M13 - New Firms; StartupsReturn

This paper aims to evaluate the level of the strategic part of CRM in SMEs in the Czech Republic. In the empirical part, quantitative primary research was carried out. The questionnaire survey was attended by 1 067 respondents. To evaluate the primary research, the PDCA method, which is used to evaluate process quality, was modified. This paper provides a different perspective on CRM level assessment. Based on a literature search, a research question and hypotheses dealing with the level of strategic activities were formulated. The communication strategy reached the highest level in terms of implementation. The hypotheses examined the relationship not only between the level of CRM strategy determination, the perception of the CRM importance and the increase in the number of loyal customers, but also between the size of SMEs and selected strategic activities. For most hypotheses, this relationship was confirmed, even if there is a differentiated degree of tightness.

The formation of university-spin off is seen as a potential tool for the transfer of knowledge and technology. University spin-off firms are able to transform the knowledge accumulated in research into its practical application and commercialization. Despite this fact, the formation of university spin-off is still rather rare phenomenon in many European countries. In our paper, we provide several examples of good practice in central European countries. Moreover, the paper aims to examine factors that could potentially affect the formation of university spin-offs in European countries. We applied logit and probit regression analysis based on empirical data for 2465 universities in Europe retrieved from European Tertiary Education Register database. Our results suggest that those universities, which are neither focused on many different fields of study, nor highly specialized are less often involved in creating the university spin-off. Furthermore, intensity of PhD study, the share of tuition fees as well as a number of foreign students appears to be other factors affecting the probability of forming a university spin-off. Our results also bring several policy implications for tertiary education policy, which are summarized in the conclusion.

Primal comprehension of risk capital has been enlarged gradually in the course of time. It is approved by significant amount of funds in Europe and in the USA, which was explicitly specialized for investing in initial development. They diversified their investments and enlarged the subject of their activity to all sphere of risk investments, or focused in development financing only. Change of concept of a meaning risk capital symbolized diversification market of risk capital into two parts: market of classic risk capital and market of development capital. Risk capital is investment in equity of enterprise, which is without history. Objective of capital development is financing of quick growth and implementation of innovative intentions of enterprise with history and without sufficiency of capital. Article presents a different opinion on state interventions at the market of private equity. Significant attention is devoted to development premises of private equity formal market in the middle and east Europe. Next development of private equity market in the countries of a respective region depends on measure of impact of global recession and on development assumptions of effective functioning of market. Before crisis sizeable volume of accumulated capital waits for investing, and therefore we can't expect to stubbing recession of risk capital market in the states of analyzing region now.