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• Can the local government in Hungary be the appropriate local level framework for environmental sustainability?

  32-45

  László Fodor

  Views:

  287

  During the search for the framework for environmental (respectively social and economic) sustainability, the importance of local action / decision-making has been formulated several times. At the same time, the capability of local government structures is questioned from several aspects. Local governments today are not necessarily a proper legal-administrative framework for sustainable development, for example because the population of a sustainable local community (conceptually) and of a larger settlement (by size) does not coincide. However, the (partly networked) environmental policy system of the municipalities transcends the administrative area of the settlement, where appropriate, a larger area (agglomeration, city areas, etc.), connecting several actors and activities. The paper seeks to clarify this issue in two rather different but interrelating ways. The first approach is geographically rooted and examines the local government system and the spatial structure of the Hungarian state through environmental economics and environmental policy. The second question is about structural links, namely the problems of local governments potential for infrastructure development and the structure of the local economy. The paper concludes that municipal functions - administration, ownership, public service organization - are all concerned with environmental protection. Considering that many of the processes that are relevant to sustainability are taking place in settlements, so serious changes are needed at this level as well. In this context, cooperation between local and central government levels and the active involvement of (local) society can not be dispensed with, but the current mechanisms are hindering progress.

• A márkázás hatásainak vizsgálata a fogyasztói magatartásra két FMCG vállalat példáján keresztül

  1-16

  Tímea Gál

  Anikó Szendi

  Gergonia Árváné Ványai

  Views:

  634

  Over the last few years, companies have realised the significance of the image they represent and besides building the brands of their products, they started to concentrate on forming the brand of the company.We wanted to examine the world of corporate brands at two FMCG (fast moving consumer goods) companies. The aim of there search was to discover the connection between consumers and brands, product brands and corporate brands; how corporate brand influences customers during purchased ecision making. The effect of consumers’ knowledge was also observed about the companies on consumers’ habits. We have assumed that from the viewpoint of some customers, choosing among several products is often based on the perception of the brands and products alone and it has little to do with the corporate brand. Although, if one of the companies has a strong corporate brand, an idea built around it, and its message is communicated effectively, when it comes down topic king sides, the brand of the company could be essential to decision making.

• Corporate Performance Measurement in the E-Commerce

  80-91

  Rita Csáki-Darabos

  Rita Csáki-Darabos

  Views:

  603

  Performance of the domestic online commerce showed a dynamic increase in recent years and, based on the expected forecasts, this trend will be realized in the future as well. In Hungary, the number of electronic commerce undertakings is estimated to be within a range of between 5 000 and 6 000 pieces and this number is steadily increasing. Today, the opportunities offered by the internet play an increasingly significant role in every segment of the economy. In the increasing market competition, it is no longer sufficient to serve the local population. Driver of the internet commerce is a marketing activity therefore the performance measurement is a priority. The excellent result and success essentially and principally depend on the performance, in addition to luck. Performance is understood as the measurable results or, in the broad sense, the successful efforts which are made to achieve the organizational objectives. The performance measurement is a measurement process of the efficiency and economy of an activity. Its aim is to support the decisions and actions related to the operation of the undertaking. The performance measurement is not only a decision support tool but also an element influencing every level of the decision-making system; it has an effect on the actions of stakeholders. Its danger and importance are simultaneously the fact that its improper operation (application of incorrect yardstick) can result in a functioning contrary to the corporate objectives. My aim is to survey the corporate performance measurement practice, to assess the connection between the financial and operational performance as well as to analyse the connection between the performance measurement practice and the performance achieved.

• Company Valuation of an Entity Operating in International Accounting Environment

  320-331

  Mirjam Hamad

  Ildikó Dékán Tamásné Orbán

  Views:

  776

  Company and asset valuation plays a major role nowadays. Determining the company’s value is a key factor for management in appropriate decision making, and it is a necessary step for individuals who wish to invest and for investors. There are numerous models which utilize different methods for company valuation. In our study we based our valuation on the McKinsey model for a company in an international accounting environment. In the study we present the main attributes of the McKinley model, its structure, which includes the main steps of valuation. We put a special emphasis on the calculation of free cash flow, future balance sheets and profit and loss accounts anticipation as well as future turnover, which highly influences the changes of data in the future reports thus in the company value. The McKinsey model is a discounted cash flow model, in which the company value and the consequent future cash flow can be determined as present value.