Industry In Slovakia Research Articles

Current and Potential Chinese Foreign Direct Investment in the Slovak Republic

Abstract This article presents an overview of current and potential investment from China into the Slovak Republic within the broader CEEC region cooperation based on the 16+1 platform. Based on a business study on the automotive industry in the CEEC region, and particularly Slovakia as one of the industrial sectors for possible Chinese investment with immense potential, the article aims to identify the main advantages and disadvantages of the region as a foreign direct investment destination. The article also analyses the impact of FDI inflows on the Slovak economy. We come to the conclusion that the recent FDI inflow from China to Slovakia has been statistically insignificant, which may, however, change in case the envisaged Chinese investment into the steel industry in Slovakia will be realised. With respect thereto, the article also points at the need to set out a new revised framework for the international legal protection of Chinese investment in the EU. It has been established that further research is required to assess the impact of Chinese FDI on the Slovak economy.

(Selected Promising Industries in Slovakia and Industrial Cooperation between Korea and Slovakia)

Korean Abstract: 본 연구는 EU 회원국 중 가장 역동적·성공적인 경제발전을 보이고 있고, 우리 기업의 진출도 활발한 슬로바키아를 대상으로 유망 산업을 자동차와 인프라 부문으로 선정, 심층 분석하여 한·슬로바키아 산업협력 강화 및 진출방안을 제시하는 데 그 목적이 있다. 슬로바키아 시장 진출환경 관련 설문조사 결과, 총 응답 기업은 37개로 주로 슬로바키아에 진출해 있는 우리 기업의 현지 책임자를 대상으로 조사하였다. 조사 결과 한국 기업은 내부적 능력이 평균 이상이나, 슬로바키아 시장 진출에 있어 기회를 살리고 위협을 최소화하는 데는 대체로 만족스럽지 못하다는 결론을 내렸다. 이러한 결론을 기초로 우리 기업의 보다 향상된 전략 개발을 위해 외부환경과 내부환경을 동시에 고려하는 연결전략을 모색하였다. English Abstract: Slovakia is a dynamic EU member state and a successful case of economic transition and development, currently attracting numerous global companies into her market. This study aims to analyse a selection of promising industries in Slovakia with the objective to strengthen industrial cooperation between Korea and Slovakia and to recommend measures for Korean companies that are planning to gain access to the EU market, which has contracted after the Eurozone crisis, by entering into the Slovak market. This study covers the overall conditions, Slovak government's policy, detailed industry trends, growth potentials and prospects of the automobile and infrastructure industry in Slovakia. These industries were selected based on the criteria of: importance in the Slovak economy, recent growth rate, future growth potentials, and possibility of market entrance for the Korean companies. The results are supplemented by the findings of a survey on Korean companies already present in Slovakia. The automobile industry is divided into the complete vehicle sector and parts/components sector, while the infrastructure industry is divided into the energy/environmental sector, ICT sector, and transport sector, etc. Within the infrastructure industry, this study focuses on the energy/environmental sector and the ICT sector, an area in which a few Korean companies have already entered in Poland and other Visegrad countries. In this study we carried out a survey on 37 onsite Korean companies about the business environment in Slovakia. The results indicate that, unfortunately, while the companies have sufficient internal capabilities, many are frustrated in seizing the opportunities and minimizing the risks to thrive in the Slovak market. Therefore, this study suggests strategies for such Korean companies to cope with the circumstances by considering both external and internal factors.

Culture of quality: insight into foreign organisations in Slovakia

This paper aims to present the results of comparative research on the culture of quality in the largest foreign and domestic organisations operating in the automotive industry in Slovakia. The empirical research examines quality strategy, quality vision, leadership, quality values, and customer involvement practices. The comparative research is based on in-depth personal interviews with professionals responsible for quality and innovation management in the organisations. The empirical research is combined with secondary resources (e.g. annual reports). The culture in Slovakia as described according to the Hofstede model has a ‘high power distance’ and is strongly ‘masculine’. Empirical research on the large foreign organisations operating in the automotive industry in Slovakia recognises that the culture of quality varies significantly according to the country of origin. Inherent differences exist within French, German, Korean, Mexican, Norwegian, and US companies. Proximity in culture can be found between France and the United States as well as Mexico and Germany. The main differences in the culture of quality are primarily in practices and less in vision, values and leadership approaches. Despite the variability within the group of foreign companies, as a group, the set shows a common culture that is fundamentally different from the culture of the sample of Slovak companies. The research focused only on the group of the largest organisations operating in the automotive industry in Slovakia, both foreign and domestic. The paper provides original findings on the culture of quality in foreign organisations operating in Slovakia. Previous studies have not examined what culture of quality arises when a foreign-owned company is faced with the culture of Slovak employees.

