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Practical Application of Methods in Strategy-Based Analyzes
59-72Views:663Increasing 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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Comperative Economic Analysis of the Determining Leagues of European Clubfootball
22-35Views:599Nowadays sport is not just all about entertainment, or about social cohesion but also it has serious economic and business aspects. Sporteconimics is an individual concept and sector. Sport businesses are contributing more and more to national incomes. Football business are specially important parts of this complex system called sporteconomics. The aim of my research is to create an economic and also comparative analysis of the five top European football leagues, also called as the “Big5” which are responsible for 74% of the total football revenue in Europe. By the analysis of the 2019 UEFA report it can be stated that in these leagues more than 60% of the competing clubs achieved positive operating profits, but the structure of their revenues warns them to look for opportunities to increase their operating revenues. According to the data it is clear that wage cost is the most significant cost element in the industry as they cover 53-68% of their total revenue. These statements set the course for the economic development of European football. The management of these outstanding football clubs may give example to the ones falling behind including Hungarian football businesses.
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The Dynamic Effect of Trade Openness, Debt, and Foreign Investment in Ghana’s Economy: An ARDL Bound Testing Approach
94-112Views:407The impact of macroeconomic factors offers insight into the performance of an economy. This study investigates the dynamic short- and long-term effect of trade openness, external debt, and foreign direct investment (FDI) within Ghana's economy. Utilizing Autoregressive Distributed Lag (ARDL) bound testing and Granger causality analysis, the study examines data spanning from 1991 to 2022. The results of the ARDL cointegration test reveal a long-term relationship among the variables. However, in the short term, the findings present a mixed effect of FDI and trade openness, with both positive and negative impacts. In the long run, FDI and external debt exhibit a positive influence, whereas trade openness appears to impede economic growth. Furthermore, the Granger causality test identifies a unidirectional causality relationship between the variables and economic growth. The study suggests that the government implement investment-oriented and trade policies to stimulate economic growth.
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The Correlation between LGBTQ Tolerance and Economic Development in Europe
31-51Views:484This study analyses the relationship between LGBTQ tolerance and economic development. It uses various indices measuring tolerance and economic data of 48 European countries. Based on previous literature I outlined how economic progress is supposed to have an impact on the social inclusion of marginalised groups. Also, a number of empirical reports are cited providing substantial evidence that tolerance can too shape economic performance. The main aim of this paper is to confirm that these findings in fact hold water in Europe. Having examined the regression analysis of GDP per capita and tolerance, as well as HDI and tolerance, I found that the modernisation theory proved valid on my sample. The other component of my analysis focusing on the sway of social inclusion over FDI showed that more tolerant states attract more foreign capital. These results led me to believe that economic progress and LGBTQ inclusion are interrelated, thus the latter should be considered upon forming policy.
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The Role of Quality 4.0 in Business Process Management: a Bibliometric Study
37-56Views:166Quality 4.0 builds on the principles of Industry 4.0 to improve quality management. Integrating Quality 4.0 into Business Process Management (BPM) examines how digital technologies enhance process efficiency and innovation. The main research question is how Quality 4.0 can be aligned with existing BPM frameworks and how the digital transformation of traditional quality management techniques facilitates efficiency. A bibliometric analysis was conducted using the Scopus database, employing keyword analysis, link mining techniques, and network mapping to identify research trends and gaps. The results show the main directions of research on integrating Quality 4.0 and BPM and highlight implementation barriers such as organizational resistance and the need for strategic alignment. The study also suggests directions for future investigation, including the development of standardized frameworks for evaluating digital BPM outcomes and exploring emerging debates around human-centric, sustainable, and resilient approaches reflected in Industry 5.0 and Quality 5.0.
