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Some possibilities for risk analysis in the decision support of crop production
79-85Views:118This article has been made according to my dissertation in which I present some opportunity of risk analysis and risk management in the decision support of crop production. Plant production is one of the most hazardous agricultural enterprises. Among risk sources seasonal fluctuation of average yields plays an important role in the assessment of enterprises. Therefore, I analyzed the production risk of the produced crops in Hungary compared to the European Union’s, after that I took into consideration the production site’s circumstances as well. Decision-makers must possess such means, by which they can measure, oversee and manage the effects and consequences of risk. In crop production linear programming models can be used to determine the optimal crop structure, by which income-sensitivity can be taken into account, but it does not reflect the behavior to risk. This deficiency can be avoided by using risk programming models. By the complementary usage of linear programming and risk programming models the optimizing and adaptive planning can be executed. It often causes a problem for the producers to decide when and how much to sell to realize a maximum turnover. The decision is mostly influenced by the selling prices, but also important factors are the financial status of the business, the amount of credit and its conditions, the stock piling opportunities and costs, and the short-term investment opportunities as well. For the resolution of the problem I set up a dynamic, simultaneous financial model by which the system-conceptual analysis of the above mentioned factors and a sound decision-making can be executed.
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A study of the causes leading to the liquidation of agricultural enterprises
123-127Views:108The viability of agricultural enterprises is of paramount importance. Their liquidation has harmful effects on broad strata of society. The aim of my research is therefore to analyze the leading causes of liquidation of agricultural enterprises. The research was led on 17 agricultural enterprises. This may help in the prevention and treatment of their insolvency. The research results show that a long-term agricultural production is not sustainable with a low equity capital. For the long-term maintenance it is necessary that the investors establish the enterprise with a capital according to the type of the production.The loan can not replacethe entrepreneursown resources,it is only complementaryto it.Theownersof agriculturalbusinessesshould strive to ensurethatthe paid-up share capital is kept in the firm, because in case of payment difficulties, this can be an adequate financial provision. Companies with financial problems can avoid liquidation if the crisis is detected in time by the leaders. However, the owners must organize the management of the enterprise so that it should have the necessary technical and economic knowledge. With an appropriate management, and use of means of crisis management, the liquidation of the enterprise can be prevented.
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A comparison of the Hungarian mangalitza and dutch organic pork chains
73-76Views:153The aim of this paper is to present the Hungarian mangalitza pig and Dutch organic pig supply chains and, in interrogating the differences between the two sectors, to make suggestions for the efficient operation of the Hungarian mangalitza breeding sector. The information about the two was sourced by a depth interview and literature reviews. It is established that there are few similarities between the two segments. In both sectors, the pigs are kept outdoors in large paddocks, there are also National Associations: in Hungary, the Association of Mangalitza Breeders (NAMB), in The Netherlands, the Organic Pork Growers. They hold a general meeting every year, where they discuss issues such as volume, quality, price, marketing and the future challenges and opportunities. There is strong demand both for the mangalitza and also for Dutch organic pork products on foreign markets. The main difference between them is their information systems. In The Netherlands, information flows via FarmingNet, but in the mangalitza sector, no such system exists. Yet, such a system would represent a breaking point for the adequate flow of data and efficient production for the NAMB, because then, Hungarian farmers would be forced to supply data.
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ANALYSIS OF CONSUMER BEHAVIOUR IN THE EUROPEAN POULTRY MEAT MARKET
Views:196This research has also confirmed that poultry meat is currently in its golden age, not only in our country but also globally. The beneficial physiological effects of poultry meat, its nutritional value (high protein content), and its role in modern nutrition and diets have made it the most popular and 'fashionable' meat product of our time. Healthiness as a megatrend has favoured the consumption of poultry meat, which has been consumed for decades, and is reflected in the growth in production, trade and consumption. The trend of environmental awareness has also pushed the meat market towards the consumption of poultry meat as it is one of the least environmentally intensive compared to other meat types. Poultry meat is the second most commonly consumed meat in the EU, but in some European countries, it has taken over the overall lead (e.g. Hungary, Cyprus, and the UK). Poultry is not only preferred for its healthiness and low environmental impact, it is also an easy, versatile, quick-to-prepare, cheap source of protein. These advantages are expected to lead to further growth in the future in terms of production, trade and consumption, China, the US, the EU and Brazil dominate the poultry sector.
