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Environmental Challenges – Strategic Responses
26-39Views:198The paper serves the purpose of understanding better how businesses and enterprises may handle the changes happening in their environment using the tools of management. Radical changes are happening in the environment of businesses, primarily as a result of the massive and forceful appearance of new opportunities and constraints brought by the technological development. Some of the businesses participates actively in the creation of changes. For other businesses the main issue is the way they may handle the changes. How may businesses and enterprises adapt to the new environmental characteristic is the main issue under scrutiny in this paper.
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Level of Digital Competences and the Examination the Relationship Between Unemployment and in Job-Trainings in the European Union
197-209Views:219In this study we examined the digital competences by the EU Member States between 2015 and 2017 based on data of OECD and EuroStat. We wanted to know, are there any relationship between the unemployment and the level of digital competences. We realised that, in these countries where the percentage of individuals with basic digital skills is higher, there the harmonized unemployment rate is lower, than in those states where the individuals have above-average digital skills. In the case of lower educated states (where the citizens do not have a general digital knowledge), the unemployment rate is higher. We researched the openness of companies towards individuals with different levels of digital knowledge. In these countries, where the more educated people live there provide the comapnies more chance to take part further trainings, than in the less educated countires. We found a moderately strong negative correlation between the group of individuals who have low overall digital skills and in-work trainings. It means, if a country has individuals with a few digital competences, there the organisations will not offer trainings them. According to the available data we could divide the EU Member States in three clusters. These groups are underdeveloped, developing, developed countries. The biggest difference is between these groups in the quantity of skilled people, however the distribution of individuals in the developed group also shows interesting features. We realised in these countries the so-called „reverse competence pyramid”. It means, as the level of skill grows, the number of individuals, who own it, grows as well. As a continuation of the research, it would be worth examining the countries regionally, so it would be clear where are, the "digital kingdoms" can be found. On the one hand this could help the state in the allocation of digital education, on the other hand, it would also improve the position of companies. They could create regional centers in less developed countries, thus outsourcing expensive high added value work.
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Green Sports Products – Environmentally Friendly Efforts of some Sports Equipment and Sportswear Manufacturers.
45-61Views:121In today's world, the issue of sustainability has become a cardinal problem on a global scale. The question of sustainability affects society, health, the economy, and the environment to a large extent. The examination of the environmental aspects of sustainability at the points where the sports sector interacts with the environment is considered a basis for research, and an increasing number of international studies and literature deal with this topic. Sports equipment and sportswear manufacturers operate through high numbers of multi-level global supply chains. They constantly strive to meet sudden changes in consumer demand, which results in high demand for raw materials and resources, waste and greenhouse gas emissions, and water consumption, all of which contribute to the most harmful environmental effects.
The aim of this study is to present the environmental protection measures of Nike, Adidas, and Under Armour, multinational manufacturers of sports equipment and sportswear, aimed at raw material usage, waste management, minimizing water consumption, and reducing their carbon footprint, which they are increasingly applying as part of their business strategy.
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The Efficiency of Intellectual Capital as a Crucial Factor of Innovation
419-428Views:232In today's global economy, there is a substantial shift from manufacturing to services, which challenges both economic policymakers, business stakeholders, owners, suppliers, competitors, and ordinary people: restructuring will encourage all economic players to learn how to adapt to new trends. That is why our research focuses on innovation and the ability of companies to create value. The IT sector is currently one of the fastest-growing and most innovative sectors within the service industry. The success of IT companies is greatly determined by their ability, how to make effective use of their intangible assets at their disposal, including intellectual capital, which is defined as a non-financial asset. So the question may arise: how is it possible to quantify and in monetary terms the intellectual capital of the companies to be examined? That is why, we calculated for the most successful Hungarian IT companies the widely recognized index, the VAICTM index, for which domestic calculations are not yet available. Indeed, this indicator eliminates the lack of information stemming from reporting standards by the methodology relying on publicly available financial reporting data. The indicator itself is a top indicator whose two main sub-indicators quantify the effectiveness of intellectual capital and physical capital.
