L21 - Business Objectives of the FirmReturn

This literature review aims to assess the evolution of performance monitoring articles in relation to the business strategy based on an overview of articles indexed in the WoS and Scopus databases. The initial dataset of articles was obtained based on carefully developed keywords. In the second phase, we restricted the selection to business and management journal articles and reviews written in English before 2019. The authors simultaneously reviewed the abstracts of all 571 articles in the third phase of the study. These were subsequently re-read and limited; thus, the final dataset for further analysis includes 157 articles published between 1983 and 2019. The most important result is that the field of business strategy and performance is not subject to trends. While in the field of business strategy the literature is still dominated by generic strategies according to Porter and the strategy typology according to Miles and Snow, in the field of performance measurement we identified the market position (sales volume, growth in sales volume, etc.) and profitability (profit margin, return on assets, etc.) as the dominant method.
Implications for Central European audience: Despite a considerable amount of work focusing on bibliographic analysis, there remains a lack of literature on the link between strategy and performance. The paper brings potential value for the Central European audience by drawing attention to the systematisation of knowledge in the field of performance articles and its trends in relation to the field of business strategy. The overview of the theoretical frameworks contributes to a better orientation of the current state of the art and creates opportunities for future research.

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.

The paper assesses the perception of clothing products’ quality using two independent samples of Czech respondents answering a questionnaire. It fills the current research gap in revealing how the quality of clothing products is currently perceived by different socio-demographic groups and whether other factors neglected previously (e.g., type of store, store’s trade name, etc.) contribute to the perceived garment quality. The results show that age plays an important role in assessing some of the parameters by which people define whether garments are quality garments. This demographic criterion also influences the intensity of quality consideration when people buy a product, but no statistically significant dependence was found for the intensity of quality consideration when people buy a clothing product. These and other papers’ results may help companies in the clothing industry, and the related sectors better comprehend how different categories of people determine garment quality.
Implications for Central European audience: Businesses active in the apparel and fashion industries may better understand the current preferences of Czech customers regarding their clothing quality perceptions. The results could also be useful for managers in other countries of the Central-European region.

The article analyzes Shared Value (CSV) implemented projects by regions, social issues, and industries that are involved in pursuing the CSV concept. Project preferences by region show South America, Central America and Caribbean, Global scope and Africa as key targets of CSV projects, followed by North America and Asia. Europe, both Western and Eastern, is at the edge of interest with only several projects implemented. Project preferences by industry clearly show that companies capitalize on their strengths and professional focus. Analyzed Shared Value projects proved simultaneous value to a wide range of corporate stakeholders by creating new products or services, redefining productivity in the value chain or enabling local cluster development. Given the strategic nature of CSV projects, top management initiative is necessary. Numerous worldwide proven Shared Value business cases could serve as inspiration for Central European leaders in creation of their future strategies. Successful CSV projects implemented in the Czech Republic are mentioned.

Multinational companies that have settled in Central and Eastern Europe (CEE) significantly contribute to the recognition of modern HRM concepts and implementation of the relevant HRM practices in the region (Lewis, 2005). To be a strategic partner, HRM managers have to possess various professional and personal competences (Orme, 2010). The aim of this paper is to analyze the main competences of HR managers and their impact on companies' performances. The research hypothesis, based on 2012-2013 CEEIRT data, is that there is a statistically significant relationship among the HR managers' competences and the performances of the MNCs' subsidiaries in Hungary, Poland, Romania, Serbia and Slovakia. The analyzed HR competences are: business knowledge, strategic contribution, personal credibility, HR services, HR information system and foreign language competences. The research analyzed the following organizational performances: profitability, service quality, rate of innovations and environmental matters.