Vplyv aglomeračných úspor na rast zamestnanosti v kreatívnych odvetviach na Slovensku

The paper explores the impact of agglomeration economies on employment growth in the creative industries in Slovakia between 1998 and 2014. Using a spatial econometric model it has been confirmed that related variety plays a significant role in employment growth in creative industries, while significance of unrelated variety has not been confirmed. In other words, the districts specialising in different, but at the same time cognitively and technologically related creative sectors, have achieved higher employment growth in comparison to those specialising either in one selected creative sector, or in unrelated sectors. Moreover, the results indicate that knowledge spillover effect in creative industries is configured more locally what emphasizes the importance of a local level in the process of knowledge creation and its spillover.

From Financial Measures to Strategic Performance Measurement System and Corporate Sustainability: Empirical Evidence from Slovakia

(ProQuest: ... denotes formulae omitted.)IntroductionThe main aim of research was to determine the effect of the selected parameters of strategic performance measurement and management on the overall business performance and through sustainable development composite index to determine its impact on business performance of Slovak industrial enterprises.In our research we analyze the selected concepts of strategic and sustainable business performance measurement and management. Operating with an online questionnaire we focus on the use of the selected methods of strategic and sustainable performance measurement and management for various industries in Slovakia. The main aim was to find out the key methods of strategic business performance measurement and management with positive effect on better business performance. The first stage of primary research presents the selected sample of Slovak enterprises along with their online questionnaire focused on the use of the selected parameters of performance measurement. The emphasis is on the investigation of the impact these parameters have on the overall business performance measured by ROE. In the second phase of research, we focus on exploring the issues of measuring corporate sustainability through a sustainable development composite index in a particular manufacturing enterprise and its impact on performance. The conclusion contains the assessment of achievements and the identification of mutual relationship and strategic performance measurement system and one of the ways to measure corporate sustainability. In this paper we publish the most significant results of our research in detail.1.Literature reviewFor several years, measuring corporate performance has been in the centre of attention not only in the academic field but also in business area. New approaches to corporate performance which support traditional indicators have been preferred for many years. Measuring corporate performance has been studied by many authors from different points of view: the relationship of strategy and strategic orientation with business performance (Morgan, Strong, 2003), the view on strategic measurement performance system through strategic agenda and decision-making as a result of formulating or reformulatign strategy (Bisbe, Malagueno, 2012), the effect of strategic measurement performance system on the important attributes of the process of formulating business strategy (Gimbert et al., 2010; Mentel & Brozyna, 2015), the effect of the Balanced Scorecard (BSC) concept and its importance as a strategic tool for measuring and managing business and management performance (Knapkova et al., 2014), the effect of strategic performance measurement system of human resources and corporate results (Bento, White, 2014), the relations among customer satisfaction, customer loyalty and financial performance of a commercial bank (Belas, Gabcova, 2016), customer satisfaction in banking business and its importance for financial performance of a commercial bank (Koraus et al., 2015), tax revenue administration and its process model for Slovakia's economic performance (Dobrovic, Koraus, 2015), strategic business performance management on the base of controlling and managerial information support (Zamecnik, Rajnoha, 2015). Other study indicates there is a positive significant relationship between management tools and techniques utilization and organizational performance (Afonina, 2015). Stefko et al. analyzed prices as a key competitive factor in the steel industry for Slovakia and Poland (Stefko et al., 2012). Another research was focused on business performance in the scope of investment measurement and management using investment effectiveness evaluation methods. Research results confirmed the assumption that the use of investment valuation methods is limited by foreign ownership of company and certain methods caused better business performance (Rajnoha et al., 2016). Similar study is dedicated to process performance measurement in Czech companies (Tucek et al. …

Regional specializationand geographic concentration: experiences from Slovak industry

AbstractThis paper attempts to indicate changes in industry during the period of economic restructuring and European integration in Slovakia in the regional and sectoral contexts. The concepts of geographic concentration and regional specialization are used in order to achieve the envisaged aims. Based on the relationship between the change in the specialization index and the change in the number of companies in three size categories, the main aim is to show the strategies used in the transformation of the regional industrial structure. It is expected that the largest category of industrial companies, those with 250 or more employees, will be a significant factor in explaining the changes in regional specialization. The main output will be a graphic model of transformation strategies and the identification of regional industrial types.