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Relationship between the Lean and Agricultural Companies
370-381Views:159Eliminating losses is a daily challenge for both: companies and individuals in society. Whether through the production or office work, we are wasting the most important human needs: time and energy with useless things and processes. Both are an integral part of our daily lives and are particularly important for agricultural companies. In our study, we look at the relationship between Lean and agricultural companies. We outline the risks associated with these seven Lean Losses at these companies, and how these problems can be corrected and eliminated using current methods. Our research sheds light on how technological innovations affect and influence the position of companies in the market and in financial and human resources. We examine the benefits and drawbacks of the innovations applied and the Lean processes used, and how they affect the environment around them.
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Development Lies in Corporate Processes
358-369Views:217Nowadays, our rapidly evolving world is characterized by constant change. Organizations need to be prepared and responsive to these systematic changes to compete in the marketplace. Today nothing is constant or predictable because the organization is driven by the "3 C" force (customers, competition, change). Rapid adaptation to ever-changing circumstances requires companies to move from structured organizations based on traditional functions to process-based management. By using state-of-the-art process management procedures, organizations can be made transparent, analysable, measurable, and continually improving, and help companies increase their performance and organizational flexibility, and reduce costs. It also helps to recognize when it is necessary to change a process for an effect. In the event of creating well-organized processes, companies are more responsive to changes in the market, allowing them to operate more efficiently, and to carry out development activities easier. Nowadays, development as a new framework focuses primarily on digitalisation, which is challenging for companies to adapt but without this, they would be left behind in the competition. These challenges require radical changes and transformations in the lives of many organizations, which are difficult to achieve. With the development of process-based enterprise management, not just multinational companies can improve their operation, but small and medium-sized enterprises can also move towards digitalization thus inducing development for not only their own but for the economy as a whole.
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Employment Challenges in the Second Wave of the COVID-19 Virus from a Corporate Perspective
152-163Views:607The changed market conditions caused by the Covid-19 virus forced companies to rethink their strategy and structure and to optimize their processes. The aim of my research is to shed light on the changes in the second wave of the coronavirus epidemic that have had a significant impact on the operation of businesses and presented them with significant challenges. For the study, I used the results of a previous questionnaire survey (Pirohov-Tóth 2020; Pirohov-Tóth, Kiss 2021), which were supplemented with a literature analysis and statistical data from the database of the Central Statistical Office. Furthermore, compared to the first wave of the virus, I examined how job productivity changed in the second wave of the virus. Finally, corporate crisis management options have been presented in my analysis, the practical application of which can contribute to re-emerging from the crisis. It can be stated that the acceleration of digitization and the widespread expansion of advanced technological tools and methods can be considered as one of the biggest positives of the viral situation, which can also mean survival for companies in this pandemic situation.
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Sustainability, sustainable supply chain management
322-328Views:786With the rapid development of the world economy, the growing scarcity of natural resources and the degradation caused by pollution, environmental protection has become a major concern for countries and regions of the world. Sustainability is a common subject in many parts of the world and the various research areas among policy makers, journalists, scientists, universities and social debate. It is generally accepted, that companies also play an important role in addressing the challenges of sustainable development. In this role, making a key challenge to balance often conflicting pressures caused by sustainable development, that is, the level of corporate economic performance against environmental deterioration and social disruption. Effective integration of sustainability principles into companies requires action beyond the borders of organizations. The issue of sustainability is becoming more and more prominent in corporate governance. One of the most important area of supply chain management is for companies to gain a competitive edge in the market. This has a significant impact on the natural environment, and there is a growing need to integrate environmental thinking in supply chain management and processes, which is why companies are increasingly focusing on sustainable development, taking on more CSR initiatives and achieving a greener supply chain. Sustainable and green supply chain management practices have been developed over the past decades, trying to integrate environmental considerations into organizations by reducing unwanted negative consequences for the environment of production and consumption processes. In this article, I have examined the issues of sustainability and sustainable supply chain management, mainly based on descriptive secondary literature.
