The new challenges that will currently affect the existence and sustainability of businesses stem from the dramatic changes that come from the fourth industrial revolution. Based on the concept of intellectual capital management as a resource-based strategic management approach, which leads to the management of structural, human, and relational capital, sustainable human resource management underlines the involvement of partnerships and external relations in learning and personal development processes. Industry 4.0 expects major changes in human resource management and processes such as education. Organizations will benefit from the new knowledge in the near future that will need to be brought into the internal environment of the organization constantly. However, this will require cooperation with the external environment, and the resulting new education opportunities built on cooperation with external partners, organizations, and educational institutions. Innovations as essential factors in adapting to major changes in the environment will be key in all organizational processes, including educational. This paper focuses on comparing highly innovative countries and less innovative countries in Central Europe, analyzing 1482 businesses by looking at differences in attitude towards employee education and individual forms of employee education. The main statistically significant difference is in the strategic approach to employee education and development and the set-up between innovative countries and moderate innovators.

Radical changes resulting from the Fourth Industrial Revolution strongly affect industrialized European countries. In particular, due to the new technologies that are characteristic of Industry 4.0, it will be essential for companies to make the necessary changes and achieve competitiveness through the implementation of these technologies. In order for companies to be able to make radical changes and innovations, they need to secure all the supporting areas in their organization. This research paper is focused on comparison of companies from Slovakia, Czech Republic, Austria, Germany and Switzerland in the context of readiness for Industry 4.0. This research was part of a research project, while data were collected in the period of 2015–2016. We have analysed companies from selected countries based on 7 areas which are closely interconnected with the business transformation and technology transformation coming from Industry 4.0. The main analysed questions focused on areas such as employee education and training, organizational culture, strategy, or organizational processes, that will be most affected by radical changes in the environment. Research has highlighted the differences between countries as a result of long-standing cultural differences, but at the same time identified the unified influence of the ongoing global debate on the need for technological innovation. With Slovak and Czech companies being below stronger innovators in the maturity of education systems, we strongly advise considering partnering in education which can bring valuable information to businesses that want to take on the wave of innovation.

This paper deals with the topic of entrepreneurship, especially in terms of approach and decision-making of young people studying business and management at university if to become an entrepreneur. An interest to start own business might be influenced by many factors. Some factors are general and related to the overall situation in the economy, to business conditions and preconditions for success in business. On the other hand, if we look at younger generation, students, some factors might be very specifically related to this age group. We as university teachers are mostly interested in questions of education and training of young people in business and entrepreneurship. If the main purpose of our research was to determine the current students interested in business and especially their orientation in how to do business, so we channeled our research on a group of students from faculties dealing with the development of the two fields of study. Our paper shows the results of our study. In the research we used questionnaires on 126 respondents. These respondents were students of universities in bachelor and master studies in Slovak Republic. Based on the evaluation and results of our research, we summarize the main findings and preferences of students in terms of starting a business

There is still a considerable interest in the topic of business performance, both in scientific community as well as in managerial praxis. Especially, the area of performance measurement system (PMS) and its implementation is forming a considerable scope for improvement. However, the research of PMS implementation in small and medium-sized enterprises (SMEs) have been underestimated. Despite the significant contribution of SMEs to economic growth, employment share or predominance of SMEs over large companies, a very small amount of theoretical and empirical researches has been carried out focusing on implementation of PMS in SMEs. This paper is addressing the readiness and successfulness of SMEs in PMS implementation. The aim of our research was to analyze the process of PMS implementation in SMEs and to identify factors that influence the success and satisfaction with implemented PMS and to identify problematic factors that cause failure, dissatisfaction and create limits to PMS application. Sample of our research consisted of 336 SMEs operating in Slovakia of various ages, sizes, and different approach to performance measurement. Based on results of our research, we created suggestions and a set of the key success factors to each phase of PMS implementation process that respect the specifics and nature of SMEs. Within each phase, we found evidence that several factors significantly raise the potential of successfulness of PMS implementation, and others, in contrary, are contributing to the unsuccessfulness.

Business process management (BPM) as a systematic managerial approach enables organization's workflow to be more effective, more efficient and more capable to adapt to an ever-changing environment. BPM attempts to improve processes continuously with consideration of customer's needs and requirements. The concept of BPM is not new, however many companies are still struggling with the implementation of BPM and with application of concept and methods based on process approach. The article presents findings of our research on current state of implementation and application of BPM in enterprises operating in Slovak Republic. Our study was focused on several aspects related to BPM such as examination of the reasons why managers decide to implement BPM in their businesses, the level of process mapping, the level of usage of concept and methods of BPM as well as the detection of limitations and barriers of process management implementation and application