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The Efficiency of Intellectual Capital as a Crucial Factor of Innovation
419-428Views:244In 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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Operating a Webshop in Rural Areas
242-251Views:199The importance of e-commerce in Hungary is unquestionable. 66% of the population is regular internet users (I3), every fourth person uses it on a daily basis. Online sales have increased from 137 billion HUF in 2010 to 427 billion HUF in 2016, while offline sales were not able to reach this growth (I1). Undoubtedly, online sale has become a very valuable market. The age group really valuable as consumers spends about 6 hours a day online, out of which 3 hours are active usage (I2). The Internet is also the most important source of information and keeping in contact, as 41% of the population uses it method. The availability of the Internet in Hungary is literally independent of the geographic location, thanks to the Digital Renewal Action Plan in Hungary's current strategy, as one of its main chapters is "Enhanced and Secure Infrastructure for All." (Botos 2013) plan. There are many unfavorable processes in Hungary's rural areas. Of these, emigration and the abandonment of the local economy are outstanding. To stop these processes, the "National Rural Strategy" (2012-2020) was created. Its most important areas are employment growth, balanced and diverse land and forest management, production structure, restoration of local food production and food markets, local energy production, strengthening the local communities, improvement of population patterns and conservation of natural systems and the biodiversity. The integration of rural economies into the on-line marketplace and their linkage to different DBEs not only vertically but horizontally can be one of the keys to their survival and development. The situation of businesses on the on-line marketplace in the countryside is very special. On the one hand, they are more favourable in many aspects of their operation, but in some cases they have disadvantages that fundamentally threaten their survival. The purpose of this article is to get to know this environment, map its benefits and drawbacks. For this, we use the results of in-depth interviews conducted with businesses operating on an on-line market in rural settlements.
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Servant, Ethical and Authentic Comparative Analysis of Leadership Styles in the Light of the Challenges of the BANI World
1-10Views:32In a globalised and accelerated economy, managers are under increasing pressure to reconcile organisational goals that are independent from human being with the reality of human relationships. The human being, as a being with intellect and senses striving towards happiness, is the focus of positive leadership styles and is their major concern in the field of management theory. In this article, three such positive styles, authentic, servant and ethical leadership principles and their operating conditions are compared using international literature. The literature time span of about two decades shows that the evolution of the ethical leadership literature has slowed down, while the authentic and servant leadership literature has continued to evolve and is still evolving today. The comparative table that appears in this study highlights both commonalities and distinctions, in that, in addition to high moral and ethical standards, the authentic style focuses primarily on the person of the leader, the ethical leader on the ethical standards of the organisation, while the servant leader focuses on the development of the well-being of the subordinate, the other person, even through self-sacrifice. We intend to use the results of this research to investigate measures of positive styles, preparing the scientific ground for future primary empirical field studies.
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Exhaust System Muffler Volume Optimization of Light Commercial passenger Car Using Transfer Matrix Method
132-138Views:183Nowadays, the automotive industry is focused on weight and size reduction. Main advantage of this weight and size reduction are improving the fuel economy. The specific fuel consumption of a vehicle can be improved through e.g. downsizing area of heat loss, if we focus on vehicle with weight reduction. Weight reduction can be done by replacing material or by changing the size (dimensions) of components. In the present work we have focused on Audi A6 muffler, troubleshooting and optimizing the muffler by changing pipe length of inlet and outlet, also by replacing the original mesh plate to porous pipe. Based on optimization, prototype has been built with the help of 3D design tool CATIA V5 and the calculations of transmission loss (TL) have been performed by MATLAB. Plane wave-based models such as the transfer matrix method (TMM) can offer fast initial prototype solutions for muffler designers. The principles of TMM for predicting the transmission loss of a muffler was used. Result of this present study of an existing muffler has been analysed and then compared with vehicle level test observation data. Noise level have been optimized for new muffler design. Other literatures were played significant rule for validate our results.
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R&D infield of “Waste-to-Energy”in Institute of Raw Materials Preparation and Environmental Processing, University of Miskolc
49-57Views:118The importance of research and development in the field of „Waste-to-Energy” is vital in our modern society trying to establish the circular economy. Such R&D activity has been carrying out at Institute of Raw Materials Preparation and Environmental Processing for decades in several directions. This paper deals with the main results of research on refuse derived fuel from MSW, biogas production, briquetting of biomass, as well as production of fluid fuels.