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Potential for Hungarian Grasslands in integrated rural development
37-39Views:125Sustainability and multifunctionality, two key principles, which will determine future development in any activities. On the bases of these principles, society as a whole has already outlined future expectations towards rural areas. Rural functions (economic, ecological and socio-cultural ones) have been declared in European Charter for RuralAreas. To what extend can different rural development initiatives meet these functions? The question may be answered by using the method of multifunctional rural resource analysis (NAGY, 2007). The paper is investigating the potential for Hungarian grasslands by using this methodology. It is concluded that our grasslands, as land use systems in their present conditions can participate in integrated rural development in the most balanced way compared to other land use systems in the county. Economically their potential is good. Ecologically their potential is outstanding. The socio-cultural potential of grassland use in Hungary is also outstanding due to the historical roots.As a future prediction the relative importance of the three grassland functions has been outlined in integrated agriculture and rural development.
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Hungarian spirits palinka as a “hungaricum” II. The effect of tax-free production in Hungary and in the European Union
137-144Views:246Palinka is a traditional Hungarian fruit spirit prepared exclusively by the distillation of fruit mash or fruit pulp. As an alcohol product, it is subject to the Act CXXVII of 2003 on Excise Duties and Special Regulations on the Distribution of Excise Goods amended several times. The present government of Hungary pledged to grant the right of free palinka distillation again in the previous election campaign. As of 27 September 2010, the excise duty of subcontract-distillation was repealed, and the previously non-existent “official” home distillation was introduced, which resulted in explicit revenue losses for the state budget. The modification of the law mentions distillate instead of the word palinka. The difference between the two notions will be discussed in the present study. Presumably, lawmakers did not consider the fact that at the time of Hungary’s EU accession we entered into an agreement stipulating that the tax on subcontract-distillation should not be lower than 50% of the tax on alcohol products. Having been unable to agree on a solution to the problems in question, Brussels launched an infringement procedure against Hungary. Finally, Hungary was convicted; therefore, tax exemption or palinka distillation shall be ceased. This regulation came into force on 01 January 2015. The reactions of those who used the services of subcontract distillation were negative; turnover plunged by approximately 85% compared to the year of 2014. The present research will present the amendments concerning home distillers due from 2016 and the elements of the bill intended to amend the Act LXXIII. of 2008.
JEL CODE: K34, L51, L66
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Efficiency analysis of dairy farms in the Northern Great Plain region using deterministic and stochastic DEA models
113-122Views:126Running any dairy enterprise is a risky activity: the profitability of the enterprise is affected by the price fluctuation of feed and animal health products from inputs, as well as by the fluctuation of end-product prices. Under these circumstances, it is essential for the cattle breeders, in order to survive, to harness the reserves in management as effectively as possible. In this research the efficiency and risk of 32 sample dairy farms were analysed in the Northern Great Plain Region from the Farm Accountancy Data Network (FADN) by applying classical Data Envelopment Analysis (DEA) and stochastic DEA models. The choice of this method is justified by the fact that there was not such an available reliable database by which production functions could have been defined, and DEA makes possible to manage simultaneously some inputs and outputs, i.e. complex decision problems. By using DEA, the sources that cause shortfall on inefficient farms can be identified, analysed and quantified, so corporate decision support can be reinforced successfully. A disadvantage of the classical DEA model is that the stochastic factors of farming cannot be treated either on the side of inputs or outputs; therefore, their results can be adopted with reservations, especially in agricultural models. This may have been because we could not discover that many agricultural applications. Considering the price of inputs and outputs as probability variables, 5000 simulation runs have been done in this research. As a result, it can be stated that at which intervals of the input and output factors can become competitive and the fluctuation of these factors can cause what level of risk at each farm.
