Přemysl Písař

This research is oriented to SME’s innovation activities, its management system and competitiveness based on innovations. Research is focused on causalities between innovative controlling, audit, enterprise innovation activities and the results put in context with ROA, ROE, turnover. Data for this research were collected in 317 European SMEs by researches by using questionnaire and analyzed by advanced statistical methods. The aim of this research is to identify key factors for successful innovation enterprise activities, to define weaknesses and common mistakes. Secondary aim is to design controlling process for SME’s innovation activities. The findings of this research are opening up topics for further research.

The goal of this article is to define the key factors for the development of cross-generational creative teams, the application of which can help businesses achieve maximum use of their human capital and thereby increase their innovative potential. The need to explore this issue is due not only to technical and technological development, which is fundamentally changing the content of work and the approach to work, but also due to the current lack of workers on the labor market of the Czech Republic and other EU countries. Findings from this article are based on a quantitative study on the research sample of 341 SMEs from the EU for the period 2017–2019. The data examined were obtained based on a personalized questionnaire in the SMEs. The outputs of the key factors for innovation potential of cross-generational creative teams’ linear correlation were further validated by experimental testing on a selected set of successful creative teams. During this testing in the form of in-depth semi-structured interviews, key areas of human resource management were defined in order to achieve more efficient use of human capital. It was confirmed that cross-generational creative teams have an influence on the innovative planning or financial health of a company, and four key areas of HR management were defined to increase the innovation potential of human capital: care and motivation of existing creative team members; acquisition of new creative team members; defining the competencies of creative team members; communication and digital culture.

The current hyper-competitive environment offers many great opportunities for small and medium-sized businesses (SMEs), but on the other hand, this business environment is also hazardous. SMEs are a significant economic power and employer in the European Union. Their competitiveness and long-term stability are a crucial factor for European cohesion and economic growth. The research aim is to design a strategic management controlling system that should be implemented to SMEs and be useful for their long-term future development. The study was conducted in 2017–2020 based on data from 403 SMEs. The PAPI method was used to collect data. The implications between defined variables controlling, ROA, turnover, financial analysis, and strategic management were explained, and the results obtained from an in-depth analysis were indicated. The research was concluded by a model of strategic management controlling system tested by experimental in-practice implementation on SMEs and verified. The model and the research findings are suitable for business practice and should support the long-term stability and development of SMEs.

Acknowledgment
The paper has been prepared within the project “Risk Management in Industry 4.0” (7427/2019/02 IGA VŠFS) using the objective oriented support for specific university research of the University of Finance and Administration.

Social network usage is a prerequisite for the functioning of companies and their competitiveness. The level, focus of their usage, and link with the company process are important. This research focuses on SMEs, how they use social networks, and how this affects their innovation potential. The study aims to determine the importance of social networks for SME’s competitiveness and long-term stability. To achieve this goal, 359 European SMEs were studied (2017–2019), two research questions and seven hypotheses were developed. Pearson’s correlation and stepwise regression were used, and the obtained results were verified by experimental testing. The research results showed that companies using social media as a main component of their business, are active at using modern technologies and are declaring the importance of social networks to develop innovation potential. Fastness and reliability of communication are crucial for business operations in the company. Social networks offer many opportunities and connections between strategic planning, controlling management, and performance level. All SMEs mostly use Facebook, and this does not depend on size, age or industry. The research results lead to the understanding that social networks and controlling-oriented management support SME business activities and their innovation potential and long-term stability in a hyper-competitive environment.

Acknowledgment
The paper has been prepared within the project “Risk Management in Industry 4.0” supported by the Specific University Research Funds of the University of Finance and Administration, Estonská 500, 101 00 Prague 10, Czech Republic. Funder ID: 04274644. 3. Award number: 7427/2019/02 IGA VŠFS.

Small and medium enterprises (SMEs) are a powerful economic force, significant employers, and creators of added value. In the European Union SMEs are the backbone of its economic and innovative potential, and for this reason, economic development and stability of SMEs are critical. The goal of this study is to apply modern controlling to the management of SME value growth using the tools and indicators of financial analysis. This study is based on a detailed analysis of 359 companies from the European Union in order to test 4 hypotheses. The data obtained were subjected to statistical analysis to identify the dependence between the controlling management of a company, tools of financial analysis, innovative potential, level of digitization, internal auditing, and HR communication tools used in the SME. The statistical analysis confirmed a close relationship between the studied variables and created a model for managing the company’s value growth for the study sample of SMEs. Subsequent experimental testing was used to confirm these conclusions, and other important associations were found that are important for successful management of SMEs value growth. The findings obtained are applicable in practice and can be used for a deeper analysis of the issues in question.