- Small steps to make Slovakia better
- Next level of corporate sustainability
- Life within the planetary boundaries
- Diversity and inclusion: where do we stand?
- ESG as a business parameter
- A closer look at sustainable strategies
- Bratislava on the road to being a diverse city
- Making charity accessible
- Map of Social Innovators
- Teaching how to catch fish
- New legislation for businesses
- Trust: Why it matters the most
- About the Future
- State-supported rental housing
- Preventive restructuring in practice
- The Energy Price Shock
- Words vs. deeds: finding the balance
- Responsible business in turbulent times
- Complexity at its peak
Pillars of Good Society
I was recently asked whether legal certainties exist in Slovakia and
whether predictability works in business. The predictability of a result
will always be questionable; however, what should be predictable is the
process of arriving at that result. And that is what I often miss in
this country – a predictable process.
Corporate sustainability, ESG and sustainable development are buzzwords which have already been well-known for some decades now. But are they really already reflected in the landscape? The momentum to integrate ESG into the strategies and operations of Slovak companies is yet to come.
An unprecedented crisis with unprecedented consequences of nowadays exposes societies across the world to acute insecurities inter-alia in the field of energy, food as well as social well-being. Environmental governance has not been an exemption. Enhancing the sustainable path that leaves no one behind therefore remains of a critical importance for the health of populations and the planet itself.
At the Pontis Foundation, we have been running the Slovak Diversity Charter since 2017, giving local employers the opportunity to acquire practical inspiration in specific D&I topics. In August 2022, thanks to the Erasmus+ programme, I had a chance to exchange best practices, experiences and ideas with the Diversity Charters in Estonia and Finland. In what aspects does the situation in Slovakia differ from these countries, and what do they have in common?
ESG is changing from a purely reputational factor to a complex business parameter. My colleagues and I at Grant Thornton estimate that ESG may become a significant business moment affecting every company within five years. That means ESG is an opportunity for “early adopters” to get ahead of the competition.
We all face challenges from the world around us and want to act to decrease our negative impact on the environment as individuals. We may perceive these impacts on a global scale as large movements, through media information about global warming, deforestation, eco-degradation, etc. But we also feel the local impacts such as local city pollution, excess garbage, noise pollution, insufficient infrastructure and other tangible issues.
20 years ago, in June 2002, there were 29 317 foreign-born people with various permits residing in Slovakia1. In June 2012, there were 68 732 foreigners living in Slovakia.2 In just ten years’ time, the increase of foreign-born people living in Slovakia was almost fourfold, to the current figure of 255 1103.
Almost a quarter of a million donors have already provided almost 18 million euros to people in need and various NGOs through the LudiaLudom.sk donation platform. In eleven years of operation, this project has changed the lives of tens of thousands of people for the better, whether they were struggling with various diseases, health or social disadvantages.
Social innovation, like any innovation, has multiple phases, and the business environment plays a role in each of them. In Slovakia, the success of social innovation originating from the non-profit environment would often be impossible without support from the business sector. This applies to both the “early” phase of creating a social innovation or an already matured, proven innovation in the disseminating stage.
The term social entrepreneurship has first been coined by the US entrepreneur Bill Drayton who used this term in the 1980s. The ideology supports practical ideas that solve social, cultural or environmental issues through a business enterprise, and it seeks social impact rather than business profit.
The following text presents a brief overview of legislative changes in the tax and payroll area which are most likely to influence your business. Experts from Crowe choose the most relevant legislation which has recently come to force or is likely to be adopted in the near future.
There are more and more books about leadership. Why are there so few “real” leaders we respect, listen to, and follow? Has something gone wrong with leadership development? Well, the answer is yes, and no. Each new book about leadership has brought new ideas, tools, “how to” recommendations and some become bandwagons which many want to jump on.
As Umberto Veronesi, luminary Italian professor of oncology, who died six years ago at 90 put it: “Ignorance and lack of awareness of the good and evil can no longer constitute an alibi for human beings of the third millennium. We can’t do without the good and the life. The longest and best possible”.
State-supported rental housing is supposed to complement the social housing policy. The multi-million project, which will not burden public finances, should create a sustainable concept of affordable housing.
The concept of restructuring is associated with the process of recovering the company, with the aim that the company survives and the creditors of the company, although partially satisfied, benefit from trading with the “saved” debtor. The restructuring according to insolvency act no. 7/2005 Coll. was used minimally after the Lex Váhostav amendment.
Milton Friedman used to say that inflation is always and everywhere a monetary phenomenon. The economy, however, has a nasty habit of proving former greats wrong and Mr. Friedman is no exception. The current bout of inflation in Europe is almost exclusively driven by the energy price shock. Because the cause of inflation is different, the solutions will have to be different as well.
The topic of ESG is gaining prominence in the Slovak business environment. Businesses are beginning to understand that this is not a short-term fad, but something which is likely to shape their future in the long run and requires dedication, resources and commitment. Frédérique Halászová of Seesame was kind enough to share her thoughts on how to approach ESG and how to communicate it.
Responsible business conduct is increasingly acknowledged by the customers. We spoke with Henrich Krejčí, a Member of the Board of Directors of SPP, about how the leader of the energy market in Slovakia perceives responsible business.
In 1974, Hungarian sculptor and professor of architecture Ernő Rubik
introduced his invention, which has become one of the most popular
puzzles ever created. As the philosopher Steve Patterson puts it, the
Rubik’s cube “is perceived as very simple – it only has six sides and
six colors.” But, as he adds: ”It is the embodiment of paradoxes. In a
very short time it becomes incredibly complex.”