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Practical Application of Methods in Strategy-Based Analyzes
59-72Views:424Increasing 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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Latest Trends and New Tools Being Used in Strategic Management
73-85Views:622In today’s rapidly changing world, there is an increased need for excellent strategic planning. A firm’s survival may indeed hinge on the firm’s planning process being exemplary. Various aspects of the strategic planning process are under review today as organizations wrestle to compete more effectively in an ever-changing world. This paper reveals and describes five new trends or tools being utilized today by firms to more effectively engage in strategic planning. Specifically, the new trends and tools to be discussed in this paper are as follows: increased need to follow a strategic planning model; increased need to develop quality vision and mission statements; a new improved method for incorporating SWOT analysis into practice. Utilizing two matrices one internal and one external to provide a less biased way to access the current strategy fit with conditions facing the firm. Explain the use of a decision matrix commonly called the QSPM (Quantitative Strategic Planning Matrix) for assessing the relative attractiveness of various strategies being considered for implementation. The purpose of this paper is to familiarize readers with basic new tools and techniques being used by organizations to effectively develop an improved strategic plan for the firm.
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Millennium Generation Work Experience
657-665Views:180If we are open-minded in our everyday life, we should not overlook the phenomenon of student work. Within the framework of this study, our aim was to examine the work experience, later employment plans and income needs of students starting their studies at the Faculty of Economics at the University of Debrecen. In addition, we analyze the most important sources related to student work through literature studies.
It is important to pay attention to changing attitudes of newcomers to higher education as they become active job seekers after graduation. At the Faculty of Economics of the University of Debrecen, about 1,700 students started their studies in the 2019/2020 academic year. Our research was conducted with the involvement of these students.
The data were collected among students participating in the stork camp organized by the University of Debrecen. The survey covers, among other things, the initial salary requirements, previous work experience, future plans, including the willingness to work abroad, and factors that are taken into account when choosing a job.
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Current Challenges of Personal Branding
485-494Views:809The purpose of this study is to highlight the importance of collaborating with influencers as one of the most recent marketing tools. This article is intended to help brands and influenceres in critical situations, such as problems encountered in measuring performance or finding the right strategic partners, as mentioned in the literature. In the future – among the many potential research areas – we plan to study the self-branding of athletes and find key factors that distinguish influencers from other people.
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Successful International and Hungarian Family Businesses
280-287Views:475The 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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Development of a Family Business in a Franchise System
390-400Views:281The purpose of this study was to examine that franchise as a form of enterprise in perspective to existing family businesses how can they operate this way. Why is this form better for them, what advantages it has? In this case an ice cream shop’s economic inidicators was examined which one is owned by a hungarian family in JászNagykun-Szolnok county who runs several shops like this. That is why this study made, to find out is that possible to run it sucsessfully and what costs does the newcomers in the franchise business network have to pay and how much is the time on the return of investments.