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Cultural diversity, Intercultural Competence, Tolerance and the Economy: a Review
98-109Views:411Cultural diversity is generally a controversial topic in the literature. Whereas some studies proved that it has economic benefits, others denied that. However, it is possible to avoid the costs related to that through enhancing each of intercultural competence, on the level of firms, and social tolerance, on the level of economies. To investigate that, the study used literature review analysis. Based on the literature, cultural diversity plays important role in enhancing innovation and entrepreneurship which are necessary for economic development. However, it may result in different challenges such as a lack of trust and conflict. Therefore, it could be feasible to manage and benefit from cultural diversity in the companies through cross-cultural training as well as cultural diversity management. On the other hand, economies can avoid cultural diversity's costs by adopting the policies and institutions which are necessary for enhancing the level of social tolerance among people.
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Introducing a Task Management Tool into the Operation of a Management Consulting Firm
122-135Views:518Lean and agile methods are now widely used in various fields. Seeing their success, management consultancy firms also want to take advantage of using them. In this case study, the company selects the appropriate task management tool for their operation, the kanban board, and implements it. The implementation process is supported by quantitative analysis. In order to track the introduction progress of the kanban board, a key performance index is defined: the board activity, which is the number of operations performed on the board in a given time period. Based on the evaluation of over 26 weeks’ data, board activity proved to be an appropriate indicator of the kanban board’s reception, operation, and stability. The individual indicators examined, however, were not found to be suitable for performance appraisal.
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Economic Effect of the Coronavirus on the Companies Involved in Car and Automotive Parts Trading, and Manufacture of Tires of Hungary, Including Szabolcs-Szatmár-Bereg County, in Respect of 2020
1-12Views:423In Hungary the wake of the first wave of the Covid-19 epidemic (March 2020), caused a decline in demand for goods and services in most sectors. There were sectors (accommodation services, art, recreation, etc.), which were economically severely burdened by the imposition of restrictive measures, and there were some (financial services, communication), which experienced the change positively. In our research, our goal was to assess the changes caused by the Covid-19 epidemic in the property, financial and profitability situation of the companies involved in car and automotive parts trading, and tire manufacturing, in Hungary, and within the country, in Szabolcs-Szatmár-Bereg county. We established three hypotheses: (1) As a result of the spread of coronavirus epidemic, in Hungary and in Szabolcs-Szatmár-Bereg county as well, the profitability of companies of NAICS codes 441 (car and automotive parts trading) and 4231 (wholesale of road vehicles and parts), decreased. (2) The outbreak of the epidemic had a negative impact on the liquidity of companies established in Hungary, including Szabolcs- Szatmár-Bereg county. (3) As a result of the Covid-19 epidemic, the resource structure of Szabolcs-Szatmár-Bereg county companies, analysed in the framework of research work, transformed. To prove or disprove these, secondary research was used. Finally, we put forward conclusions and proposals for the management of the companies active in this industry.
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Flexibility Analysis Of Inventory Cost Model With Ergonomics
166-173Views:243The economic and environmental sustainability issues in supply chain management have integrated by many researchers in the past decades. The ergonomics as a social aspect of sustainability had received a little attention by researchers. Therefore, the aim of the paper is analyzing the flexibility of developed inventory cost model with relaxation allowance and endurance time as a social aspect of sustainability. The effects of distance, unit weight of item and total number of items on relaxation allowance, the total cost of logistics operation and the EOQ model were investigated. The analyzed mathematical model was a single operator-single material model which covered transportation of fixed amount of raw materials from storage plant to production plant by manual material handling with simple cart and picking, storing, pushing and pushing back with empty cart for manual handling of the products. The different parameter values applied for analysis such as total amount of handled items (Q) changes between 500 pcs to 2750 pcs, unit weight of item (w) changes between 0.1 kg to 1 kg, distance of movement by manual material handling for picking and storing motions (d1) changes between 2 m to 3 m and the distance between the storing equipment and the supermarket of the production line for pushing motion (d2) changes between 15 m to 20 m. The results of the analysis indicated that the longer the distance of movement for all motions leads to decrease in savings of the model compared to EOQ model. The increase in unit weight of item is increase the savings obtained from application of our model and decrease the optimal lot size. There was no specific change on savings or optimal lot size as the total amount of handled item is increase. The compared results indicated that an increase in d1 and d2 lead to an increase in optimal lot size and increase in total cost of the model. Consequently, the analysis has shown that a decrease in lot size would be the better way to improve both ergonomic conditions and total cost of production in any different parameter values. Finally, the analysis of the inventory model with ergonomics were proved that this model is suitable for different industrial practices.
