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CSR Reporting Practices of Hungarian Banks
70-81Views:156The disclosure of information on the exercise of corporate social responsibility (CSR) is the tool most frequently used by companies to promote understanding of the social and environmental performance of an organisation and to improve relationships with stakeholders. For most of the world’s largest companies, reporting on non-financial information appears to be a continuing trend, so it is essential to present the new corporate reporting trends of the 21st century. The disclosure of socially responsible information will be analysed, with a focus on the application of the Global Reporting Initiative guidelines related to CSR. Global Reporting Initiative (GRI) is the best-known framework for voluntary reporting of environmental and social performance by business worldwide. The main objective of the paper is to explore the corporate voluntary disclosure practices of the listed and non-listed banks in Hungary. The extent of voluntary disclosure has significantly improved for decades worldwide, but the situation is not that obvious regarding the Hungarian financial sector. This paper aims to describe the status of disclosure practices of corporate sustainability in the annual reports, sustainability reports or CSR reports of the banking industry in Hungary. Also, increased corporate visibility and financial risk increase stakeholder demand for transparency on the social impact of financial institutions and their CSR practices. Finally, the analysis and subsequent comparison of available CSR reports of banks will be presented.
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Evolution, Place and Role of Controlling in a Business Organisation
466-477Views:1063The development of controlling can be traced back to the beginning of 20th century. Thus it has one century of continuous scientific development. Controlling has been applied in fields such as finance, manufactureproduction, and trade sales. In financial accounting different activities have been formed for planning and accounting costs and performance. These activities were integrated by management accounting, which serves the ever growing information needs of the management. In addition to the operational functioning of growing and diversification companies controlling covers even the strategic level. The primary focus of controlling activity at 21st-century businesses is to improve organisational performance. Previously there were differences between the German and Anglo-Saxon trends. According to the German trend controlling is a set of instruments that provides the required information needed for management decision-making and based on it planning, monitoring, and controlling activities could be achieved. Furthermore, the German trend considers that a particular department is responsible for controlling activities. Conversely, according to the Anglo-Saxon conception controlling is considered as a part of management and managers are responsible for efficient allocation of resources, the so-called „management control”, carrying out planning and controlling tasks at the same time. Some differences can be recognised between the two conceptions about where is controlling placed in companies within the organisational framework. However, it can be stated as a fact, that management and controlling are inseparably linked, and the aim of both fields is to increase the performance of a company.
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Framework of Industry 4.0 Technologies
213-223Views:1487The increasing competition and globalization have changed the micro- and macro environment of companies worldwide. The number 4.0 marks the fourth industrial revolution, bringing information technology and automation closer together leading to fundamental changes in production methods. It is not only about the penetration of technology but also about the paradigm shift in business processes. Industry 4.0 is becoming a daily reality for domestic companies as well, giving rise to the era of high-level interaction among production resources and different players. Industry 4.0 will transform the structure of production and change global competitiveness giving enterprises new opportunities to create added value. In my study I presented the concept of Industry 4.0, its framework and innovative technologies. I described the intelligent logistics solutions and the most important advantages of Industry 4.0. Essentially, the use of these tools include in addition to the explosive development of industry the digitalisation of the entire economy affecting society as a whole. It is of great importance that small and medium-sized enterprises also respond to new technological opportunities otherwise will significantly lagging behind in the digital transition.
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Cultural diversity, Intercultural Competence, Tolerance and the Economy: a Review
98-109Views:205Cultural 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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Applying New Innovative Market Research Methods in the Innovation Process of New Products
56-69Views:243The innovation environment has changed a lot in the recent years, companies and their enterprises concentrating on product- and process innovation have undergone a lot of changes. According to GUPTA et al. (1986) product innovation is a multidisciplinary process. Although, all functional interfaces are important in the product development process, the research and development – marketing interface is one of the most difficult one. In the last two decades the incredibly fast penetration of the internet has more and more effects on the consumer attitudes. It encourages market researchers to apply such methods by which they could get as close as to the consumers to know their attitudes without taking them out of their natural habitat. In this study our aim is to concentrate on the first phase of the product innovation, which is the exploration of insights and attitudes. In this phase we can use the classical, conventional market research techniques if we want to get primary data, such as focus group interviews, questionnaires, in-depth interviews, but there are new methods as well. One of such novel methods is netnography. The biggest advantage of this research method is that the researcher can observe the consumer groups’ state of mind and decision-making mechanisms through publicly available communication sources in their natural environment. In this study it will be analysed how the directions of netnographic researches have changed by the dynamic changes of the internet. Besides, online participants’ attitudes towards healthconscious nutrition are analysed in practice. As a result of this study, special groups could be identified, which can provide a new perspective for the companies operating in this field beside the classical segmentation techniques. These groups can be the ones which draw up latent market requirements, and thus, helping the companies’ innovation processes.
