Perception of Profound Knowledge in SMEs in Slovakia

Abstract

The system of profound knowledge is based on the principle that each organization is composed of a system of interrelated processes, and the people who make up the system’s components. The main objective of this paper is to introduce and clarify the known system of profound knowledge along with its four basic sections, and show, through the analysis of the business environment, that the implementation of this system in Slovak SMEs enables them to operate more effectively, as well as to achieve satisfaction of their employees and customers.  Based on the analysis of using the system of profound knowledge in Slovak SMEs, the authors want to demonstrate to what extent it is possible to apply it in Slovak SMEs in order to maximize the benefits and minimize the potential risks of the system, and suggest several options of its implementation