Enhancing Cross-border Co-operation of Business Organizations based on the Investigation of Textual-and Categorical Information

Abstract

International cross-border co-operations can highly contribute to individual and even regional value-added generation. In the present work 51 Central European stakeholders with different organizational types were selected for an online survey where preference options in a form of a multiple choice questionnaire were collected on their interests for a possible future co-operation and additional textual data on their general descriptions, strengths, focuses, goals etc. Based on the gathered data clustering of the partakers were performed with the K-modes algorithm for the categorical variables resulted of the questionnaire. Additionally Latent Dirichlet Allocation was used for the textual information in order to present an alternative technique for decision makers to the grouping of business organisations. Such tools can aid more effective and long-term business network formations and contribute to business sustainability and resilience that is of paramount importance in a globalized market framework. This globalized, turbulent environment poses risks that are hardly manageable on an individual level and therefore collaborations and augmentation of business activities gain more and more importance and focus from the side of policy makers and scientific community as well.