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Sustainability, sustainable supply chain management
322-328Views:798With the rapid development of the world economy, the growing scarcity of natural resources and the degradation caused by pollution, environmental protection has become a major concern for countries and regions of the world. Sustainability is a common subject in many parts of the world and the various research areas among policy makers, journalists, scientists, universities and social debate. It is generally accepted, that companies also play an important role in addressing the challenges of sustainable development. In this role, making a key challenge to balance often conflicting pressures caused by sustainable development, that is, the level of corporate economic performance against environmental deterioration and social disruption. Effective integration of sustainability principles into companies requires action beyond the borders of organizations. The issue of sustainability is becoming more and more prominent in corporate governance. One of the most important area of supply chain management is for companies to gain a competitive edge in the market. This has a significant impact on the natural environment, and there is a growing need to integrate environmental thinking in supply chain management and processes, which is why companies are increasingly focusing on sustainable development, taking on more CSR initiatives and achieving a greener supply chain. Sustainable and green supply chain management practices have been developed over the past decades, trying to integrate environmental considerations into organizations by reducing unwanted negative consequences for the environment of production and consumption processes. In this article, I have examined the issues of sustainability and sustainable supply chain management, mainly based on descriptive secondary literature.
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International Coffee Trade Network Analysis
393-404Views:252Coffee 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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Investigation of Information and Communication Technologies (ICT) Usage in the Business Relations of the Agri-Food Econ
21-29Views:120Small and medium-sized enterprises are the engines of Europe's economy. This is demonstrated by the European Small Enterprises Charta, adopted in 2000, and by the fact that this sector employs more than 90 million people. Appropriate information and communication technology is essential to maintain their ability to function effectively and competitively. They need to know how to use these technologies for their smoot growth in productivity. The purpose of our study is to assess the regional ICT penetration of the Hungarian SME sector and compare this to that of the EU Member States.
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Price Analysis Practices in the Pig Sector
1-12Views:61The analysis of sales prices has become a particularly important topic in pig production research, including statistical analysis. With globalisation, we can say that today we are talking about a sector constantly exposed to the effects of the world market. It is also worth pointing out that, compared with other sectors, the impact of external regulation and influence is less pronounced. Thus, the aim of the present research was to identify the journal articles published on the subject of price analysis and, on the basis of these, to establish the correlation with the methodologies often used. It examines the spatial location of price analysis. The results obtained show that the practice of price analysis is mainly carried out in the context of market leading countries, usually on the basis of a cross product chain issue. The research shows the emergence in recent years of increasingly sophisticated methodologies that allow more accurate conclusions to be drawn, while also facilitating planning from a practical point of view.
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Menedzsment szakos hallgatók a munkaerőpiacon: az elhelyezkedés mintázatai
1-14Views:129The present study analyses the labour market career of graduates from three management majors. Majors in connection with the economic and engineering educational field (economy and management, engineering manager, human resources manager) belong to the average and in numerous aspects to the good status majors and professions. The social recrutation of the majors analysed is middleclass. According to their labour market success, such as the duration of finding a job, the level of employment and income they are among professions of favourable position. The knowledge gained at university may be considered well usable in their work. Their satisfaction with the different components of their work is similar to other university graduates, they are most satisfied with the content of their work, and less with its prestige and possible income.In this study we analyse 2011 and 2012 databases of the Graduate Tracking System.
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A Selective Study: Camels Analysis of Indian Private Sector Banks
277-283Views:144Banking sector is one of the fastest growing sectors in India. Today’s banking sector becoming more complex. Evaluating Indian banking sector is not an easy task. There are so many factors, which need to be taken care while differentiating good banks from bad ones. Performance evaluation of the banking sector is an effective measure and indicator to check the soundness of economic activities of an economy. The contribution of RBI and other policy maker, the banking industry has witnessed regulatory requirements like BASEL III norms. These regulatory changes have influenced prominent improvement in efficiency and performance of the Indian Scheduled Commercial Banks in the past few years. In the present study an attempt was made to evaluate the performance & financial soundness of select Private Sector Banks like ICICI,HDFC AND YES bank using CAMEL approach from 2013 to 2017 as well one way anova method. It is observed that on an average ICICI was at the top most position. It is also observed that yes Bank was at the bottom most position in selected CAMEL ratios.
