Central European Business Review 2023, 12(3):103-122 | DOI: 10.18267/j.cebr.328

Impacts of Implemented Changes on Business Performance of Slovak Enterprises

Andrea Sujová ORCID...1, Ľubica Simanová ORCID...2
1 Technical University in Zvolen, Faculty of Wood Sciences and Technology, Department of Economics, Management and Business, Zvolen, Slovakia, andrea.sujova@tuzvo.sk
2 Technical University in Zvolen, Faculty of Wood Sciences and Technology, Department of Economics, Management and Business, Zvolen, Slovakia, lubica.simanova@tuzvo.sk

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.

Keywords: Change management; business performance; return on equity
JEL classification: L16, L21, P47

Received: August 15, 2022; Revised: October 10, 2022; Accepted: November 11, 2022; Prepublished online: January 13, 2023; Published: July 19, 2023  Show citation

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Sujová, A., & Simanová, Ľ. (2023). Impacts of Implemented Changes on Business Performance of Slovak Enterprises. Central European Business Review, 12(3), 103-122. doi: 10.18267/j.cebr.328
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