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The Opportunity of Analysing Global Career
115-124Views:213The study aims to define global career and to present an applicable method. Internationalisation and globalisation indisputably have affect on companies actions. The value of human capital as a resource has got notably higher than before. To retain competitiveness, multinational companies have to focus their sight on employees with globally usable knowledge. In today’s globalized world international assignments are particularly frequent. It is a must to differentiate between working abroad willingly or sent abroad by the company. Achieved and applied knowledge from international assignments are essential ingredients of global career. However, the inappropriately planned career structure can cause damage for the company and for the cost effectiveness of the HR department. It is vital to appoint the most suitable employee for the assignment, to increase the company’s success rate and to maximize the individual’s performance as soon as possible. The effectiveness of the selection has influence on performing a successful assignment in the process of the career path.
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Efficiency Analysis of Production Management System
401-415Views:198Due to the continuously evolving technology, even more escalating market competition has emerged between the companies. This competition is not only about the logistics related processes, it also appears to be significant for the production since the manufacturing companies form the center of global sale streams and without them the items found in logistical processes cannot be created. The role of production’s optimization and efficiency in the supply chain continuously grows since this is the part where a company’s most cost is produced. Our research objective was the examination of a company that applies various manufacturing, assembly technologies, and the used tools and softwares for this purpose were the SAP Business One ERP system and it’s add-on, called PPS One, the latter originated in Switzerland. We used these softwares to provide solutions to companies, especially to those that are dealing with manufacturing and production, for the optimization of their workflows, operations, supervising and controlling of their material. We also monitored from production technology’s elements the capacity planning, production orders, schedules, production tracking and cost accounting. We have made proposals during the analysis that might improve the company's strategy, competitiveness and increase it’s efficiency in business, and at the same time they can facilitate the company's pricing and inventory management activities.
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The Role of Information Security in the Business Processes
1-13Views:103Information security (namely, confidentiality, integrity, and availability of business-related data) is an issue which companies attach increasing importance nowadays. This is, however, not a self-centred goal to achieve, but an (additional) means businesses use to work towards security in their overall operations. In addition to briefly presenting two case studies on information security practices, this paper offers a survey of terms and management practices linked with process security. Business continuity planning and risk management techniques - as outlined here in connection with information protection controls - may cover all business processes at any company.
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Comparative Analysis of the Notes on the Accounts Of Information-Technology Servicing Companies in Hungary
186-194Views:166In the globalized and accelerated world of our time, challenges can only be met by companies that possess the necessary information and are able to convert it rapidly into organizational knowledge. Annual accounting statements are an important source of information within business relations among companies. The necessary information can only be obtained from the two fundamental parts of the annual statements (balance sheet and profit and loss account) if the notes on the account contains the information that contribute to the more comprehensive interpretation of the other parts of the annual statement. Decision-making based on inadequate knowledge further increases economic risks that are already high. In our research, we examine whether the notes on the accounts of companies include the information, which could help obtain necessary financial knowledge concerning the partner companies. For the analyses, we used the notes on the accounts of companies, which have information-technology services (Hungarian NACE No. 62) as their main line of business. By means of text mining, we analyse the extent to which the notes on the accounts are in conformity with the Accounting Act.
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Comparative Analysis of the Notes to the Financial Statement of Companies Engaged in Sports Activities in Hungary, Based on the Information of the General Part
117-125Views:186Contribution of the sports sector to GDP in the EU Member States is close to 5%, while in Hungary it is approximately 1-1.5%. This ratio is likely to increase, for which various subsidies of corporate tax provide a good basis. The information mentioned above confirms that the economic analysis of companies engaged in sports activities is an interesting and necessary field of research. In our research, we examine whether the notes on the accounts of companies include the information, which could help obtain necessary financial knowledge concerning the partner companies. For the analyses, we used the notes on the accounts of companies, which have sports activity (Hungarian NACE No. 931) as their main line of business. By means of text mining, we analyse the extent to which the notes on the accounts are in conformity with the Accounting Act. The sports activity companies are analysed using various packages of the R statistical system. By means of text mining, we analyse the extent to which the notes on the accounts provide the necessary information that would be indispensable for the proper interpretation of the balance sheet and the profit and loss account.