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Level of Digital Competences and the Examination the Relationship Between Unemployment and in Job-Trainings in the European Union
197-209Views:261In this study we examined the digital competences by the EU Member States between 2015 and 2017 based on data of OECD and EuroStat. We wanted to know, are there any relationship between the unemployment and the level of digital competences. We realised that, in these countries where the percentage of individuals with basic digital skills is higher, there the harmonized unemployment rate is lower, than in those states where the individuals have above-average digital skills. In the case of lower educated states (where the citizens do not have a general digital knowledge), the unemployment rate is higher. We researched the openness of companies towards individuals with different levels of digital knowledge. In these countries, where the more educated people live there provide the comapnies more chance to take part further trainings, than in the less educated countires. We found a moderately strong negative correlation between the group of individuals who have low overall digital skills and in-work trainings. It means, if a country has individuals with a few digital competences, there the organisations will not offer trainings them. According to the available data we could divide the EU Member States in three clusters. These groups are underdeveloped, developing, developed countries. The biggest difference is between these groups in the quantity of skilled people, however the distribution of individuals in the developed group also shows interesting features. We realised in these countries the so-called „reverse competence pyramid”. It means, as the level of skill grows, the number of individuals, who own it, grows as well. As a continuation of the research, it would be worth examining the countries regionally, so it would be clear where are, the "digital kingdoms" can be found. On the one hand this could help the state in the allocation of digital education, on the other hand, it would also improve the position of companies. They could create regional centers in less developed countries, thus outsourcing expensive high added value work.
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Analysis of the Benefits of SAP S/4 HANA Cloud IT/Is Investment in the Case of PT XYZ
13-24Views:369PT XYZ is one of the largest telecommunication companies in Indonesia. In 2020, PT XYZ implemented a digital transformation to increase its excellence by investing in industry telecommunication and information systems (IT/IS) enterprise resource planning software called SAP (System Application and Processing) S/4 HANA Cloud. The study aims to analyze the benefits of these IT investments made in PT XYZ. The results are carried out using the Comparative Analysis of Financial Statements followed by Business Value and Financial Feasibility Analysis and the Cost Benefit Analysis (CBA) method between 2018 and 2021. It can be revealed that the SAP S/4 Hana Cloud investment benefits the company's operations, which are identified in the form of 5 sub-categories that fall into required categories based on Ranti's Generic IT/IS Business Value.
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Classification of Economic Activities in Colombia According to Workplace Accident and Disease Rates Using a Data Clustering Algorithm
44-55Views:115In 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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Why Public Sector Projects Fail or Succeed in Pakistan- A Model for Evaluating Impact of HR Management Practices on Project Success
77-90Views:352Employees are the most important assets of an organization. As quality human resources become scarce, companies need to pay more heed to the satisfaction and motivation of their employees. If employees are motivated towards work, then it is likely to yield better results. This study will examine the role of Human resource management (HRM) practices upon New product development (NPD). NPD involves technical, marketing, and financial risks organizations undertake for developing new products and services. Effective project planning and control are valuable for decision-making. The analysis of the impact of HRM practices on NPD, project success, and organizational benefit is based on data collected using a cross-sectional design via a survey questionnaire. The questionnaire consisted of items related to HR practices, New product development, Project Success, and Organizational benefits adapted from previous studies. Respondents working in 10 large-scale public sector projects executed by National Database & Registration Authority, Pakistan were selected for the study. Therefore, the results of the study can be generalized to similar projects executed by the public sector in Pakistan. From the findings of data analysis, it has been concluded that there is a significant association between HR practices and project success, but no significant relationship has been established between new product development and organizational benefit. Therefore, it can be concluded that HR management practices have a significant impact on public sector project success in the case of Pakistan.
