Shifting the controller paradigm: Some reflections

Small and medium enterprises (SMEs) are a powerful economic force, significant employers, and creators of added value. In the European Union SMEs are the backbone of its economic and innovative potential, and for this reason, economic development and stability of SMEs are critical. The goal of this study is to apply modern controlling to the management of SME value growth using the tools and indicators of financial analysis. This study is based on a detailed analysis of 359 companies from the European Union in order to test 4 hypotheses. The data obtained were subjected to statistical analysis to identify the dependence between the controlling management of a company, tools of financial analysis, innovative potential, level of digitization, internal auditing, and HR communication tools used in the SME. The statistical analysis confirmed a close relationship between the studied variables and created a model for managing the company’s value growth for the study sample of SMEs. Subsequent experimental testing was used to confirm these conclusions, and other important associations were found that are important for successful management of SMEs value growth. The findings obtained are applicable in practice and can be used for a deeper analysis of the issues in question.

Social network usage is a prerequisite for the functioning of companies and their competitiveness. The level, focus of their usage, and link with the company process are important. This research focuses on SMEs, how they use social networks, and how this affects their innovation potential. The study aims to determine the importance of social networks for SME’s competitiveness and long-term stability. To achieve this goal, 359 European SMEs were studied (2017–2019), two research questions and seven hypotheses were developed. Pearson’s correlation and stepwise regression were used, and the obtained results were verified by experimental testing. The research results showed that companies using social media as a main component of their business, are active at using modern technologies and are declaring the importance of social networks to develop innovation potential. Fastness and reliability of communication are crucial for business operations in the company. Social networks offer many opportunities and connections between strategic planning, controlling management, and performance level. All SMEs mostly use Facebook, and this does not depend on size, age or industry. The research results lead to the understanding that social networks and controlling-oriented management support SME business activities and their innovation potential and long-term stability in a hyper-competitive environment.

Acknowledgment
The paper has been prepared within the project “Risk Management in Industry 4.0” supported by the Specific University Research Funds of the University of Finance and Administration, Estonská 500, 101 00 Prague 10, Czech Republic. Funder ID: 04274644. 3. Award number: 7427/2019/02 IGA VŠFS.

The ways of education development are changing, which is largely determined by the introduction of digital technologies and the desire to improve the efficiency of management of educational processes at universities. Therefore, this study aimed to identify the challenges and opportunities in universities related to the use of digital technologies (social media tools, digital online platforms, digital learning platforms) in higher education institutions in Kazakhstan. A sample included respondents (N = 69) from 16 educational institutions in Kazakhstan that combined teaching (conducting training courses or working with students) and administrative management (management or planning of the educational process). The data were obtained using an offline questionnaire and processed using SWOT methodology. Representatives from 16 public and private universities responded to the questionnaire: the rector (2%) and two vice-rectors (3%), deans of faculties (23%), directors, and heads of various departments of universities (71%) were interviewed (managers are engaged in teaching). As a result, six thematic outcomes demonstrated the opportunities for technology application in education: enhancing management quality, motivation, access to electronic resources and materials, transparency and objectivity in grading, the possibility of implementing distance learning, and simplification of routine tasks. It is also noteworthy to mention five thematic outcomes as challenges, which encompassed issues with security, technical errors, reduced communication, dependency, and complexities in grading.

Acknowledgments
The study was carried out within the framework of grant funding by the Science Committee of the Ministry of Science and Higher Education of the Republic of Kazakhstan “Modernization of the system of distribution relations and reduction of income inequality of the population of the Republic of Kazakhstan” BR21882165.