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Sport Civic Society – Approaches and Facts
158-166Views:218After the change of regime in Hungary in 1989, the domestic civic sphere started to improve, and after numerous change in the legal regulation, currently the Act on Civic Organizations (Act 174/2011.) rules the operation of the sector before all, supplemented by additional legal background. The vital component of the new regulation is possibility of the appearance of the novel organizational form, the civic society, which is quite odd even considering the past and even on international level. The database enabling the statistical overview of the domestic nonprofits publish the end of 2019 provides no information on the data and operational features for this organizational form, which provides a thorough reason for the researcher to be interested in the topic and the organizations. Through the possible secondary data, a primary database of a lately done sports civic organization related research includes such basic data (even its sample height is small), which may be considered as a starting point at the examination of the specifications of the sports related civic societies.
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Framework of Industry 4.0 Technologies
213-223Views:1416The 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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Comparing higher education preferences with labour market needs
382-392Views:375Hungarian institutions of higher education play an important role in national economy: they ensure intellectual labour with appropriate knowledge and professional competencies for Hungary in all profession fields. If the rules of private sector are applied for these institutions – interpreting it within a certain framework as the quality of education and research has to be maintained and there are social benefits associated with them -, they owned by the state, their management is the institutional leadership and their consumer is the labour market. Thus, training programmes must or should be developed in accordance with the needs of labour market. It represents a major challenge, even without taking into consideration other factors, since future requirements should be aimed (at least a 3-5 year training period later) – along with a rapid technological development. Even if the state makes significant efforts to adapt training programmes to meet the requirements of the labour market demands, students who want to further their education pay limited attention to these factors in their educational decision-making. Partly for this reason, career transition or shortages may occur in the case of certain professions. This paper seeks to address to what extent the most popular training programmes meet the expectations and to what extent the degree earned may be regarded as a ‘success’ in the labour market; moreover, if they do not overlap each other, how much applicants prefer those training programmes which are to be considered the most successful based on recruitment information. Admission statistics of Education Department and database of DPR provide the necessary information for the period 2010-2017 and these data sources enable authors to follow-up students from application to higher education until employment.
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CSR Strategy Creation
344-354Views:701The 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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Environmental Index and Environmental City Resilience Index calculation for Four Settlements in Szabolcs-Szatmár-Bereg County and Four in Győr-Moson-Sopron County
17-29Views:110Globalization and urbanization pose a number of challenges for different settlements. Stakeholders seek to cure global problems through sustainable projects. Since the Brundtland Commission's definition of sustainable development in 1987, the approach to sustainability has permeated all dimensions of the economy, including the environmental dimension. In Hungary, IBM conducted a study (Lados - Horváthné Barsi, 2011), in which the search for green, sustainable solutions defined in the definition of a livable city plays a key role. The characteristics of sustainable cities, that they are resilient to disasters, return to equilibrium after a shock has occurred (Seeliger, Turok, 2013). Resilience can also be mentioned as one of the pillars of sustainability. In a UN-Habitat statement, resilience refers to the ability of any urban system to withstand and recover from multiple shocks and to maintain the continuity of its services (OECD, 2018). In my study, I would like to present the results of the environmental index and the Environmental Urban Resilience Index (EURI) of the four largest cities selected on the basis of the population in the easternmost and westernmost counties of the country.
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How Does Public Debt Change when the Next Crisis Comes - and It Will Come!/the Expected Evolution of Greece's State Debt in the Next Crisis Period/
91-104Views:227It has recently been announced that Greece may withdraw from the Euro-Zone permanent rescue fund's aid program because it has successfully met the conditions imposed on it. Creditors and credit qualifiers also agreed that the Greek economy was on a good growth path. That is why there is a chance that by 2030 the current sovereign gross debt of 182.7 per cent of GDP will fall to 123.3 per cent. The author finds this statement unfoundedly optimistic. He argues that the Greek debt ratio – despite the current optimum economic fundamentals – does not seem to be sustainable. He sees greater probability that in the near future it will again be necessary to release some of the Greek debt. Debt reduction will also mean a new orderly state bankruptcy. The study seeks to highlight how vulnerable and risked the sustainability of current Greek debt financing. Using a macroeconomic model, it shows and justifies how the Greek sovereign debt changes in the case of a crisis that is only half the extent of the previous subprime crisis. If this happens, by 2023, the state debt will rise to more than double the national product, and by 2030 only to the present, otherwise critical, level. It follows that the high risk of financing Greek state debt remains unchanged.
