Small and medium enterprises (SMEs) are vital to the economic development of emerging economies, significantly contributing to employment, innovation, and GDP growth. This study investigates the influence of market competition on SME performance in emerging economies, specifically examining the moderating role of process innovation. Using a sample of 365 SMEs in the western region of Ghana, the research employed a convenience sampling technique to gather data. The analysis utilized partial least square structural equation modeling (PLS-SEM) to explore the relationships between market competition, process innovation, and SME performance. The findings revealed that three direct hypotheses were supported, indicating a positive relationship between market competition and SME performance, while the moderated hypotheses were not supported. These insights provide valuable implications for SME owners, managers, and policymakers.

The article aims to compare important management factors between SMEs in the service sector and SMEs in other entrepreneurship sectors. The study was realized in the Czech Republic and the Slovak republic over SMEs in the service sector and other sectors in 2019-2020. The data were collected from the owners or top-level managers; the total sample used in the study was 822 SMEs. The questionnaire was constructed in an online version and was fulfilled by 240 SMEs in the service sector and 582 other companies in the Czech or Slovak republic. The research hypotheses were evaluated by basic statistics tools: contingency tables, Z-score, and Chi-square test. The results showed that there are significant differences in the agreed attitudes to the statement: "I manage the company for more than 8 hours a day" between the Czech (62%) and Slovak (71%) respondents in the service business sector. Neither nationality nor the business sector is essential determinants in the perception of human capital as the most critical element in the company (8 out of 10 respondents) and the fact that the owner (manager) of the company should regularly evaluate the performance of its subordinates and motivate them to innovate in work processes. The results are interesting for the entrepreneurs themselves and for entities and organizations that help SMEs' business activities in selected countries, respectively, for economic policymakers.

The focus of the present paper is to identify and defines the important factors of strategic management in SMEs with a specific focus on the service sector and to compare its current situation in the Czech Republic and Slovak republic firms. To shape the study, survey-based research planned and conducted in the Czech Republic and Slovak republic over SMEs in the service sector. The data were collected from the owners or top-level managers, the total sample used in the study was 822, 454 respondents from the Czech firms and 368 firms from the Slovak republic. The study employs basic statistics tools, percentages and mean values, used Z-score to compare the respondents in the Czech Republic and Slovak republic. The major findings of the study reveal that majority of the firms in both the countries use strategic management as an integral part of corporate governance and believe that strategic management usage improves the competitiveness of the firms and its stability in domestic and foreign markets. Another interesting finding reveals that the business sector is not a statistically significant factor in evaluating the sources of strategic risk, found from the firms of both countries. The paper adds to the existing literature of SMEs, investigated the use of strategic management tools for their sustainability and competitiveness. As the key aspects of strategic management are much used in large size organization but less explored in the smaller segment. The outcome of the study can help to understand the SMEs’ attitude towards strategic management usage. It is very useful for long term survival, stability, and expansion, as both countries’ economy is heavily depending on the SMEs.

The aim of the paper is to assess the impact of the length of entrepreneurship on the perception of the most important business risks in Slovakia and the Visegrad Group of Countries (V4 countries). The empirical research was conducted in 2019-2020. It was focused on assessing the state of enterprise risk management (ERM) application. The research file contained 422 online questionnaires completed by owners and managers of enterprises (OMEs). The results of this case study were compared with the results of similar studies performed in the V4 countries in 2017-2018. In total, 1,781 OMEs participated in the surveys mentioned. The following statistical methods were used to assess the data: ANOVA, Bartlett’s test, Agostini test, good fit test, and Grubbs test. The overall results of the empirical research highlight the significance and importance of the assessment of business risks in the V4 countries. The results in Slovakia in 2019-2020 and the research results in the V4 countries in 2017-2018 show that OMEs still consider market and economic risks to be most important in their business. Market and economic risks are related to sources that exert the most negative influence on enterprise success. The results are valuable for entrepreneurs, enterprise managers and institutions that provide comprehensive entrepreneurship support in the V4 countries. The overall results are significant at the regional, national, and international levels of the V4 countries and have the ability to strengthen the competitiveness of entrepreneurs within the EU common market.

The aim of the article is to compare the attitudes to business risks and business failure among entrepreneurs that have experience with bankruptcy and entrepreneurs that do not have experience with bankruptcy in the business environment of small and medium-sized enterprises. The main objective of the article is to evaluate business risks: market, economic, financial, strategic, personnel, legal, and operational risk; and statements about the experience with business failure. Questionnaires of 454 small and medium-sized enterprises were collected and prepared for evaluation in 2020. Statistical hypotheses were rejected through the statistical method Z- test. The results showed interesting findings. The most important business risks are the market, financial, and personnel risk according to entrepreneurs. Entrepreneurs without the experience of business failure have more positive attitudes (66.7%), and there is no risk of bankruptcy to their company for 5 years than entrepreneurs with experience of business failure (45.2%). The next finding is that entrepreneurs without the experience of business failure have more positive attitudes (60.6%) to the rate of the market risk (lack of sales for my company) as adequate than entrepreneurs with experience with business failure (38.4%). Also, it was shown that entrepreneurs without experience with business failure have more positive attitudes (59.8%) to the error rate of employees, which is low and has no negative impact on my (our) business than entrepreneurs with experience of business failure (53.4%).

Behavioral risk management is an increasingly important consideration in investment strategies, as research has shown that investor psychology can significantly impact portfolio performance. This study examines how psychological variables influence investing choices and the effects that these actions have on risk mitigation and overall investment performance. The primary respondents for this study were the employees of Takoradi Technical University. Partial Least Square Structural Modeling was adopted for the data processing, analysis, and testing of the study’s hypotheses. The study’s findings, which were based on a carefully chosen sample of 348 investors, showed that investigating behavioral risk management in investment strategies is an effective method for thoroughly comprehending and utilizing investors’ psychology to maximize risk management procedures and enhance investment results in dynamic financial markets. Seven hypotheses were deemed insignificant, and five were considered significant. This study is limited by its exclusive focus on only one technical university. This study augmented the growing corpus of research on risk management in investment strategies.