2021
Auditing and Controlling as a Tool for SME Marketing Risk Management
KUPEC, Václav and Přemysl PÍSAŘBasic information
Original name
Auditing and Controlling as a Tool for SME Marketing Risk Management
Name in Czech
Audit a kontroling jako nástroje řízení marketingových rizik malých a středních podniků
Authors
KUPEC, Václav (203 Czech Republic, guarantor, belonging to the institution) and Přemysl PÍSAŘ (203 Czech Republic, belonging to the institution)
Edition
Marketing and Management of Innovations, Sumy (Ukraine), Sumy State University, 2021, 2227-6718
Other information
Language
English
Type of outcome
Article in a journal
Field of Study
50204 Business and management
Country of publisher
Ukraine
Confidentiality degree
is not subject to a state or trade secret
References:
RIV identification code
RIV/04274644:_____/21:#0000742
Organization unit
University of Finance and Administration
UT WoS
000659279400017
Keywords (in Czech)
audit; kontroling; marketing; risk management; SME
Keywords in English
auditing; controlling; marketing; risk management; SME
Tags
Tags
International impact, Reviewed
Changed: 25/2/2022 08:01, Bc. Jan Peterec
V originále
The current hyper-competitive environment, rapid marketing tools, and modern techniques provide many opportunities for small and medium-sized businesses. Such opportunities could bring much in the way of rewards both for the individual companies and the wider economy. However, there are many threats associated with these business environments which cannot be overlooked. Small and medium-sized businesses are a significant stabilizing economic power within the European Union. Therefore, it is not surprising that small and medium-sized businesses competitiveness and their long-term stability are vital factors for European cohesion and development. This research aims to analyze risk management within small and medium-sized businesses, identify critical risk factors, and develop risk management, which could be applied to small and medium-sized businesses. The authors analyzed risk management's consequences and explained the variables as follows: ROA, Auditing, Controlling Management, Marketing, and Corporate Culture. Based on the research findings, the goal was to increase their interaction effectiveness, focusing on small and medium-sized businesses long-term stability and competitiveness. For achieving these aims, the paper provides two research questions and designs three hypotheses. This research was conducted from 2017 to 2020 on sample n = 432 EU small and medium-sized businesses. The reached data were analyzed by statistical method and experimental «in practice» testing. Based on the result and its experimental testing, a marketing risk management model was designed, tested, and verified using practical methods. This model could be used for the identification and avoidance of potential risks when developing a marketing strategy. The findings reached should be used to advance research and similarly for practical use within the business sphere.