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• Process Innovation Tools and Strategies in Production Management

  148-162

  Edina Erdei

  Views:

  411

  The method of process innovation helps to recognize the opportunities in production processes that represent clear competitive advantage. Using it, up to 30% change is available in increasing productivity and in the reducing of costs, stocks, and lead times. There is no need for complicated methods in the process development. The power of logical, simple tools relies on the fact that everyone can learn, understand, apply them and give quick feedback about their operation. Significant changes have been made in today's possibilities of designing and operating production systems. The emergence of cyber physical systems, the opportunities offered by big data, and the "Internet of Things" (Internet of Things) have shown strong research potential for more efficient logistics and manufacturing systems. The potential of network co-operation, information gathered from tracing materials in production and communication between machines provide a wide-range of optimization opportunities for manufacturing processes. The toolkit presented in the research cannot only be used in direct production; almost all parts of the value creation process can be broken down into routine actions, so the causes of the problems can be analyzed and the development of the process’ parts can be easier implemented.

• Transaction Costs: A Conceptual Framework

  131-139

  Allam Yousuf

  Views:

  1148

  Transaction Costs (TC) is a very important topic, especially in a changing work environment which has a large number of operational firms, and increasing business growth. The aim of this paper is to shed light on the transaction costs concept, and provide a conceptual framework to understand the meaning of transaction costs. Publications including articles and research papers have explained the notion of transaction costs and the theoretical issues related to them. The literature review reveals that, transaction costs are costs which arise because of the of a company‘s activities in the market , including (fees, commission, taxes) which are paid by the firm to provide a service or produce a good either to external parties or as internal costs. Therefore, according to the literature review. It emerges that firms must make a comparison between internal and external transaction costs and choose the lowest cost which enables them to increase profits. This means companies have to reduce transaction costs to the minimum level to achieve more profits and competitive advantage.

• Strategic Role of Environmental Factors in the Operation of a Manufacturing Company: A Synthesis of Three Analytical Models

  56-74

  Barbara Zsófia Stefán

  Views:

  271

  Nowadays, the operations of companies are influenced by increasingly complex internal and external factors, the systematic examination of which is essential for conscious strategy-making. The relevance of this study lies in the context of global economic instability, rapid technological advancement, and intensifying market competition, all of which present new challenges for organizations. The aim of the research is to demonstrate how the analysis of environmental factors can support strategic decision-making, with particular emphasis on a specific company case. The analysis was based on three established methods—PESTEL analysis, Porter’s Five Forces model, and the SWOT framework—which together enabled an integrated examination of macro- and micro-environmental factors as well as internal resources. The results highlighted several key strengths of the company, such as professional expertise, international presence, and the quality of customer relationships, while also identifying several areas in need of improvement, particularly in terms of pricing strategy, digital information accessibility, and internal communication. The novelty of the study lies in the combined application of the three analytical tools, which revealed interrelated insights and served as the basis for well-founded recommendations aimed at enhancing strategic flexibility and strengthening competitiveness.

• A Literature Review of Modern Branding

  63-73

  Krisztián Csák

  Csilla Juhász

  Views:

  391

  In the modern business landscape, branding goes beyond identifying products and services; it has become a crucial factor for corporate success. The leadership branding, and employer branding emerges as a key strategic tool in gaining competitive advantage, fostering loyalty, and enhancing engagement. Personal branding, as the conscious presentation of individual values and capabilities, supports leaders in strengthening credibility and trust. Leadership branding encapsulates a leader’s personality and style, serving as an inspiring example within the organization. Moreover, employer branding reflects the corporate culture and workplace values, making the organization attractive to talented employees. The aim of the study is to demonstrate how personal branding, including leadership branding and employer branding, can contribute to the more successful operation of a company, highlighting the synergy between the different levels of branding and their economic and social impacts.