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Requirements for Multicultural Competencies Defined by a Focus Group
44-56Views:217Globalization, the spread of multinational companies and the enormous development of information technology can lead to a new trend in employers’ requirements. However, being employed by an international company is a real possibility for any employee in any part of the world. Even if they do not have to work abroad, employees may have to function in a multinational environment in their home countries. A favourable combination of intercultural competencies is a key factor in the selection and development of employees. A possible way of measuring these competencies can be the Multicultural Personality Questionnaire (MPQ). First of all,on the employers’ part, it is important to clarify the exact requirements and competencies (dimensions) to be able to draw up an ‘ideal profile’. We prepared two versions of the MPQ (91-item; 5-dimensional) and used them to test employers’ requirements in the selection process regarding the dimensions of cultural empathy, open-mindedness, social initiative, emotional stability and flexibility. This study describes the results of a focus group interview, which took place in 2017, revealing the importance of multicultural competencies from the employers’ point of view and examining the conditions of the adaptability of the two questionnaires. We used the focus group method to find out in what conditions the questionnaires canbe used in a selection process. What possibilities and limits are therefor using the direct five-dimensional questionnaire? What aspects do we need to take into consideration in expressing and interpreting the requirements in the results of the test?
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The Effect of Player Transfers on Football Companies Valuation
Views:265Transfer seasons are one of the most highlighted periods in world of football. The market of player rights forces the greatest european clubs with their enormous budgets to compete with each other in order to aquire the most talented and most succesful players. It is not uncommon to sign players for tens of millions of euros, to this extent these expenditures are seriously affecting clubs bottom line. However, despite the expenditure nature of player transfers the value of these clubs increase, based on the best known measurer for companies valuation: the stock exchange. In my research the effect of player transfers ont he valuation of football corporations are presented through market value development of stock market listed clubs namely Juventus and BVB Dortmund. Based on my results if the examined clubs were signing players according to a player transfer policy considered as succesful the value of examined clubs had increased through stock market price independently of player transfer balance. Moreover the effect of coronavirus could had been noticed, since both clubs valuation decreased heavily in the 2020 summer transfer window probably due to the revenue loss caused by the pandemic.
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An Overview of the Situation of SMEs in Hungary in Catching up to Industry 4.0
72-80Views:173Since I have been working I have been in contact with small and medium-sized enterprises (SMEs) and large companies in various ways. I have thus been confronted with the disadvantages of the former in terms of the introduction and use of 4IF technologies. Yet most of them are aware that to remain competitive in the market, they cannot avoid digitising their operational processes to some extent. I have also found that this mainly depends on the characteristics of the organisation; for example, its orientation. Domestic SMEs are therefore currently at a competitive disadvantage in the market. However, there is no information on whether there is a trend towards development and where they themselves should develop. This would help them to develop the right, achievable vision for the future, coupled with a feasible business strategy.
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Management Practices from Christian Point of View
14-30Views:200Globalisation is a complex and worldwide process overarching historical times and continents. However the phenomenon brought efficiency and new opportunities to companies, providing practically free access to raw materials, labour and knowledge, it also caused negative effects like the degradation of the biosphere, greater social and economic inequality especially in the developing countries. There are some companies operating worldwide which have acquired great economic power and influence. and governments have only limited possibilities (if any) to regulate their operation. The expenses of profit maximisation are high, which are often ‘paid’ by the socialnatural environment (as externalities) and/or by humans. The aim of our study is to overview how current business relations could be formed to be more „human friendly”. The research is done from a Christian philosophy point of view, focusing on the employees as the major stakeholder group of the comanies. As part of the study some practical examples and Hungarian organisations related to this topic are introduced in order to highlight the relevance of the topic.
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Environmental Considerations in Aircraft Manufacturing Industry Through the Example of Boeing Andairbus Companies
59-66Views:140Aircraft manufacturing industry has developed dynamically in the last decades. Reinforced polymers have become the most dominant raw materials, while the recycling rate of the generated industrial waste has also increased. The fuel efficiency of the engines has increased, and the emitted CO2 per capita has significantly fallen. However, the environmental impact of the aircraft manufacturing industry seems to reach a permanent level. In this study, we have analyzed the environmental impact and the environmental considerations of the aircraft manufacturing industry through the examples of Boeing and Airbus companies. Our goal was to determine the relation between industrial growth and the environmental impact, particularly to the potential innovations.