Whose success? The state–foreign capital nexus and the development of the automotive industry in Slovakia

Using the case study of Slovakia, this article considers the role of the state in the rapid growth of the automotive industry in integrated peripheral markets of the global automotive industry. Although this growth has been mainly driven by the investment strategies of automotive lead firms, the state has played an important role by accommodating the strategic needs of foreign capital through neoliberal economic policies. In addition to secondary sources, the empirical research is based on a 2010 survey of 299 Slovak-based automotive firms with a response rate of 44% and on 38 on-site firm-level interviews conducted between 2011 and 2013 and one in 2005. The analysis draws upon approaches in economic geography, international political economy and upon global value chains and global production networks perspectives to argue that the successful development of the automotive industry in Slovakia has been achieved at the expense of its overwhelming dependence on foreign capital and corporate capture. The article considers the potential consequences of dependent industrial development for the domestic automotive industry and its position in the international division of labor.

Primjena ABC analize za inventar u automatiziranoj proizvodnji koristeći učinak uštede troškova

The highest levels of management work towards profit maximization, trying to achieve the lowest possible costs and the highest possible revenues. Managers in the automotive industry have the same goal. Nowadays, the automotive industry in Slovakia is based on direct foreign investments. The industry is a key sector and is considered to be the driving force behind the development of the whole economy. ABC Analysis is one of the tools that enable companies to control their costs. It provides detailed information that enables the monitoring of how resources have been utilized within a company. It enables the management to evaluate whether costs correspond with the purpose of their spending. For this research ABC analysis was applied to the conditions within the automotive industry with the aim of utilizing the effect of cost savings. On the basis of the research and statistical calculations a proposal is put forward that enables companies to reduce their costs bound in the inventories. The new system of inventories management will enable company managements to utilize the saved money in another way and to achieve further optimization of the processes.

A Designed Model of Sustainable Competitiveness for Slovak Industrial Companies in the Global Context of Sustainable Corporate Social Responsibility

Abstract In this article we introduce a model of sustainable competitiveness, which we created on the basis of a long term study of literature and analysis. This article is divided into several parts. In the first part, we will introduce the problem of competitiveness and sustainable competitiveness. The second part is focused on the basic aspects for the creation of the model. In the third part the model itself is introduced and also an explanation and description of the mode is given.

Water Transport - The Challenge for the Automotive Industry in Slovakia

An important factor in choosing the transport mode in the automotive industry is not only the current price but also the shipping time. In some cases the latter one is even crucial and significantly affects the choice of the transport mode. Geographical location of the port of Bratislava allows its direct connection to the North and Black Sea. The study provides a comparison of transportation time from the selected Slovak car producers and shows advantages of water transport. Time of delivery is a criterion that can be easily quantified and mutually compared. The fastest transportation mode - the road transport saves the time of delivery eight times more on average than the water transport in the European transport network. The waterway, on the other hand, is cheaper and environmentally friendlier.

Potential, Prices and Resources of Raw Wood Assortments for the Pulp and Paper Industry in Central Europe

In the last decade the prices of wood in Slovakia were affected by the global economic crisis, rising intensity and extent of incidental felling and specific market conditions in SR. This paper analyses the shares of selected raw wood assortments supplies for the pulp and paper industry in Slovakia, the Czech Republic, Austria and Germany for the period 2008-2013. We also analyse the price trends of raw-wood assortments of the III.C class spruce, fir and beech saw-logs, pulpwood and firewood in selected countries of Austria, the Czech Republic and Slovakia. The analysed period represented the last 7 years (from 2008 - April 2015). The last part is devoted to evaluation of the potential of these assortments as a source of raw material for pulp and paper industry.