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POTENTIAL USES OF BLOCKCHAINS IN HUMAN RESOURCES
Views:36Blockchain technology offers businesses many opportunities for more efficient operation and safer data management. It also becomes easy tostore and share employee data, while the blockchain guarantees that it does not fall into unauthorized hands. The management of financial transactions and the automation of the payment process are also a great advantage for businesses, which can manage the payment of wages andbenefits more efficiently. Another area of application of blockchain technology is the creation of more efficient workflows that can improve productivity and reduce costs. The management of work schedules and optimized work processes will also be easier with the help of the blockchain, so businesses can become more efficient and effective. In this article, the relationship between HR and blockchains was explored through a meta-analysis based on available related publications. -
Relationships between coping strategies and psychoactive substance use
102-108Views:208The study examines the relationship between coping strategies and smoking and alcohol consumption among athletes, recreational athletes and non-athlete individuals.
The factors examined were measured by a validated questionnaire version of Folkman-Lazarus (1980) (Ways of coping) (16 items) and asked about the smoking and alcohol consumption patterns of the respondents. The total sample number was 813 people, of whom 341 were athletes, 292 were recreational and 180 were non-athletes. 54.4% of the sample is female and 45.6% is male. In my research, I focused on mapping intrapersonal coping strategies among athletes, recreational athletes, and the non-athlete individuals, and explored gender differences. Furthermore, how smoking and alcohol consumption appear as a negative coping strategy in the measured sample.
As a method besides descriptive statistics the Kolmogorov-Smirnov test was used to verify normality, and the hypotheses were tested with non-parameterized test (Kruskal-Wallis, and Mann-Whitney).
For coping strategies I found a significant difference among the non-, recreational and competitive athletes, and there is a significant difference between genders as well.
In the case of cognitive restructurings, there was a significant difference in favor of sports and recreational athletes versus non-athletes, while in problem analysis and passive coping I found a significant difference in favor of women compared to men.
Significant differences were also found in the case of psychoactive substance use. Among the three groups, as the intensity of sport increases, the number of smokers decreases. In the case of smoking, a significant difference was found in the coping strategies referring to reduction of the stress in the whole sample. In the case of alcohol consumption, in coping strategies were found significant differences between stress reduction, problem analysis and passive coping.
JEL CODE: M21, O21
ARTICLE IN PRESS!
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Examination of leader communication in agriculture
41-47Views:163My doctoral and research topic was significant in the examination and analysis of leader activities in the framework of a functional, modularly constructed empirical research program of the Department of Management Sciences. I could make statements and correspond about leader activities; these exercises and the influential factors on these activities were studied by the examinations and analyses of leader communication. In this article, I will demonstrate the research I made in on agricultural communication, as a Ph.D. student in the Department of Management Sciences.
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Safety culture measurements results in the agricultural sector
143-150Views:114The author examined the safety culture and in relation to that the safety and health-related human factors. The examination was conducted primarily in the agricultural sector. Safety culture is also a key factor in business life especially in productive sectors. Basically, it determines the general work safety and occupational hazard situations, which may have an impact on business, competitiveness, and efficiency, and also employee satisfaction.The concept of safety culture is new in the applied sciences. Scientific investigations of safety culture are diverse, varying by country, science background and economic sphere. The author has created a dimension-model, which organically reflects the relations of safety culture within an organization, projected mainly on conditions in Hungary. Some safety culture dimensions have been also examined on the basis of international safety culture research methodology. The author investigated some safety culture dimensions on the basis of international safety culture research methodology. This method is suitable to investigate the status of the relevant safety culture dimensions at agricultural organizations. It has possibilities, in the course of safety culture operationalization, to mark out dimensions which as elements of organization culture are suitable for denotation of safety culture. In this paper the author publishes some of his results about the examined 18 agricultural enterprises. The author used a self-made questionnaire for the interviews. In the questionnaire he used Likert-type scale to measure the qualitative elements of the dimensions.
