The Aspects of Managing Risks in Connection with the Internationalization of Smes from Selected Central European Countries

Martina Toulová, Marcela Tuzová and Jakub Straka
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Martina Toulová: Department of Marketing and Trade, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic
Marcela Tuzová: Department of Marketing and Trade, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic
Jakub Straka: Department of Marketing and Trade, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic
Authors registered in the RePEc Author Service: Martina Morávková ()

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2016, vol. 64, issue 5, 1775-1784

Abstract: Insufficient domestic demand and increasing competition force small and medium-sized enterprises (SMEs) to engage in internationalization process and enter to foreign markets. This process, however, carries risks that should be appropriate managed. In order to identify similarities and differences in the approach of SMEs from selected Central European countries towards managing these risks and find out whether perception of risks differ based on domestic country of the SMEs, questionnaire survey among Czech, Slovak, German, Austrian and Poland SMEs was performed in 2014. It was found that more Austrian and German SMEs, compared to Czech, Slovak and Polish SMEs, do not apply any method of risk analysis but are more focused on some form of protection in international operations. As the most common form was identified payment in advance. It was also found that Austrian and German SMEs prefer to use bank products rather that conclude long-term contracts or verify the credibility of their foreign business partners used by Czech, Slovak and Poland SMEs. Based on statistical testing, significant differences appeared in risk perception of SMEs from different countries. Especially perception of market risks, transportation risks and risk of natural disasters.

Keywords: small and medium-sized enterprises; internationalization; Central Europe; managing risks; risk perception; risks of internationalization; market risks; transportation risks (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:mup:actaun:actaun_2016064051775

DOI: 10.11118/actaun201664051775

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