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Examination of the Solvency of a Company in an International Accounting Environment
332-342Views:376It is highly important for every business to be solvent for both short and long term. Solvency is a prerequisite for the operation of a company, especially short term solvency, also known as liquidity. Liquidity plays a prominent role in the life of a given business. For this it is important for a business to strive to avoid liquidity problems. In the present article we examine the short term solvency of an American corporation, which prepares its financial statements according to the US GAAP (The United States Generally Accepted Accounting Principles). We present the fundamental short term solvency ratios, and the subsequent conclusions. Since for the calculation of the ratios the data of the examined company’s financial statement is needed, which shows differences from the yearly report of a Hungarian company, in the article we will also discuss the differences between the two accounting systems with regard to those items, which have an effect on the liquidity ratios, in particular current assets and short-term liabilities.
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X/Y emberkép hatása a teljesítményre változó környezetben
429-440Views:549A vezetési stílus kérdésköre kutatott terület, több elmélet és modell is született az elmúlt évtizedekben, ezek közül az egyik legismertebb a McGregortól származó X/Y elmélet, amely nagy múltra tekint vissza, mégis máig foglalkoztatja a kutatókat. Az utóbbi években számos olyan elemzés is megvalósult, amely a stílusnak a szervezeti teljesítményre gyakorolt hatását vizsgálta objektív vagy szubjektív mutatók használatával. Ebben a munkámban az X/Y elmélet alapjainak, a családi vállalkozások meghatározásának és a teljesítménymérésre tett legutóbbi kísérleteknek a rövid áttekintésén túl családi vállalkozások vezetőinek körében végzett empirikus kutatásomat mutatom be. A kutatási kérdéseimmel (K1, K2) arra kerestem a választ, hogy van-e összefüggés a vezető McGregor-i emberképe és a vállalkozás teljesítménye között. A teljesítmény mérőszámaként korábbi kutatások nyomán objektív számviteli adatot, az értékesítés nettó árbevételét vettem alapul, a 2008-as gazdasági válság idején a vállalkozók vezetői is elsődlegesen ebben – az értékesítési forgalom változásában – mérték a válság hatásait. A korábbi, X/Y emberkép hatásait vizsgáló kutatások a válság lehetséges befolyásoló hatásait nem vették figyelembe, indokolt lehet ilyen tekintetben is elemzéseket végezni, ezért az első kérdésemben (K1) az X/Y emberkép és a 2008/2012 -i teljesítmény közötti összefüggést vizsgáltam, ezzel lehetőségem nyílt a 2008-as gazdasági válság induláskori (2008) és a vezetők előzetes várakozása szerint fellendülést hozó 2012-es év teljesítményének összevetésére. A kapott eredmények a korábbi kutatási eredményekhez hasonló képet mutatnak, az Y elmélet képviselői eredményesebbek, amelyet a kereszttábla-elemzés szignifikáns eredményei is megerősítettek. Második kérdésemben (K1) a gazdasági válság időszakának átugrásával a K1-hez képest más időhorizonton (2008/2017) vizsgáltam meg az X/Y elmélet szerinti lehetséges összefüggést. Ez utóbbi (K2) esetben a K1-től eltérően statisztikailag nincs kimutatható összefüggés a változók között, viszont az arányok arról tanúskodnak, hogy az Y emberképpel rendelkezők ebben az időtávban is sikeresebbek forgalomnövelés tekintetében. Az attitűdök nagyon nehezen formálhatók, viszont az X emberképpel rendelkező vezetőknek érdemes lehet felülvizsgálni az emberekről alkotott vélekedésüket, változtatni a hozzáállásukon, mert az eredményekből kitűnik, hogy mérhetően sikeresebb az, aki Y emberképpel rendelkezik. A vállalkozások többségénél aktuálissá váló generációváltás esetében a kapott eredmények tükrében azt is érdemes megfontolniuk a stafétát átadó vezetőknek, hogy milyen emberképpel rendelkező utódra bízzák a vállalkozás további irányítását.