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The Effect of Player Transfers on Football Companies Valuation
Views:226Transfer seasons are one of the most highlighted periods in world of football. The market of player rights forces the greatest european clubs with their enormous budgets to compete with each other in order to aquire the most talented and most succesful players. It is not uncommon to sign players for tens of millions of euros, to this extent these expenditures are seriously affecting clubs bottom line. However, despite the expenditure nature of player transfers the value of these clubs increase, based on the best known measurer for companies valuation: the stock exchange. In my research the effect of player transfers ont he valuation of football corporations are presented through market value development of stock market listed clubs namely Juventus and BVB Dortmund. Based on my results if the examined clubs were signing players according to a player transfer policy considered as succesful the value of examined clubs had increased through stock market price independently of player transfer balance. Moreover the effect of coronavirus could had been noticed, since both clubs valuation decreased heavily in the 2020 summer transfer window probably due to the revenue loss caused by the pandemic.
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Management Practices from Christian Point of View
14-30Views:171Globalisation is a complex and worldwide process overarching historical times and continents. However the phenomenon brought efficiency and new opportunities to companies, providing practically free access to raw materials, labour and knowledge, it also caused negative effects like the degradation of the biosphere, greater social and economic inequality especially in the developing countries. There are some companies operating worldwide which have acquired great economic power and influence. and governments have only limited possibilities (if any) to regulate their operation. The expenses of profit maximisation are high, which are often ‘paid’ by the socialnatural environment (as externalities) and/or by humans. The aim of our study is to overview how current business relations could be formed to be more „human friendly”. The research is done from a Christian philosophy point of view, focusing on the employees as the major stakeholder group of the comanies. As part of the study some practical examples and Hungarian organisations related to this topic are introduced in order to highlight the relevance of the topic.
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Framework of Industry 4.0 Technologies
213-223Views:1393The increasing competition and globalization have changed the micro- and macro environment of companies worldwide. The number 4.0 marks the fourth industrial revolution, bringing information technology and automation closer together leading to fundamental changes in production methods. It is not only about the penetration of technology but also about the paradigm shift in business processes. Industry 4.0 is becoming a daily reality for domestic companies as well, giving rise to the era of high-level interaction among production resources and different players. Industry 4.0 will transform the structure of production and change global competitiveness giving enterprises new opportunities to create added value. In my study I presented the concept of Industry 4.0, its framework and innovative technologies. I described the intelligent logistics solutions and the most important advantages of Industry 4.0. Essentially, the use of these tools include in addition to the explosive development of industry the digitalisation of the entire economy affecting society as a whole. It is of great importance that small and medium-sized enterprises also respond to new technological opportunities otherwise will significantly lagging behind in the digital transition.
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Presentation of Employment and Economic effects of the Covid-19 Epidemic between March and November 2020 among Companies Dealing with Car and Parts Trade in Szabolcs-Szatmár-Bereg County
80-92Views:419The outbreak of the COVID-19 pandemic during the spring of 2020 entailed major economic and social changes all over the world. In this study, we aim to investigate the impacts of the COVID-19 pandemic on the labor market and the economy with relation to the automotive industry in Szabolcs-Szatmár-Bereg County. Apart from secondary data collection, this research also relies on primary data collection methods, including self-administered questionnaires and in-depth interviews, all conducted with several employees and finance directors employed by the automotive companies present in the county. The focus of this research is to study how the pandemic affected the balance sheets and the gross revenue of these companies; how it altered the repayment obligation of their current loans and how it influenced their willingness to enter into new loan agreements or relief options offering financial assistance. Apart from these factors, this research also studies how the pandemic restrictions affected the work schedule and the benefits of the employees.
