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Transformation of the Decisional Leadership Role
26-40Views:389Leadership decision-making is important for the successful functioning of organizations, so it is necessary for leaders to understand the factors that impact their decisions. Decision-making is always the responsibility of the leader, but in a changing world, it becomes an even more crucial factor for success. Making good decisions requires time, experience, and thorough problem-solving skills. In my research, through the analysis of scholarly sources, I have identified several role factors that clearly influence the decision-making process and its implementation. Furthermore, I have developed a self-designed questionnaire to examine the decision-making role in modern organizations. I analyzed the data from 230 respondents using various statistical methods. Based on my findings, conflict management, risk-taking, and a thorough understanding of the problem strongly determine leadership decision-making processes. The ability of leaders to effectively manage conflicts significantly impacts their decisions. Risk-taking is also of key importance, as leaders need to recognize the risks associated with a given situation and make decisions accordingly.
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Entrepreneur Willingness in Case of Students of University of Debrecen
181-194Views:346This article is about the entrepeneur willingness in case of the students of University of Debrecen. There was 500 participants in the paper and online based survey who could tell their opinion about entrepreneurship in Hungary, what difficulties are they seeing and which part of the economy is where they see opportunity to start their own business. The aim of this article is to get to know how many of them and with what rate would like to start their own business, while it is examined they are from which faculty of the University, what is their family background and these facts how effects on the individual if his or her family owns some kind of business.
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Use of IoT Tools to Support the Decision-making Process
125-141Views:392Nowadays sensor networks and other systems, based on the IoT concept demonstrate the benefits of their usage, which includes the support of the decision-making process, therefore achieving an optimal result in the context of more and more fields. In this experiment, an additional sensor network has been developed based on a modular system derived from a previous development by means of a target-specific modification of the required modules to measure environmental data in a drying chamber used in food industry. The main objectives include the development of the device, the verification of the measurements of the factory-built device, providing an interface, which is able access the measurement data and after gathering experience from the usage, further developing the system and extending the functionality of the web application. The built-in data acquisition and control system stores the data of the measurements in the form of text files, while our additional data acquisition and control system uses a unified measurement database to store the data. According to the structure, a task-specific application has been developed in order to unify the two sources. Analysis of collected data was performed after running the ETL (extract, transform, load) algorithm converting the transaction-oriented database. The experiment shows so far the benefits of the multi-point measurements by a significant difference between the measured values, so we certainly consider further developments.
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Comparative Analysis of the Notes on the Accounts Of Information-Technology Servicing Companies in Hungary
186-194Views:436In 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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Project Risks and Risky Projects
164-189Views:499Projects are key drivers of organizational change, both their failure and success can have significant impact on the organizational performance. Risks may arise throughout the entire project life cycle. Managing these and initial project planning uncertainties is an important task of Project Management. The study describes the application of traditional project management tools and methods in risk analysis, -evaluation and -treatment based on modern project and risk management standards and recommendations. The authors also examine the link between classic project management objectives (project time - resources – scopes) and risk-based decision-making. The different scale and scope of projects call for different responses to the associated risks. The study highlights the possible role of the ISO 31000 risk management standard package in project risk management. The authors analyse the risk management of the different projects on the basis of processing relevant literature, including the relationship of the project stakeholders to the risks. R&D, agile projects and project portfolios have specific and complex risk exposures, but their project management can provide several „hidden” risk analysis and - treatment functions.
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Strategic Role of Environmental Factors in the Operation of a Manufacturing Company: A Synthesis of Three Analytical Models
56-74Views:351Nowadays, 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.
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Maintenance Strategies and Life Cycle Costs of Renewable Energy Systems
106-116Views:260Life cycle costs are important factors in decisions on renewable energy investments. Since maintenance costs generally constitute a high portion of the life cycle costs, the maintenance strategy applied in a project can affect the bottom line significantly. The effective maintenance tools used in the production industry (e.g., diagnostics, condition monitoring, data management, integrated information systems, machine learning, and automated decision making) can be involved in planning and maintenance of renewable energy systems to gain the benefits of these approaches. In this paper the effects of maintenance strategies on life cycle costs are investigated and the benefits of up-to-date condition monitoring techniques are presented through case studies.
