the intensity of dependence between the signs. The research results show that the business performance of Slovak enterprises is directly affected by surveyed aspects of implementing changes. Implications for Central European audience: The results of our research into the current state of the performance of Slovak enterprises in various industry fields and the determination of its dependence on the areas of change, type of change, impulses for change and indicators assessing the effects of change are the main contribution to the development of scientific knowledge in the field of change management. The synergy of theoretical knowledge and detailed research results provides practical implications on how to achieve higher profitability through successful implementation of changes and monitoring their effects.

Suggested Citation

  • Andrea Sujová & Ľubica Simanová, 2023. "Impacts of Implemented Changes on Business Performance of Slovak Enterprises," Central European Business Review, Prague University of Economics and Business, vol. 2023(3), pages 103-122.
    • Handle: RePEc:prg:jnlcbr:v:2023:y:2023:i:3:id:328:p:103-122
    DOI: 10.18267/j.cebr.328
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    References listed on IDEAS

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    1. Paweł Mielcarz & Dmytro Osiichuk & Paweł Wnuczak, 2018. "Working Capital Management through the Business Cycle: Evidence from the Corporate Sector in Poland," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 12(2), June.
    2. Abdelkader Alghorbany & Ayoib Che-Ahmad & Salau Olarinoye Abdulmalik, 2022. "IT investment and corporate performance: Evidence from Malaysia," Cogent Business & Management, Taylor & Francis Journals, vol. 9(1), pages 2055906-205, December.
    3. Faozi A. Almaqtari & Eissa A. Al‐Homaidi & Mosab I. Tabash & Najib H. Farhan, 2019. "The determinants of profitability of Indian commercial banks: A panel data approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 24(1), pages 168-185, January.
    4. Eissa A. Al‐Homaidi & Mosab I. Tabash & Najib H. Farhan & Faozi A. Almaqtari, 2019. "The determinants of liquidity of Indian listed commercial banks: A panel data approach," Cogent Economics & Finance, Taylor & Francis Journals, vol. 7(1), pages 1616521-161, January.
    5. Bunea, Ovidiu-Iulian & Corbos, Razvan-Andrei & Popescu, Ruxandra-Irina, 2019. "Influence of some financial indicators on return on equity ratio in the Romanian energy sector - A competitive approach using a DuPont-based analysis," Energy, Elsevier, vol. 189(C).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Change management; business performance; return on equity;
    All these keywords.

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • P47 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Performance and Prospects

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