Analysis of Industrial Architectural Heritage – Iron and Steel Plants as a Development Potential

The urgency of recording and preserving the physical evidence of Slovakia's disappearing industrial heritage is prompted by the recent dramatic demolitions of many production buildings and even whole industrial sites. Accompanying architectural discussion confirmed the lack of systematic mapping and evaluation of our industrial heritage and furthermore that the traditional heritage conservation approaches do not offer sufficient tools to preserve and evaluate this remains of our industrial history.This study is focused on the industrial architecture of historical iron and steel plants that were in operation in the territory of Slovakia between the years 1800 – 1948. The aim of this paper is to analyse the architectural and urban characteristics and common features of observed historical ironworks as a support for the protection and interpretation activities. The paper is divided into several parts: 1. A description of the architectural and urban development of the iron industry in Slovakia with regard to the development of technical and technological processes; 2. A categorisation and an analyse of typological characteristics; 3. A report on the current state of 127 historical locations of iron production.For many centuries, iron production was contributing to a social and economic development of all of the current Slovak state formations. Although the history of this industry in Slovakia is relatively well explored and published, the architectural and urban characteristic of these industrial sites is practically unknown. Nowadays, the abandoned buildings and sites of this production sector are a new attribute of our settlements. All of them offer the opportunity for reuse. The potential of their successful urban reintegration is subject to the understanding of their historic and heritage values accompanied by the complex research.

Bank Buildings and Representation Phenomenon Selection of the Work of Michal Milan Harminc, Doyen of Slovak Architecture

From the point of view of Slovak and Central-European architectural historiography, the issue of architecture of bank buildings in the era of subsiding historicism and ascending modernism has not been researched thoroughly yet. An interesting contribution to this field of architecture is presented by the work of Michal Milan Harminc (1869 - 1864), the doyen of Slovak architecture. His life and work have been the focus of a long term biographical, archival and field research of both authors. Almost 300 architectural works, created 1887 – 1951 in the region of the former Austria-Hungary, later in Czechoslovakia and other successional states (Hungary, Serbia, Romania, Ukraine), ranked Harminc to the most productive Central-European architects. Financial institutions present a significant component of his typologically as well as stylishly diverse architectural portfolio. Among his works are included main as well as branch offices of major Slovak institutions ranging from first significant establishments based entirely on Slovak capital/fund to buildings of Tatra banka, which, before the WWII, had ambition to become a central Slovak bank promoting Slovak industry and interests of national-emancipatory movement. By the 1920's, buildings rendered by excellent eclectic architect Harminc gained a monumental character. Representative and solid nature of the architecture of first Slovak bank institutions was expressed by modulation of their façades as well as solid interiors. Harminc proved himself to be a versatile author possessing the sense of adequacy of architectural forms as well as logic of disposition, whether creating in rural or in urban environment. These features were significant for first two creative periods of Harminc's work, emerging from historicism to the position of modern official monumentality.

Education as Tool for the Development of Creative Industries in Slovakia

Abstract Education is widely accepted as important source of future economic growth and is strongly supported by public sources. Most of this support is oriented toward traditional education and industries. However, several studies show importance of creativity education as important feature for innovation and future growth. However, public support of creative industries is relatively new and most of policy measures that have been implemented are still not fully evaluated and understood. There si a strong need to look much more closer on way how public education influence creative industries and what policies could be placed to strengthen positive effects of this education also in the long run. This article represents an output of the research about the creative industries support policy in Slovakia in the field of education activities. It is containing basic literature overview comparing support policies for traditional sectors and the creative industries. We analyzed conceptual documents at the national level and basic strategic documents in the regions and selected cities of the country. We also realized several interviews in different creative economy industries. Generally, creative industries in Slovakia are much less in the centre of public support policy compare to traditional industry sectors. This is also the same in case of education. Despite of wide varietyof support tools used in the world, only few of them are applied in Slovakia. Interestingly, creative industries do not strongly require more creativity in education in schools. We found out the most important support in the field of education should not be related to creativity itself, but more on the complementary skills as ICT or entrepreneurship. We also found very limited role of universities and other public institutions in creative industries success stories.

The Impact of the Financial Crisis on the Labour Protection of Chosen Employer Brands in the Construction Industry in Slovakia

Abstract The paper deals with the financial crisis and its impact on the labour protection of chosen employer brands in the construction industry in Slovakia. The labour protection generally means improving the working environment and the work culture. The health and safety at work represents today one of the most important social policy areas of the European Union. The neglect of labour Protection has the negative impact on the employee, the employer and whole society. This doubly remains since 2008 and basically this period continues today. It is a period of global economic crisis, which came up in a protection work. In cases of massive investigation in companies, there is a risk of undermining the protection of labour. This can be manifested, for example, in injury in companies in sanctioned, occupational diseases, etc. For these reasons, the survey was carried out with focus on chosen employer brands in Slovakia, and the results are presented in that paper.