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International Coffee Trade Network Analysis
393-404Views:412Coffee is one of the most consumed beverages in the world. It is the second largest traded commodity after petroleum. It is crucial for the economy and politics of many developing countries, as its cultivation, processing, trade, transportation and distribution create jobs for millions of people. The analysis of network connections and structures became popular in the field of sociology, whereby the term Social Network Analysis (SNA) is derived. The method is well suited for the complex examination and modelling of composite social structures. The social network is defined as a finite set of social actors and the relationships between them. Modelling of complex networks now apply in countless locations, from social media through the pharmaceutical industry to economic and commercial processes. Our study examines changes in international coffee trade through a network analysis. Introducing the complex networks investigate by our, highlighting major changes in international coffee trade.
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Examination of the Informative Part of the Notes to the Financial Statement Amongst Hungarian Companies Engaged in Sports Activities
108-116Views:311Currently, the role of sports has intensified and changed; by now, it has become a separate area of interest from an originally civil, exercise-based, private leisure activity. In the case of sports-related economic research, both macro- and microeconomic research can be mentioned. Its economic significance, its contribution to employment, national economic income, and consumer spending is involved in macro-level research, while the examination of the functioning of sports services and organizations, and the characteristics of demand and supply are micro-level research activities. One of the reasons for the development of sports activities was the increase in their economic significance, which created a need for their economic analysis. 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. 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.
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Strategic Role of Environmental Factors in the Operation of a Manufacturing Company: A Synthesis of Three Analytical Models
56-74Views:311Nowadays, 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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Classification of Economic Activities in Colombia According to Workplace Accident and Disease Rates Using a Data Clustering Algorithm
44-55Views:220In 2002 the Colombian Government issued a classification of economic activities according to their level of occupational risk, taking into account the International Standard Industrial Classification of All Economic Activities (ISIC). Since 2008, the federation of Colombian insurance companies (FASECOLDA) has gathered data related to workplace accident and occupational disease rates reported by companies with employees affiliated to the legal labour system. In this study, economic activities have been categorized according to the average rates of workplace accident and occupational disease presented between 2008 and 2016, using some techniques of the Data Clustering Algorithm. The purpose of this research is to evaluate the current classification system, and propose recommendations for a new approach, taking into account the analysis of historic data available.
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The role of the nonprofit economic companies in human resource management in Hungary
145-152Views:270In the changed labor market structure in the context of economic growth in Hungary, the reintegration of displaced and increasingly differentiated groups into the world of work has become an indispensable necessity, with alternative initiatives aimed at long-term profit maximization. Nonprofit economic companies replacing former public benefit companies not only determine the revenues of the whole nonprofit sector in their operations, their work goes beyond this, as most of them are engaged in socially marginalized, disadvantaged, or even disabled people, and can do other work to improve employability and employment. The aim of my study was to process the latest statistical database of the nonprofit sector issued by the KSH in order to determine the role of nonprofit economic companies in employment, by appying secondary analysis.
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Food Security and Economic Growth: An Income Level Comparison
16-29Views:303Food security is a fundamental but often neglected aspect of economic growth and sustainable development. This paper examines the effect of food security on productivity (GDP/capita) over time, while taking the income level of various countries into account. Dynamic panel regression analyses suggest that food security is positively related to productivity, but this effect is stronger in more developed countries. The study highlights the complexity of the economic problems faced by the least developed countries, where increasing the consumption and supply of food is insufficient for significantly increasing economic performance.