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The Opportunity of Analysing Global Career
115-124Views:243The study aims to define global career and to present an applicable method. Internationalisation and globalisation indisputably have affect on companies actions. The value of human capital as a resource has got notably higher than before. To retain competitiveness, multinational companies have to focus their sight on employees with globally usable knowledge. In today’s globalized world international assignments are particularly frequent. It is a must to differentiate between working abroad willingly or sent abroad by the company. Achieved and applied knowledge from international assignments are essential ingredients of global career. However, the inappropriately planned career structure can cause damage for the company and for the cost effectiveness of the HR department. It is vital to appoint the most suitable employee for the assignment, to increase the company’s success rate and to maximize the individual’s performance as soon as possible. The effectiveness of the selection has influence on performing a successful assignment in the process of the career path.
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Innovation, Artificial Intelligence in Contingent Work-Force Management
571-590Views:669In recent years, the global use of contingent workers is rapidly increasing despite the increasing quantity of artificial intelligence applications in business. The question is "how these companies leverage the use of artificial intelligence to enhance contingent workforce's management?". The ideal goal of this paper is to develop a purely conceptual application of innovation, artificial intelligence (AI) adjacent to contingent workforce management(CWM). The researcher used qualitative information gathered from various authors and observations to reinforce the usage of AI. One of the critical tools to integrate with contingent workforce management for reduction of time spent on human resource administrative tasks is AI. There must be a transformation of thinking, accepting positive organizational change, utilization of technology and openness to new technology to foster AI. Along with that, integrating contingent workforce management with AI reduces risks and costs, increases efficiency and quality of work. Innovation and Artificial intelligence have been used in five pillars performance of contingent workforce management to mitigate the challenges associated with it.
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The Impact of Electrical Vehicles on Sustainability: Jordan as a Case Study
393-403Views:217The Global concern is moving toward making a revolution in favor of exploitation of renewable energy in order to improve environment conditions, limit emissions and minimizes consumption of non-renewable resources within the planet. In this context, it is necessary to focus on the transport sector as it contributes of at least 30% of the total primary energy consumption. Therefore, a set of rules must be developed to maintain economic, environmental and social sustainability to address the problems so as not to increase their severity and these cannot be done unless there are joint measures and regulations from governments, companies, manufacturers and users. Unfortunately, the Jordanian transport system mostly depend on the individual transport which supported by cars, and that because of the weak role played by the public transport sector, especially at the capital, Amman. Buying hybrid cars (internal combustion engine + electric motor) and Electrical Vehicles (EV), in the past few years in Jordan is increasing, which is compatible with the global trend to use Electrical Vehicles (EV) instead of Internal Combustion Engine vehicles (ICE) powered by fossil fuels, this issue will have a direct and indirect impact on gas stations companies, also it will have direct impact on labor sector and the current car industry since electric charging stations as well as EV manufacturing is not labor intensive. The main purpose of the study is to show how much it is necessary now to start theoretical assumptions through studying the expected annual increase in passenger cars and its impact on sustainability and predicting the future fuel consumption and emissions and compare them with the base situation.
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Study of the University Electronic Games E-sports League and Its E-sports Players
52-61Views:153E-sports are competitive video games coordinated by different leagues and organisations. E-sports players belong to teams or different managements, which are sponsored by various economic companies and establishment. In the beginning, only offline and then online competitions were organised, and nowadays an offline final takes place in sports halls at the end of an online qualification round. The primary objective of the present research is to study the e-athletes participating in the University Electronic Games (UEG) e-sports competition. In addition to the e-sports players, I consider it important to examine the tournament itself, how the players interviewed rate it and what motivated them to participate again. I conducted an online questionnaire survey among the participants of the three seasons of the UEG online tournament organised by the University of Debrecen. UEG is the largest university e-sport tournament in Hungary in terms of its number of participants, which is why it was selected for the study. The participants in the study are motivated to compete in order to achieve success and enjoy competing to win, for them e-sports is a self-fulfilment. They keep up to date with national e-sports news and competitions through social media and the university mailing system. In general, the participants rate the UEG e-sports championship highly. The organisers need to improve the organisation of the tournament and their preparedness to run a tournament of this size. Their strengths are their helpfulness and their accurate and precise information about the tournament.
