The role of corporate culture in economic development of small and medium-sized enterprises

Achieving economic development of the enterprise is enabled by the efficient use of resources, efficient processes and, last but not least, a suitable corporate culture. Under the influence of a dynamically changing business environment, corporate culture is gaining in importance and justification....

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Autores principales:	Silvia Lorincová, Andrej Miklošík, Miloš Hitka
Formato:	article
Lenguaje:	EN
Publicado:	Vilnius Gediminas Technical University 2021
Materias:	economic development small and medium enterprises corporate culture strategy in corporate culture the methodology of Cameron and Quinn Tukey’s HSD test Economic growth, development, planning HD72-88 Business HF5001-6182
Acceso en línea:	https://doaj.org/article/bfa40f7287234986845d2e1eea06ca77
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spelling	oai:doaj.org-article:bfa40f7287234986845d2e1eea06ca772021-12-02T16:03:58ZThe role of corporate culture in economic development of small and medium-sized enterprises10.3846/tede.2021.159832029-49132029-4921https://doaj.org/article/bfa40f7287234986845d2e1eea06ca772021-12-01T00:00:00Zhttps://bjrbe.vgtu.lt/index.php/TEDE/article/view/15983https://doaj.org/toc/2029-4913https://doaj.org/toc/2029-4921 Achieving economic development of the enterprise is enabled by the efficient use of resources, efficient processes and, last but not least, a suitable corporate culture. Under the influence of a dynamically changing business environment, corporate culture is gaining in importance and justification. It needs to be monitored and evaluated together with “hard” business indicators. The research explores the key values that should be applied in corporate culture at the strategic level to support the economic development of small and medium-sized enterprises. The differences between small and medium-sized enterprises operating in the industrial sector in Slovakia are defined. As managers have a direct impact on the creation of corporate culture, their preferences regarding corporate culture are examined, using the methodology of Cameron and Quinn. The results of the research prove the preference for applying key values typical for a clan culture. Following the results, it is recommended managers to focus on supporting a clan culture that develops employees. It is the employees who create and build values, bring new, innovative ideas, and with their abilities and skills influence the performance, competitive advantage, economic development, and success of the entire enterprise as well as economic development of small and medium-sized enterprises. First published online 02 December 2021 Silvia LorincováAndrej MiklošíkMiloš HitkaVilnius Gediminas Technical Universityarticleeconomic developmentsmall and medium enterprisescorporate culturestrategy in corporate culturethe methodology of Cameron and QuinnTukey’s HSD testEconomic growth, development, planningHD72-88BusinessHF5001-6182ENTechnological and Economic Development of Economy (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	economic development small and medium enterprises corporate culture strategy in corporate culture the methodology of Cameron and Quinn Tukey’s HSD test Economic growth, development, planning HD72-88 Business HF5001-6182
spellingShingle	economic development small and medium enterprises corporate culture strategy in corporate culture the methodology of Cameron and Quinn Tukey’s HSD test Economic growth, development, planning HD72-88 Business HF5001-6182 Silvia Lorincová Andrej Miklošík Miloš Hitka The role of corporate culture in economic development of small and medium-sized enterprises
description	Achieving economic development of the enterprise is enabled by the efficient use of resources, efficient processes and, last but not least, a suitable corporate culture. Under the influence of a dynamically changing business environment, corporate culture is gaining in importance and justification. It needs to be monitored and evaluated together with “hard” business indicators. The research explores the key values that should be applied in corporate culture at the strategic level to support the economic development of small and medium-sized enterprises. The differences between small and medium-sized enterprises operating in the industrial sector in Slovakia are defined. As managers have a direct impact on the creation of corporate culture, their preferences regarding corporate culture are examined, using the methodology of Cameron and Quinn. The results of the research prove the preference for applying key values typical for a clan culture. Following the results, it is recommended managers to focus on supporting a clan culture that develops employees. It is the employees who create and build values, bring new, innovative ideas, and with their abilities and skills influence the performance, competitive advantage, economic development, and success of the entire enterprise as well as economic development of small and medium-sized enterprises. First published online 02 December 2021
format	article
author	Silvia Lorincová Andrej Miklošík Miloš Hitka
author_facet	Silvia Lorincová Andrej Miklošík Miloš Hitka
author_sort	Silvia Lorincová
title	The role of corporate culture in economic development of small and medium-sized enterprises
title_short	The role of corporate culture in economic development of small and medium-sized enterprises
title_full	The role of corporate culture in economic development of small and medium-sized enterprises
title_fullStr	The role of corporate culture in economic development of small and medium-sized enterprises
title_full_unstemmed	The role of corporate culture in economic development of small and medium-sized enterprises
title_sort	role of corporate culture in economic development of small and medium-sized enterprises
publisher	Vilnius Gediminas Technical University
publishDate	2021
url	https://doaj.org/article/bfa40f7287234986845d2e1eea06ca77
work_keys_str_mv	AT silvialorincova theroleofcorporatecultureineconomicdevelopmentofsmallandmediumsizedenterprises AT andrejmiklosik theroleofcorporatecultureineconomicdevelopmentofsmallandmediumsizedenterprises AT miloshitka theroleofcorporatecultureineconomicdevelopmentofsmallandmediumsizedenterprises AT silvialorincova roleofcorporatecultureineconomicdevelopmentofsmallandmediumsizedenterprises AT andrejmiklosik roleofcorporatecultureineconomicdevelopmentofsmallandmediumsizedenterprises AT miloshitka roleofcorporatecultureineconomicdevelopmentofsmallandmediumsizedenterprises
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The role of corporate culture in economic development of small and medium-sized enterprises

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