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Efficiency evaluation of service marketing in a Hungarian Telecommunication Company
45-51Views:137It is unquestionable that marketing is an essential promotor of the economy and commerce. With its diverse tools, it can influence consumers and also regulate supply by measuring needs and demands (Bauer-Berács, 1998). Although the roots of marketing go back centuries, it is interesting that the raison d’être of service marketing was disputed even in the 1960s and 1970s. However, by today it has developed into a substantive specialty. In this study, the inquiry service and the implemented marketing tools of a leading Hungarian telecommunications company were studied for four years. (The data was provided by the communication manager of the company. Being bound to secrecy, I will not disclose the name of the company or the inquiry service.)
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Bicycle tourism in Hungary
67-71Views:518Side by side with the revaluation of a health-oriented lifestyle various kinds of axtive leisure activities and active tourism in particular have been gaining ground. Cycling, which is popular not only as a leisure time tourism activity but mainly within settlements, also as an environmentally-friendly and up to a certain extent, a highly practicable means of transport mainly in towns and cities in WesternEurope, has a privileged position within active tourism (SALAMIN, 2010). This article wishes to present the situation of bicycle tourism, the factors influencing the demand for it and the opportunities for and possibilities of improving it within Hungary by providing an evaluative analysis of the relevant sources of the technical literature. The most important finding of this secondary research-based study is that there is an increasing contention both internationally and within certain regions of tourist interest within Hungary although there is no detailed information available as regards the latter. Success on the market can only be achieved by following the good practices of internationally developed tourist destinations and by a concerted development and improvement of the infrastructure, services and target-group oriented marketing activities as well as attractions.
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The impact of the internet on Hungarian food consumers’ ways of seeking information from the aspect of health awareness
13-18Views:118One of the main components of healthy lifestyle is proper diet. When putting together one’s diet, lots of information are needed in order to be able to pick from various foods which contribute to converting to a healthier lifestyle and maintaining it. The main purpose of this study is to determine and show examples of the characteristics of online marketing which could help consumers in the conscious conversion to healthy lifestyle. Of the various factors, great emphasis is placed on online health-related information. Based on the research findings, it can be concluded that healthy lifestyle-related information has a significant role in online sources. Consequently, Internet can be regarded as a preferred source of information in terms of the conscious converting to healthy lifestyle.
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Ecological aspects of increasing intensity in pepper forcing with prime attention to the type of the growing equipment
81-87Views:110Significant amount of profit can be generated in forcing technologies by the efficient use of different elements in growing technologies, however, improving production intensity is on the agenda in the sector. Pepper forcing, as the most significant class of vegetable forcing, practically takes place under all the growing equipment widespread in our country, but there is a considerable difference in context of profitability and efficiency. This paper wonders whether the most intensive technology in pepper forcing is efficient regarding the use of forcing equipment, namely modern greenhouses, or growing under greenhouses with significantly lower investment cost is more efficient. The analysis represents cost-income factors and efficiency assessed on a long-term basis of different technologies via a deterministic model based on producers’ data collections. As a result of the research, economic indicators are calculated based on exact results which will help to conduct a comparative assessment of economic features in technological varieties.
JEL code: Q12
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Integration at the workplace studies within multinational pharmaceutical factories in Hungary
69-71Views:125The primary objective of this essay is to assign a gap in Human Recourse Management literature. Many studies and resources are known about hiring and maintaining people and their loyalty to organizations. Work socialization is the first step to keeping people; however, most of the literature on integration at the workplace focuses primarily on organizational commitment and not on the individuals. Various perspectives of work socialization have been discussed including socialization stages, guidance and carrier development. This essay focuses on the approach of Human Resource Management, but the scope is expanded to the individual as well. In this paper, the reasoning, the methods and the questions of my future doctoral research on integration at the workplace are analysed. First, the issue is discussed from the perspective of social changes in Hungary. The next part of this essay illustrates varying definitions from the literature, providing then my own view of how to explain the integration process in the workplace and through which what I would like to focus my research. This article also aims to show possible methods (in-depth interviews with Human Resource Managers and document analysis) for examining the topic at multinational pharmaceutical factories in Hungary, while highlighting the most important questions for which my research aims to find answers.