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Changeable requirements & Answers With a dynamic system in order to continual improvement of the environmental performance of a rubber industrial big company
81-90Views:102The topic of this article is the analysis of the changeable environmental requirements for the Environmental Management Systems (EMS) of the companies. The strengthened environmental criteria of the 21st century creates new challenges for the participants of the business sphere. In order to satisfy the criteria of the stakeholders, it is necessary to build out a - by the top management - preferred and proactive EMS that can contain also a life cycle thinking method. This logic is supported by the new ISO14001:2015 standard, too. In the first part of the article the stakeholder conception and the new standard model is presented based on literature analysis. The second part of the article presents an environmental management tool developed by a multinational, tyre company. The model combines the stakeholder conception, the requirements and the life cycle assessment (LCA) in order to respond to the new environmental management challenges. The last part of the article closes with the new development possibilities of the presented environmental management tool worked out by the author.
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CSR Strategy Creation
344-354Views:685The starting point for the need for social responsibility is to combat the deterioration and destruction of social and environmental values. The social and economic factors induce both society and the economy, including companies, to prioritize their social role. Corporate responsibility needs to be incorporated into the company's strategy so that it can be more planned in the long term, since CSR can thus maximize its impact, ultimately leading to maximizing profits. To be able to develop a strategy, we must first look at the broader environment to which we can apply PEST analysis, by analyzing the social, legal, polo-social and social environment. To take a closer look at the company's narrower environment, we can use the SWOT analysis to identify the company's strengths, weaknesses, opportunities and dangers. Based on these, the Hoshin Kanri method can be used to transform the company's own CSR strategy both short and long-term in order to become part of the corporate culture.
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Developing of Capacity Analysis Method
1-19Views:314Capacity planning is strategic significance in companies’ life. The strategic of capacity enlarging in fluencies the competitiveness of companies. There are several method for determination of long-term capacity from simple ones to expensive, high calculation requiring processes. We have to rearrange the production for the increasing demand, it is not so simple because it needs some investments. We must scrutinize that is it worth for us? The aim of this study is to investigate whether capacity enlarging is going to be realizable without investments only the eliminate of waste. In this method needs exact determine of the current capacity so we use modified, extended capacity model. In this model we consider the availability, quality and efficiency of the machine more over we observe the effect of the service program of the machine.
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Role of Grants for Tourism Purposes in Development of the Northern Great Plain Region
365-376Views:153Aim of the treatise is, based on main macroeconomic indicators, to present the development of the Northern Great Plain region and the amount of EU grants received, including the ones for tourism purposes, as well as to examine the effects of grants. Based on the data, it can be concluded the region received significant grants during the years 2007-2013; it is in last place in view of the economic development but has achieved better performance in several areas. It is difficult to examine the accommodation and food service national economic sector independently: in one respect, it develops by the combined impact of several other areas, on the other hand, the tourism-related developments become usable for other sectors as well, new enterprises and investments are launched, at the same time, not only the companies’ but the municipalities’ revenues from tourism are increasing. Based on the statistical data, attention will be drawn to the fact that the outcome of developments is just moderate in the area of catering and tourism in the region and has a different rate by county.
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Successful International and Hungarian Family Businesses
280-287Views:483The purpose of family businesses are maintaining market competitiveness, develop sustainably and achieve their results in the dynamic market environment. The family run businesses are contributing significantly to the economic growth. They are interested in long-term preservation of values. The study presents the charachteristics of the world’s TOP family owned companies. In order to proving the economic value and importance of the Hungarian family businesses the study contains some findings of a representative national.