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The Challenges of the Labour Law and Economic in the Future Labour Market
116-130Views:733The aim of the study is to examine how the effects of globalization affect the global labor market, and how high-level automation and digitalization affect the expectations of labor market actors and the world of labor law. We analyze the legal framework and the economic and social utility of acquiring competences for new challenges in the industry. We will look in more detail at the future of the low-skilled labor force in a changing labor market as a function of acquiring new competencies. We believe that changes in the labor market and novel processes will also pose new challenges for employers and employees. Changes in the labor market raise the question of what kind of benefits an outgoing worker will receive until he or she acquires new competencies. Is the social welfare system in the current sense capable of supporting lifelong learning, or is it necessary to explore alternatives such as basic income? All this needs to be done in the light of the legal and economic scrutiny of the concepts of efficiency and economy. This is because acquiring competences for the new employee also brings new added value.
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Entrepreneurial Climate – Management of Women's Entrepreneurship
69-74Views:65Entrepreneurship, which people can have without formal economic education, is a tendency acquired through upbringing in the family, competition in school, implies risk and constant self-affirmation through the acquisition of profits and losses, so that it represents the sum of successes and failures, victory and defeat. In the last thirty years, female entrepreneurship has been developing more and more, especially in less developed countries, the reason for such growth is primarily reflected in the promotion of equality between men and women, the right to education, and the development of democracy. Female entrepreneurship is a significant factor in economic development, so the national economy becomes richer. The subject of this research are the entrepreneurial climate in the Balkans compared to the world in terms of female entrepreneurship, what is the role of the family in starting a small business, as well as its survival and growth. In the study the results of previous research in this area. The research method is based on a comparative analysis of studies dealing with this problem from the territory of Balkans. It can be concluded that in the Balkans, female entrepreneurship is still in its infancy, it is about a very small percentage of female entrepreneurs, although according to research, it is evident that there has been no major progress in the last 15 years. Recommendation In the countries of the Balkans, there is a good entrepreneurial climate for the development of female entrepreneurship, especially because women can work from home, and in the future it is necessary to go in this direction.
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Macroeconomic Analysis of Expenditures on Education as Human Capital Investments
520-530Views:134The importance of actions on adaptation to economic change associated with the knowledge-based economy has continuously grown both regional and national level. Individuals' flexibly adjust and the knowledge acquired in all forms of education is very important factors in the evolving knowledge-based economies. We examine the fiscal and private expenditures on education among OECD countries between 2005 and 2013, and we analyse the development of education expenditures with particular attention to Hungary.
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Do Changes in the Economic Role of States through Privatization matter?: The Brazilian Case
125-136Views:154In market economies, the subject of scientific research is the extent to which the state can contribute to the sustainability of development. However, the question is to know where the boundaries of the market and the role of the state lie. The study briefly introduces different views of the state's economic role and how states have changed the proportion of their entrepreneurial assets. Among these, it highlights privatization, which is one of the significant segments of today's economic policy practice at both micro and macroeconomic levels. It then describes Brazil's economic circumstances that led to the formulation of a proper size privatization program. Finally, the socio-economic factors that, according to the author, make the realization of Brazilian privatization plans uncertain presented.
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Development Lies in Corporate Processes
358-369Views:234Nowadays, our rapidly evolving world is characterized by constant change. Organizations need to be prepared and responsive to these systematic changes to compete in the marketplace. Today nothing is constant or predictable because the organization is driven by the "3 C" force (customers, competition, change). Rapid adaptation to ever-changing circumstances requires companies to move from structured organizations based on traditional functions to process-based management. By using state-of-the-art process management procedures, organizations can be made transparent, analysable, measurable, and continually improving, and help companies increase their performance and organizational flexibility, and reduce costs. It also helps to recognize when it is necessary to change a process for an effect. In the event of creating well-organized processes, companies are more responsive to changes in the market, allowing them to operate more efficiently, and to carry out development activities easier. Nowadays, development as a new framework focuses primarily on digitalisation, which is challenging for companies to adapt but without this, they would be left behind in the competition. These challenges require radical changes and transformations in the lives of many organizations, which are difficult to achieve. With the development of process-based enterprise management, not just multinational companies can improve their operation, but small and medium-sized enterprises can also move towards digitalization thus inducing development for not only their own but for the economy as a whole.
