Disparities in the Implementation of Risk Management in the SMEs.

This article aims to determine the disparities between SMEs in management and risk management depending on the type of management, age, and size of SMEs in the business environment of Slovakia. The case study was conducted in 2019/2020 on a sample of 362 owners and top managers of SMEs. The hypotheses were verified using statistical methods—the Pearson chi-squared test and the Z-test. The results show that SMEs are more involved in risk management than microenterprises. Process-driven SMEs largely perceive market risk. Medium-sized enterprises perceive personnel risk more intensely than microenterprises and small enterprises. Not even one out of every five owners or top managers can manage risks, and more than 15% of SMEs do not conduct any risk management activities. Financial reserves and insurance are the most used risk reduction measures in SMEs. The purpose of the survey is to strengthen the resilience of SMEs and to find out the causes of the weakening of resilience concerning the investigated risk factors. The creation of integrated management systems presupposes the inclusion of the risk management system among other management systems. By implementing risk management, it is possible to increase the efficiency of management systems. [ABSTRACT FROM AUTHOR]