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Organizational Applications of Coaching Approach at Strategic Level
1-13Views:433Main topic of this paper is business coaching which is an individualized leadership development tool working with actual challanges of leaders through developing and transforming from good to great. By using coaching in organizational level traditional and innovative organizational cultures can be radically changed. The change is possible because under the influence of coaching there are strong engagement in individual level. Coaching results growing creativity and efficiency in planning and implementation in organizational level, and behaviourial changes in individual level at the same time. It has positive effects on people’s motivation, because they have time and space for doing and living changes, it doesn’t need revolutionary changes from them. Aim of this paper to analyze and show application of coaching approach in organizational level through examples of companies.
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Link between Corporate Philanthropy and Corporate Financial Performance: Evidence from Pakistani Textile Sector
1-12Views:136Literature highlights the immense potential of Corporate Philanthropy (CP) for generating social and economic benefits. The debate on economic benefits align corporate philanthropy with the business bottom line arguing that it can be a significant determinant of corporate financial performance. This research is intended to extent this debate by providing sector specific perspective through analyzing the sample of Pakistani public listed textile companies. Results of the study show that corporate philanthropy has a significantly positive relationship with Return on Assets (ROA) but with Return on Equity (ROE) the relationship is found to be insignificant. The previous year’s financial performance moderates the relationship between CP and ROA but the interaction effect for ROE is insignificant.
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Business Students’ Attitude to Social Responsibility
1-10Views:277The companies’ most important goal is the satisfaction of consumers’ needs and the profitmaking. But nowadays the companies have to deal with the activity of corporate social responsibility, too. Therefore it can be interesting to research about the next questions: can ethics be taught? Do we have to teach ethics in the schools and especially in the business schools? What are the students’ attitudes toward the social responsibility? Are students sensitive and open-minded connection with this issues? The aims of the study were to examine responsible management attitudes among business students at the University of Debrecen (Faculty of Economics and Business). We draw their CSR pyramid (based on Carroll model) and present their opinion in reference to business education’s role in social issues.
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Some Sources of Misunderstandings in Intercultural Business Communication
91-101Views:1294It is always a big challenge for all types of companies anywhere in the world to survive in the globalised and accelerated world. Their primary objective is to stay competitive, keep or even enlarge their market share while keeping their costs at a minimum level. These corporations often cross borders and operate on a multinational level. In order to do that successfully they need flexible workforce: people who have a high level of intercultural competencies and can help their corporations to achieve their aim of profit maximising. It is widely accepted that culture and languages are among the most significant impacts on intercultural communication. In this paper first I am going to interpret intercultural communication and the role of culture and then look at different intercultural skills and the role of languages in intercultural communication. Some areas that might cause problems in intercultural business communication will also be described.
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The Role of Information Security in the Business Processes
1-13Views:123Information security (namely, confidentiality, integrity, and availability of business-related data) is an issue which companies attach increasing importance nowadays. This is, however, not a self-centred goal to achieve, but an (additional) means businesses use to work towards security in their overall operations. In addition to briefly presenting two case studies on information security practices, this paper offers a survey of terms and management practices linked with process security. Business continuity planning and risk management techniques - as outlined here in connection with information protection controls - may cover all business processes at any company.
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Performance Management Innovation is a Medium-Sized Enterprises of Light Industry/
1-9Views:233To 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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Present and Future of Industrial Robotisation
13-24Views:137The following paper analyzing the installation of industrial robotisation in sectors and regions, in addition carry out forcastings on historical data. In recent years, automation and the use of industrial robotics have increased exponentially in the manufacturing sector. Given that companies prioritize enhanced production efficiency, quality assurance, and safety, it is evident that substantial investment and implementation of automation continue to occur in manufacturing facilities worldwide. The number of industrial robots globally has been growing steadily since 2010. However, the rate of growth has slowed from 2020 onwards. The impact of the Covid-19 epidemic was still felt in 2020, but the deployment of industrial robots increased significantly in 2021. Global industrial robot deployment is projected to continue to grow in the coming years, although the rate of increase may vary between regions and countries. The analysis showed a number of differences between regions in the number and growth rate of industrial robot deployments. Asia and Australia are the largest markets for robots and the number of robots deployed is expected to continue to grow in the future. Europe is the second largest market and, although growing at a slower rate, industrial robot deployment is also increasing steadily. In the Americas, growth is slower than in other regions, but still increasing. Global growth trends suggest that there will be further growth in the coming years and that the deployment of industrial robots will become more widespread in different parts of the world.
