Risk management at Slovak enterprises: an empirical study

Economic Annals-ХХI: Volume 174, Issue 11-12, Pages: 58-62

Citation information:
Strelcova, S., Janasova, D., & Simak, L. (2018). Risk management at Slovak enterprises: an empirical study. Economic Annals-XXI, 174(11-12), 58-62. doi: https://doi.org/10.21003/ea.V174-09

Stanislava Strelcova
PhD (Economics),
Associate Professor,
Vice-head of Department,
Faculty of Security Management,
Department of Crisis Management,
University of Zilina
32 May 1st Str., Zilina, 010 26, Slovakia
stanislava.strelcova@fbi.uniza.sk
ORCID ID: https://orcid.org/0000-0002-4497-4013

Denisa Janasova
PhD (Civil Security),
Test Analyst in the IT Company
Vosmikovych 1002/32, 180 00 Praha 8, Czech Republic
denisa.janasova@gmail.com
ORCID ID: https://orcid.org/0000-0003-4620-0000

Ladislav Simak
PhD (Military Science),
Professor,
Head of Department,
Faculty of Security Management,
Department of Crisis Management,
University of Zilina
32 May 1st Str., Zilina, 010 26, Slovakia
ladislav.simak@fbi.uniza.sk
ORCID ID: https://orcid.org/0000-0001-9216-9134

Risk management at Slovak enterprises: an empirical study

Abstract. Risk management is a process aimed at assessing and managing risks with the goal to minimise losses and maximise benefits. The analysis and evaluation of the risks are decisive in risk assessment according to the risk management framework. The purpose of this article is to assess the current state of implementing the process of analysing and assessing risks related to small and medium-sized enterprises (SMEs) and to define the main problems outlined in the questionnaire research carried out in 2017 in which 485 SMEs working in Slovakia took part. The questionnaire contained questions about the implementation of risk analysis and risk assessment in SMEs. To conduct the research, the authors used basic methods of statistical assessment, namely simple classification of statistics and calculations of relative acaccountability. Based on the results of the given research, it can be concluded that the SMEs pay the least attention to the analysis and evaluation of risks. In our opinion, this is due to the failure to apply exact methods which seem to be complicated in terms their practical use.

Keywords: Risk; Risk Management; Analysis; Evaluation; Enterprise; Small and Medium-sized Enterprises

JEL Classification: M20; L20; L11; D81

Acknowledgements: This article has been prepared with support of the grant project VEGA 1/0560/16 «Risk Management in SMEs in the Slovak Republic – Prevention of Corporate Crisis» and grant project ITMS 26220120050 «Centre of excellence for systems and services of intelligent transport II».

DOI: https://doi.org/10.21003/ea.V174-09

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Received 19.10.2018