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Development of a Family Business in a Franchise System
390-400Views:313The 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.
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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:401Like 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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The Past, Present and Future of a Hungarian Company
303-313Views:376The new strategy for small and medium-sized enterprises focuses on growth, the three pillars of which are the development of a knowledge-based and innovation-based economy, a resource efficient, greener and more competitive economy, and high employment and social and territorial cohesion. Based on the plans and forecasts, in the 2021-2028 cycle, however, it is not as much as today, but it is possible to calculate development resources closely linked to economic development in the form of non-refundable subsidies in many forms. In my present study, I wish to outline the life span of a Debrecen company, NEXT Broker Consulting Ltd. and its potential development prospects in the post-2020 cycle, which may be important because it deals with tender writing, so it can show a serious impression on the previous or current the direction and situation of the use of development resources, thus indirectly the realization of the goals of Hungarian economic policy.
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Evaluation of the Factors Defining the Relationship Quality in Respect of the Customer-Supplier Cooperation
589-601Views:157The importance of the examination of customer-supplier relationship is growing on the field of supply chain management. Besides the fact that the researches in the topic of business relationship marks the quality of the as the crucial element of effective cooperation, still it can be identified as an unidentified area knowing that there is no agreement in the defining dimension. In the center in this dissertation are the dyadic business relationships. The main aim is to support the hypothesis that trust, dependence, conflict and personal relationship between the members of the supply chain are the crucial elements of the cooperation of the members of the chain and by that, they can be the defining elements of the relationship quality .As the results of my Primer research, I describe and reveal the previously mentioned dimensioned relevant for the customer and suppliers relationships in the microbusinesses producing fruits for the national, fresh market, how the good business relationship contributes to the company to reach its main goals and increase its competitiveness on the market. Based on my research, it can be stated that trust, dependence, conflict and personal relationship are the defining factors of relationship quality, moreover my results prove the fact that relationship quality contributes to the increase of the performance of the contributors.
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Practical Application of Methods in Strategy-Based Analyzes
59-72Views:484Increasing 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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The Efficiency of Intellectual Capital as a Crucial Factor of Innovation
419-428Views:262In 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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Efficiency Analysis of Production Management System
401-415Views:218Due 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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Examining Used and Sportswear Supply Chain Strategy and Indicators
86-98Views:239The following study presents the supply chain strategy of a second-hand and sportswear company in Hungary. The study discusses the main tasks of supply logistics, the level of logistics service, the main determining elements of the level of logistics service, and the measurement of customer satisfaction. From the first step of the process, we can fully follow the processes until the last activity. We can learn in detail about the sub-processes, such as: types of clothing collection, sourcing, warehousing, selection, disassembly, processing, receipt of goods and sales. The aim of the study is to make the processes more transparent for everyone.
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The Situation of Digitization in the Hungarian Food Processing Industry
196-209Views:382Thanks to various technologies, such as nanotechnology, the next decades will completely transform the individual production processes and sectors. With the rapid advancement of information technology, the digitalization and automation of industrial processes pose new challenges for food business operators. Hungarian food companies will be able to keep up with their competitors and be the winners for the next decades if they can successfully adopt these technologies. However, this requires a strong focus on digitization, digital strategy, and directing investment, technology change and R&D activities in this direction. Digitization is one of the decisive directions of the future, which is why I felt it essential to study the level of digitization of Hungarian food companies, IT infrastructure and Internet usage, the use, and role of enterprise management systems, decision support and business analysis tools, and business readiness, Industry 4.0 technology change. Based on the 205 evaluable responses to the questionnaire, it can be said that only a tiny proportion of Hungarian food companies have a digital strategy and only a few have digital transformation.