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Sustainability in Urban Waste Management: The Efficiency of Electric Waste Transport Vehicles
1-18Views:270This study evaluates the long-term economic feasibility of electric waste collection vehicles (EVs) as a sustainable alternative to diesel-powered counterparts in urban municipal services. Using real operational data from a Hungarian waste management company, we developed a total cost of ownership (TCO) model spanning 10 years, which incorporates investment costs, energy consumption, maintenance, depreciation, and battery replacement. Our analysis reveals that although EVs require a significantly higher upfront investment (€350,000 vs. €183,200), their lower operational and maintenance costs result in a break-even point around year 8. When accounting for a €50,000 battery replacement in year 6, the total 10-year cost of the EV remains lower (€431,769 vs. €450,914) than the diesel vehicle, resulting in a net saving of €19,145. The study emphasizes the significance of local energy prices and service structures in assessing fleet electrification. While the findings are based on Hungarian data, the proposed methodology can be adapted internationally to support data-driven decision-making in sustainable waste logistics.
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„Forradalmi” változások a menedzsment területén
1-15Views:246Development of the Science and practical application of the results created big changes in the nontradicional areas too. The „Health industry” was developed. The results of the physics, chemistry, biology and mikroelektronics etc. helped to develop some new methods of diagnosis, operation etc. The „money industry” was developed too. Our opinion is, that the most important cause of the economic crisis is a non regulated well of the „money industry”. The „knowledge industry” was developed too. The „knowledge industry” contains all level of teaching and Research + Development + Innovation. Our analyze shows that the Innovation is the most important factor of the economic Development of Society. The new scientific results created big changes in area of the Management. The „Management Science” was developed as an independent area. Some management specialists developed some management methods (eg. Value Analysis, Risk Management, TRIZ, Lean methods etc.) for efficient allocation of sources.
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Analysis of the Policy Background of Transport Related Use of Renewable Energy
124-129Views:220The EU energy policy prioritizes the following principles: sustainability, competitiveness and security of supply and addresses the reduction of greenhouse gas emissions as a priority. The related EU policy (including the White Paper on Transport) outlines these principles, identifies goals and opportunities for action. At company level methodological guidelines and standard procedures can be used to assess the carbon footprint of the organization, to generate efficiency goals and to prepare action plans. In the Hungarian policy framework, a comprehensive National Sustainable Development Framework Strategy defines the basic principles for the analysis of the sectorspecific or regional strategies. Sustainable Energy Action and Climate Plans (SECAPs) integrate energy and climate issues and include interventions and improvements for the better use of renewable energy sources in transport at municipal level. As a summary it can be stated that exploration of the policy background would needed to influence the use of renewable energy sources for transport and definition of the development goals can help economic organizations to transform their mobility patterns and reduce related carbon footprint.
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Advancing Sustainable Waste Management through National Recycling Rate under SDG 12.5.1
61-72Views:337Solid waste management remains a pressing environmental challenge in both developed and developing nations. Recycling has been promoted globally as a key pathway to sustainability, yet recycling rates often provide only a partial picture of performance. In many contexts, challenges such as poorly regulated recycling policies, informal sector dominance, and practices that prioritize profit over environmental sustainability limit progress towards Sustainable Development Goal (SDG) 12.5.1, which tracks the national recycling rate. This study investigates the extent to which recycling rates reflect sustainable waste management and identifies the underlying factors that influence their effectiveness. The major objective of this study is to evaluate recycling rates as an indicator of sustainable waste management. This is further specified by: (i) examining recycling practices in selected countries (Germany, South Korea, USA, Brazil, and India), (ii) identifying key drivers and barriers that influence recycling performance, and (iii) assessing the implications of recycling rates for sustainable waste management systems. The study employed a mixed-methods approach, combining secondary data analysis, comparative country assessment, and policy review. Results show that recycling rates are useful but insufficient as a stand-alone measure of sustainability, since they are influenced by broader elements such as policy enforcement, economic incentives, public participation, and market structures. The findings highlight that Nigeria’s recycling rate remains significantly low compared to leading economies, underscoring the need for integrated waste management reforms. This research contributes to environmental management discourse by demonstrating that while recycling rates provide a benchmark for SDG 12.5.1 monitoring, they must be interpreted alongside contextual drivers to ensure meaningful progress towards sustainable waste management.
