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What Situations Cause Crucial Financial Decisions within Social Businesses?

Identifikátory výsledku

  • Kód výsledku v IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F26867184%3A_____%2F22%3AN0000029" target="_blank" >RIV/26867184:_____/22:N0000029 - isvavai.cz</a>

  • Nalezeny alternativní kódy

    RIV/47813059:19520/22:A0000321

  • Výsledek na webu

    <a href="https://cebr.vse.cz/pdfs/cbr/2022/03/03.pdf" target="_blank" >https://cebr.vse.cz/pdfs/cbr/2022/03/03.pdf</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.18267/j.cebr.294" target="_blank" >10.18267/j.cebr.294</a>

Alternativní jazyky

  • Jazyk výsledku

    angličtina

  • Název v původním jazyce

    What Situations Cause Crucial Financial Decisions within Social Businesses?

  • Popis výsledku v původním jazyce

    The growing uncertainty in today’s business environment has a significant influence on social business’s behaviour. Those enterprises could rely on public support in the past, but nowadays, they have to find a way to be more responsible about their social activity and be financially independent on public resources. Based on this theoretical background, the paper’s main goal was to find a set of factors that influence crucial financial decisions within a crisis. When social businesses create an optimal financial portfolio to be financially sustainable, primary research was conducted. A sample of 57 social businesses was asked about their financial strategy. The main research goal was to compare a change before and after the first wave of the Covid-19 pandemic situation in 2020. This case has shown current financial thinking and preparedness for unusual or crises. A mixed research approach was chosen due to a limited number of respondents. The overall results found that those businesses prefer to use the current strategy (42%) in crisis, and they limit investments to survive in that situation, except marketing investments (16%). Implications for Central European audience: At the theoretical level, our study shows social enterprise concepts in the Central European context, which differs somewhat from the already established definition of mainly Anglo-Saxon and American authors. At the same time, it combines knowledge about the use of financial planning in this segment. The study results show that financial planning is essential in these companies because it can achieve social goals. A discussion would be opened on how to raise awareness of the preparation of the strategy. Alternatively, how to strengthen the financial literacy of managers or representatives of these entities.

  • Název v anglickém jazyce

    What Situations Cause Crucial Financial Decisions within Social Businesses?

  • Popis výsledku anglicky

    The growing uncertainty in today’s business environment has a significant influence on social business’s behaviour. Those enterprises could rely on public support in the past, but nowadays, they have to find a way to be more responsible about their social activity and be financially independent on public resources. Based on this theoretical background, the paper’s main goal was to find a set of factors that influence crucial financial decisions within a crisis. When social businesses create an optimal financial portfolio to be financially sustainable, primary research was conducted. A sample of 57 social businesses was asked about their financial strategy. The main research goal was to compare a change before and after the first wave of the Covid-19 pandemic situation in 2020. This case has shown current financial thinking and preparedness for unusual or crises. A mixed research approach was chosen due to a limited number of respondents. The overall results found that those businesses prefer to use the current strategy (42%) in crisis, and they limit investments to survive in that situation, except marketing investments (16%). Implications for Central European audience: At the theoretical level, our study shows social enterprise concepts in the Central European context, which differs somewhat from the already established definition of mainly Anglo-Saxon and American authors. At the same time, it combines knowledge about the use of financial planning in this segment. The study results show that financial planning is essential in these companies because it can achieve social goals. A discussion would be opened on how to raise awareness of the preparation of the strategy. Alternatively, how to strengthen the financial literacy of managers or representatives of these entities.

Klasifikace

  • Druh

    J<sub>imp</sub> - Článek v periodiku v databázi Web of Science

  • CEP obor

  • OECD FORD obor

    50206 - Finance

Návaznosti výsledku

  • Projekt

  • Návaznosti

    N - Vyzkumna aktivita podporovana z neverejnych zdroju

Ostatní

  • Rok uplatnění

    2022

  • Kód důvěrnosti údajů

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Údaje specifické pro druh výsledku

  • Název periodika

    CENTRAL EUROPEAN BUSINESS REVIEW

  • ISSN

    1805-4862

  • e-ISSN

    1805-4854

  • Svazek periodika

    11

  • Číslo periodika v rámci svazku

    3

  • Stát vydavatele periodika

    CZ - Česká republika

  • Počet stran výsledku

    16

  • Strana od-do

    39-54

  • Kód UT WoS článku

    000829070700003

  • EID výsledku v databázi Scopus

    2-s2.0-85134770955