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Comparative Analysis of Equestrian Facilities in the North Great Plain Region
79-93Views:418Equestrian services appear in recreation, sports and tourism as well. The favorable natural and cultural values of Hungary and the image of the equestrian nation based on the traditions of the horse provide a favorable background for the development of supply elements. The lowland character and horse culture of the Northern Great Plain region, and the continuous development of horseback riding services here, reinforces the equestrian supply element in the field of sport and leisure. Our in - depth interviews were conducted among service providers with a “horseshoe rating” (N = 11) operating in the Northern Great Plain Region. The results show that all service providers consider and plan the development of equine, infrastructure and human resources, although the source of its financing is different (from state, other successful businesses, realized business results of equestrian enterprises). Equestrian service providers with no horseshoe rating have identified the improvement of quality, the 3, 4, and 5 horseshoe qualified service providers for the expansion of the complex program offering and product diversification.
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Performance Management Innovation is a Medium-Sized Enterprises of Light Industry/
1-9Views:232To achieve the strategic objectives of the management of a company, has to monitor and coordinate continuously the tasks of the employees, they have to do to reach the targets. In this action, sometimes the management of the company has to make corrections in the work and motivations of the employees. This article presents a case study carried out on a medium-sized companies working on the light industry field. It presents a new motivation system for the employees to increase up those products, for those who are at the bottom of the producing rankings of the company, moreover to develop their performance to reach the average level. Here has to be mentioned that, the employees at the bottom of the performance rankings producing under the average levelobligates totally the same amount of circulating and standing capita of the company, lead to the intervention of the management. The norm based requirements within the framework of the production system were completed to provide the more efficient working of the employees, besides strengthen their skills and their loyalties to their colleagues. As a result of the innovation of the performance management the product of the employees standing at he bottom of the rankings increased up considerably. It has manifested formerly in the decrease of the pointing error fixed to the personal monthly norm, moreover it showed the catching up of the employees standing at the bottom of the ranking to the middle. The case that the employees at the bottom get closer to the others in the middle of the ranking helped to contribute to achieve the strategic objectives of the management through reducing the average cost of the producing, since increasing the budget of the producing activities.
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Development of Entrepreneurial Skills Among Engineering Students
209-225Views:180Education is the major contributor to the development of culture, including entrepreneurial culture as well. The aim of this study is to demonstrate the characteristics of a successful entrepreneur and how can be developed the initiative and entrepreneurial competence through education. The task of the education is to help young people develop qualities that are the basis of entrepreneurship. Such is creativity, initiative, responsibility, risk-taking and independence.
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Digitalization Process by Agricultural Companies, or the Results of a Questionnaire Survey
625-636Views:261The term “information society” first appeared in Japanese social science in the early 1960s (Z. Karvalics, 2007). The interpretation of the concept has undergone significant changes over the past decades, showing that dynamically developing societies, which are undergoing constant changes due to the rapid development of information, information management and the dynamism of the digital world. The close relationship and connection between information and information technology has become a fundamental factor in the societies of today, the organizations life, which generates inevitable, sometimes serious debates and profound changes. Economic operators must necessarily be resilient to technological change. We should think of the time of the Industrial Revolution, when modern weaving machines flooded the factories. Otherwise, a resilient organization will not survive in an evolving and ever-changing dynamic economic environment. Of course, this is true of agriculture as well, just as it is for other sectors of the national economy. On the one hand, my assumption on the basis of which my questionnaire was compiled was that enterprise management systems are increasingly used by enterprises in agriculture due to the diversification of activities. At the same time, I assumed that the size of a business could influence the use of information technology (hereinafter IT), so I hoped that my research would provide reliable data on this as well.
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The Empirical Examination of Different Customer Types
92-100Views:157The proper knowledge of customer types is essential for a well functioning company – regardless of its size. In current research we wanted to identify and characterize the particular customer groups with involving 302 persons. During the examination we measured the attitudes of these participants with the help of a statement range based on Kotler’s classical customer types. For the identification we made factor- and cluster analysis, and we could separate five different factors. They received the names of Angry, Definite, Discursive Passive, Experience Shopping and Indefinite - based on some related statements. After the cluster analysis – along these factors - we could separate four different groups: Young Impulse Shoppers, Outspoken Definites, Negatives and Born Customers. Each and every group requires different communication, sales attitude and service morals.
