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Methodology for the Selection of Compensation Trade Tools in SMEs

Author

Listed:
  • Frantisek Milichovsky

    (Brno University of Technology)

  • Jiri Kolenak

    (Newton College)

Abstract

The main aim of this paper is to determine which factors of business tools are important in Czech companies. To find these factors, theoretical information from the area of trade tools and data from primary research (obtained via questionnaire) were used. These data are applied by a statistical evaluation of selected indicators which could help determine the significance of the indicators in the area being monitored. Activities concerning the management of company finances are also partially incorporated, as due to their close cohesion with business, they cannot be excluded from the field of turnaround management. The business tools described in the paper see excellent usage not only during times of crisis but also in periods of prosperity, when their application provides companies with unique competitive advantages as a way of increasing GDP. The results of the paper confirm the necessity for compensation tools in the business environment and provide the signifikance level of the compensation tools used. Accurate usage could create an advantage in a global market characterised by high competition.

Suggested Citation

  • Frantisek Milichovsky & Jiri Kolenak, 2014. "Methodology for the Selection of Compensation Trade Tools in SMEs," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 3, pages 213-224, September.
    • Handle: RePEc:cmn:journl:y:2014:i:3:p:213-224
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    References listed on IDEAS

    as
    1. Akbar Marvasti & David J. Smyth, 2011. "Barter and Business Cycles: Further Empirical Evidence," The American Economist, Sage Publications, vol. 56(2), pages 85-97, November.
    2. Dalia Marin & Monika Schnitzer, 2002. "Contracts in Trade and Transition: The Resurgence of Barter," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262133997, April.
    3. Barbara, CRESTI, 2003. "U.S. Domestic Barter : an Empirical Investigation," LIDAM Discussion Papers IRES 2003005, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
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