Impacts of Implemented Changes on Business Performance of Slovak Enterprises

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 PivotTables. 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 results of the research show that the business performance of Slovak enterprises is directly affected by surveyed aspects of implementing changes. <br />Implications for Central European audience: The results of 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 partial research results provides practical implications on how to achieve higher profitability through the successful implementation of changes and monitoring their effects.