Domů

Severe consequences of the global financial crisis resulted in re-thinking the risk management processes and approaches. OECD (2009), BIS (2008), FSA (2008) and IIF (2007) suggested that corporate risks should be “high on the agenda” of every organization, highlighting the need for a comprehensive (enterprise-wide) risk management framework. What has been realized in the aftermath of the global financial crisis is that a failure to transmit information about risk exposures can be attributed to the traditional silo-based risk management (TRM) (OECD, 2009).

Every economy aspires to enlarge the share of high-tech industries in its industrial structure, considering this share as one of the main determinants of country’s economic development. Hence, the induction of high and medium-high technology industries through R&D support, stimulation of innovation activities and higher quality may help economies to avoid getting trapped in the low-tech specialization during the long term.

Despite voluminous literature on the entrepreneurial behavior, studies examining Czech specifics are very rare – specified below. Most of studies come from US and relatively few from Europe, namely Netherlands and Austria.

In the past, companies attempted to address customers using marketing communication tools such as television ads and public relations. A major disadvantage of these tools is the passive way in which customers receive information on products and brands (Hennig- Thurau et al., 2010; Libai et al., 2010). In recent years there has been steady growth in the share of two-way communication, which has resulted in a revolutionary change in the role of the customer from passive to active. This change was brought about in particular by the internet boom and the emergence of social media (Ungerman, 2016).

The success of 21st century retailers depends increasingly on their online presence and the development of interesting and attractive communication and presentation of offers to internauts who spend a lot of time on social media interacting with people, catching up on the latest news, commenting on various events and situations and sharing other people’s posts (Young, 2015; Dabija et al., 2018).