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Presentation of Employment and Economic effects of the Covid-19 Epidemic between March and November 2020 among Companies Dealing with Car and Parts Trade in Szabolcs-Szatmár-Bereg County
80-92Views:431The outbreak of the COVID-19 pandemic during the spring of 2020 entailed major economic and social changes all over the world. In this study, we aim to investigate the impacts of the COVID-19 pandemic on the labor market and the economy with relation to the automotive industry in Szabolcs-Szatmár-Bereg County. Apart from secondary data collection, this research also relies on primary data collection methods, including self-administered questionnaires and in-depth interviews, all conducted with several employees and finance directors employed by the automotive companies present in the county. The focus of this research is to study how the pandemic affected the balance sheets and the gross revenue of these companies; how it altered the repayment obligation of their current loans and how it influenced their willingness to enter into new loan agreements or relief options offering financial assistance. Apart from these factors, this research also studies how the pandemic restrictions affected the work schedule and the benefits of the employees.
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Talent Management in International Practice Through the Example of Europe and China
454-464Views:261The reason behind is that they have their own principles, strategic goals and industrial environment that they have to manage on daily bases. The current labour and talent shortage across Europe forces local companies to supply their demand of manpower from foreign countries – encouraged by the ’four freedoms’ of the EU. In consequence of the globalisation, we have to keep in mind that running a talent management system has its challenges. For instance, employees with different cultural background might have unconventional needs. Due to the cultural, demographical and economical differencies, we must know the structure of our labour force to use the most beneficial tools to induct, motivate or retain our human resource. The aim of this research is to analyze Europe’s and China’s talent management systems to reveal similarities and differencies between them and pick the most notable ones. From the point of comparison, analysing China would be important for European countries to discover further possibilities, as nowadays China has one of the most dynamically developing economy with enormous population behind. The primary result of the research is that deficiency of talent is irrespective of the size of the population and it causes difficulty in both European and Chinese fields, therefore it proves to be a real and general challenge needing attention at organizational level. Furthermore, identifying regional patterns considering peculiarities, the framework of talent management systems can be defined and be found summarised in the article.
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The Possible Job Creation and Job Destructive Effects of Technological Development
53-61Views:308Throughout history, technological change has often provided the basis for employee anxiety. Between 1811 and 1816, a group of workers in England who called themselves "Luddists" destroyed machines, because they thought it would endanger their workplace. 19th-century thinkers and economists such as Karl Marx and David Ricardo predicted that mechanizing the economy would ultimately worsen workers' conditions, depriving them of a decent wage. Over the last century, John M. Keynes (1930s) and Wassily Leontief (1950s) have expressed their fears that more and more workers will be replaced by machine solutions that will lead to unemployment. In recent years, Brynjolfsson and McAfee (2014) have argued that existing technologies reduce the demand for labor and put some of the human workforce at a permanent disadvantage. However, there are a number of compensation mechanisms that can offset the initial displacement effects of automation and process innovation in general (Vivarelli, 2015). First of all, while workers are being replaced in industries that introduce new machine technology, additional workers in new industries are needed. Second, automation (and process innovation in general) reduces average costs. Acemoglu and Restrepo (2017) found that this results, on the one hand, in the effect of price productivity (“priceproductivity”) (as production costs decrease, the industry can expand and increase labor demand); and, on the other hand, it leads to economies of scale in production (the reduction in costs due to automation leads to an increase in total output and increases the demand for labor in all industries). Similarly, Vivarelli (2015) argues that lower average costs can result in lower prices (if the industry's market structure is perfectly competitive), stimulate product demand, or result in extra profits (if the industry's structure is not perfectly competitive). If these extra profits are reinvested in the company, this investment can create new jobs. The presentation intends to present these counterbalancing cases and to provide real examples based on the literature.