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Factors Influencing Female Entrepreneurship
32-55Views:360The following research was conducted with the objective of identifying the factors that influence women to become entrepreneurs. It explores the effectiveness of support mechanisms, including mentorship programs, networking opportunities, access to financial resources, and policy interventions in enhancing the success of female entrepreneurs. Special attention is given to the decision-making threshold concept and the role of self-confidence. A multi-method approach was employed, entailed a comprehensive literature review, a qualitative analysis based on interviews, and a quantitative analysis conducted through surveys. The data obtained from these methods were triangulated to ensure robust insights. The research resulted in a model that illustrates the interrelationship between the scientific, practical and educational approaches. The findings highlight the potential of developing a motivation model for female decision-making in entrepreneurship, identifying key motivators, focusing on economic, social and personal factors with self-confidence as a central concept of study.
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CSR Strategy Creation
344-354Views:902The 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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Knowledge of Control Methods and their Application in the Practice of Small and Medium Enterprises in the Northern Great Plain Region
441-452Views:557Like large companies, the small, and medium-sized businesses need also all the information to ensure the efficiency and effectiveness of their business by making sound management decisions. Compared to large companies, SMEs have significant development potential, which can be created in part by the companies themselves, possibly through the introduction of new-modern management - business administration methods or economic policy measures (= targeted and efficient support system), which, by stimulating R & D & I processes, serves to increase competitiveness and contribute more and proportionally to domestic GDP and exports. The analysis presented in the study covers the controlling knowledge of the leading SMEs of the Northern Great Plain Region, the conscious or unconscious application of controlling tools, the assessment of succession, customer and supplier valuation and certain areas of managerial accounting. Overall, it can be concluded from the small sample size that the use of controlling tools is proportional to the size of the business, but nevertheless, many mid-size business executives do not require the collection and analysis of insider information that could explicitly help decision making for example through advanced costing procedures.
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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:347Contribution 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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Correlation Clustering: Analysis of Major Agricultural Commodity Markets
288-302Views:417The aim of this article is to compare the clusters formed by the correlation distances between the agricultural and the energy commodity price returns in different periods of time. The energy and agricultural markets have become more interlinked in the past ten years, which can be attributed partly to the increased usage of biofuels. According to the results of this research, after the global financial and economic crisis of 2008/09, the relationship has become tighter between the agricultural commodity prices and the price of the crude oil. Based on the hierarchical clustering, the relationship between crude oil and sugar, and especially between crude oil and vegetable oils has become stronger. These results support the hypothesis of a more interconnected agricultural and energy market after 2013. Furthermore, the emerged relationship of crude oil with the vegetable oils may indicate the connecting role of biofuels, since biofuels require agricultural input materials, partly vegetable oils. However, the role of biofuels in the present analysis requires further researches.
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Justification for the Olympic Reform Package Based on Good Practice
Views:465The Olympic Games have always been the pinnacle of sport and achievement. The modern Olympics are held every four years, and the venue is chosen from among the cities that apply. In my research, I wanted to find out the reasons for the decline in the popularity of the Games. To answer this question, I looked at 2 successful Olympics (2000 Sydney, 2012 London) in the hope of identifying success factors that could be adapted to other host countries. I conducted secondary research, reviewed related international and national research, and the available economic data. During the document analysis, I found that the expected costs of organising the Olympic have increased significantly over the last two to three decades, and under-planning is a common feature. As a result of the research, I have found that the most important pillars of successful organisation are a proper organising committee, comprehensive opportunity and risk analysis, accurate planning, sustainability in planning, continuous cost control, private sector support, and the work of volunteers.