Evaluation of Investment Management and Business Performance in Wood Processing Industry in Slovakia

The aim of this paper was to analyze certain parameters of investment measurement and management of companies in Slovakia, especially in wood processing industry compared with other industrial sectors. Statistical analysis was made of relationships between investment trends and performance given by the indicator Return on Equity. The goal was to identify differences in investment management of analyzed industries and consequently defi ne relevant determinants as critical areas with the impact on performance of wood processing companies. In the results of research, special interest is focused on crucial investments with the emphasis on the preparation of investment projects.

Strategic Business Performance Management System in Wood Processing Industry in Slovakia

Measuring and managing of business performance is a complex and difficult process, which at the present time passes through signifi cant changes in theory and practice. Previously used indicators, methods and models were mainly based on fi nancial indicators and methods of financial management. The problem of proving and relatively accurately quantifying the impact of financial indicators for the overall business performance in theory and practice of management has been fairly well solved. However, to identify and quantify the impact of qualitative non-financial indicators and methods of the management on the overall performance has so far been an issue that requires further scientific research in specific conditions of Slovak wood-processing industry. Based on statistical results of our research, wood processing industry enterprises should apply the selected methods and models of strategic business performance management. By applying the selected strategic methods and models, such as Balanced Scorecard, Business Intelligence, strategic planning and controlling, innovations and others, wood processing companies in Slovakia will achieve a better performance

Effect of Marketing Orientation on Business Performance: A Study from Slovak Foodstuff Industry

Abstract In theory, marketing orientation represents established concept using a wide spectrum of approaches, methods and tools and it may be considered as a strategy for achieving sustainable competitive advantage. Although this concept has been thoroughly examined in various studies there is a research gap regarding Slovak context. The aim of this paper is to examine and evaluate the degree of marketing orientation in businesses from foodstuff industry in Slovakia and to identify relationships between their marketing orientation and business performance. We applied behavioral perspective for marketing orientation measurement using MARKOR scales as a base. Results of the research should confirm hypothesis about dependence between marketing orientation of businesses and their success on the market via chosen business performance indicators, where we assume that businesses with higher degree of marketing orientation will exhibit better financial, economic, respectively market results. These findings will help business identify beneficial elements of marketing orientation that could be implemented with the intention to improve business performance and position on the market.

Recent Trends in Human Resources Management in Selected Industry in Slovakia and the Czech Republic

Abstract The main goal of the paper is to evaluate trends in human resources management in the international environment on a selected sample of HR managers and their employees. The paper is based on extensive theoretical research and on a study of previous similar research. In order to achieve a more detailed analysis, there has been a research conducted. The research investigates the relation between the trends and gained benefits and the origin of the respondents – from Slovakia and the Czech Republic. According to the results, there exists a statistically significant difference in a small group of trends/benefits. In the rest of the benefits the results show there is no statistically significant difference in trends and benefits between employees who come from Slovakia or the Czech Republic.

Selection of Key Performance Indicators of Chosen Industry and their Application in Formation of Creditworthy Model

Abstract This paper is devoted to the issue of business performance. It is dedicated to more detailed elaboration of performance, key performance indicators, measurement and evaluation of the performance of selected industry applying Creditworthy model as well as risk factors influencing performance of businesses from given industry. Nowadays modern performance indicators are adopted as well as mathematical and statistical methods are applied in assessing business performance. In this paper this problem is solved by the application of correlation matrix constructed for a chosen indicators‘group in order to select key performance indicators. Subject for objective fulfilment was a group of businesses operating in the same Slovak industry. The most difficult point of solution was the selection of appropriate inputs for the construction of correlation matrix as well as the collecting of sufficient amount of relevant data to ensure analytically-based outputs. Benefit of this paper is formation of Creditworthy model with the application of key performance indicators and risk factors of businesses from selected industry. Creditworthy model designed in such a way allows to influence and measure the performance of given industry in terms of key performance indicators and to eliminate specific risks of businesses from given industry.