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The Cluster as a Learning Organization
313-330Views:133Globalizálódó világunkban, ahol a KKV-k egyre inkább részeseivé vállnak a nemzetközi piaci versenynek, a klaszterek szerepe a cégek versenyképességének támogatásában meghatározó. Az elmúlt évtizedben jelentősen megnőtt az érdeklődés az innovációs klaszterek iránt, mely mögött részben az a felismerés húzódhat, hogy a vállalatok versenyelőnyét nem csupán a saját kompetenciái, erőforrásai jelentik, hanem a földrajzilag közeli üzleti környezetében fellelhetőek is. Ahhoz, hogy a klaszterek eredményesen tudjanak működni, bizonyos egyéni és szervezeti kompetenciákat birtokolnia kell. A hatékonyan működő klaszterekre tekinthetünk úgy, mint tanuló szervezet, hiszen az egyének törekednek képességeik folyamatos fejlesztésére, a közös tanulás képességének elsajátításában motiváltak, kollektív elképzelések, közös célkitűzésekés és azok megvalósítására való törekvés jellemzik. A tökéletes tanuló szervezet rendelkezik a folyamatos innováció teremtő képességgel, melyhez nagymértékben hozzásegíti a folyamatos tanulási folyamat, amely új tudást és magatartásváltozásokat eredményezve, hozzásegíti a környezeti változásokhoz való alkalmazkodását. A tanulási folyamatok esetében fontos szem előtt tartani, hogy legalább olyan ütemben tanuljuk, fejlődjünk, amit a környezeti változások megkívánnak. A készségek, képességek, a klaszterszintű együttműködés szempontjából azért töltenek be kiemelt szerepet, mert ha a partnerek nem rendelkeznek a kooperációhoz szükséges kompetenciákkal, akkor az együttműködés lehet bármennyire előnyös, az nem lesz eredményes, hiszen csak korlátozott működésre lesz képes. Miként segítheti elő a „Tanuló szervezet-ként” való viselkedés a klasztert, hogy a szükséges kompetenciákat megfelelő szinten birtokolja? A cikk vezérfonalát a klaszterek eredményes működéséhez szükséges kompetenciák beazonosítása, valamint a klasztereken belüli tudásmenedzselés, tudásmegosztás megvalósulásának vizsgálata adja.
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Practical Application of Methods in Strategy-Based Analyzes
59-72Views:440Increasing environmental volatility is a growing challenge for companies and businesses. The speed of economic events is changing, and the risk of uncertainty is increasing, requiring business to take a new approach to strategic planning. In the design and forming of their strategy, both the factors of the external and internal environment and the analysis of their competitors can be based on well-chosen methods. We consider the review of these methods, their application in planning and educational practice. The aim of our work, in which we present the methods that underpin the strategy applied in both domestic and international practice. The analysis of the external environment illustrates the construction and applicability of an external factor analysis matrix based on traditional PEST analysis and the Porter's five-factor model. In the case of internal factor analysis matrix, we focus on the approach of method choice, and on the applicable methods, the importance of the resource-based approach, the analysis of key factors and the Porter value chain analysis matrix. The third pillar of the analysis that underpins the strategy is the matrix-based assessment of competitors. The applicability of the methods depends on the form of the enterprise, the field of activity and the nature of its activities, which is complicated by the emergence of new economic spheres (e.g.: sharing) and transformed power relations.
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Testing Methods of Green Supply Chain, in Particular Supplier’s Selection an Evaluation Tools
240-254Views:360Today, more and more articles have emerged in the field of sustainability and sustainable development. Sustainability plays an important role in supply chain management too. Green Supply Chain Management (GSCM) has emerged as a key approach for enterprises seeking to make their businesses environmentally sustainable. The notion of GSCM implies the insertion of environmental criteria within the decision-making context of the traditional supply chain management. Enterprises are increasingly expected to extend their sustainability efforts beyond their own operations to their suppliers and customers to their sustainability expectations. Literature of green supplier evaluation and selection methods number is large, though the number of environmental factors are relatively limited. Recently in supply chain management decision making, approaches for evaluating green supplier performance have used both qualitative and quantitative environmental data. Given this evolving research area, the purpose of this article is to analyse research conducted in international scientific journals focusing on the selection and evaluation of a green supplier. The purpose of this article will answered two questions: Which selection methods are commonly used? What environmental and other selection criteria for green supplier management are popular?