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Subsidies are Potential Sources of Profitable Management – Their Payment Between 2010 and 2016
97-120Views:167Based on the allocations and distributions of subsidies in the sheep sector in the previous years (2004-2009), the authors examined the sum of aids claimed and paid from 2010 to 2016 and their farm-size related changes. The following data were collected from the Agricultural and Rural Development Institute on payments under specific subsidy titles, classified by sheep and goat farm sizes: 0-50; 51-100, 101-200, 201-300 and also 0-100, 101-300, 301-500, 501-1000, 1001-5000 and above 5000. Data procession was carried out by the SPSS for Windows 22 program. The size and population of the examined sheep sector underwent visible changes during the studied years leading to a reduction rather than growth. Their analysis highlights that size distribution of sheep farms has changed significantly in recent years, combined with simultaneous modifications of their sheep stock sizes in production. Their conclusions suggest that effects of years and farm sizes in the sheep and goat sector have considerably modified the aid sums paid under different titles.
JEL Classification: H5, Q14
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Marketing characteristics of Tokaj wine specialities based on factor and cluster analyses
93-101Views:203The marketing kind of analysis in the domestic and international markets of Tokaj’s wine speciality has not happend yet. The present research scientific method supportedly defines the consumers of Tokaj’s wine speciality and it determinates the overlay receipt. The basis of the questionnaire research at the wine consumers cirlce is a representative sample of 1179 people. It confirms the truthfulness with factos and cluster dissection. On the hungarian market 5 sections can be devided, which has been determined by the earning category, the wine savvy and the referene price interval. Tokaj Wine Specialities named “late vintage” are also available. This name can be confusing for the consumer, some do not understand in what they differ from other Tokaj Wine Specialities, as actually all Tokaj Wine Specialities are late vintage wines; particularly, wine is harvested later than usual, occasionally in October or November. The findings obtained during the research can beutilised in practice, too. In accordance with the results and conclusions, we have several practical suggestions. Our methodological suggestion is that the result of the cluster analysis based upon a large number of representative sample should be cross-checked with focus group tests; what is more, upon justification and verification, a detailed analysis of the given segments can also be performed better with this method. It would be worth studying the exact reasons for the popularity of wines with the name ”late vintage”. Such types of Tokaj Wine Specialities should be given higher priority in marketing terms. My suggestion is that the type of wine accepted and liked by consumers should be kept count of as TokajWine Specialities officially, too. The future marketing strategy has to be developed by knowing the sections and by it’s further research which has to integrate to the strategy of Tokaj’s wine region.
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Note on simple and logarithmic return
127-136Views:650In this paper we describe and clarify the definitions and the usage of the simple and logarithmic returns for financial assets like stocks or portfolios. It can be proven that the distributions of the simple and logarithmic returns are really close to each other. Because of this fact we investigate the question whether the calculated financial risk depends on the use of simple or log returns. To show the effect of the return-type on the calculations, we consider and compare the riskiness order of stocks and portfolios. For our purposes, in the empirical study we use seven Hungarian daily stock prices and for the risk calculation we focus on the following risk measures: standard deviation, semivariance, Value at Risk and Expected Shortfall. The results clearly show that the riskiness order can depend on the use of the return type (i.e. log or simple return). Generally, often – due to missing data or the nature of the analysis – one has to use approximations. We also examine the effect of these approximations on the riskiness order of stocks and of portfolios. We found differences in the riskiness order using exact or approximated values. Therefore, we believe, if this is possible, exact values instead of approximated ones should be used for calculations. Additionally, it is important that one uses the same type of return within one study and one has to be aware of the possible instabilities when comparing return results.
JEL Code: C18
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Environmental management activities of NHL teams
Views:161Over the past two decades, the sports sector has paid increasing and growing attention to understanding sustainability, including the environment, and in particular what can be done in practice. The purpose of this study is to examine the environmental CSR measures adopted by professional hockey teams in North America.
To answer my research question, I used a comparative analysis based on secondary data sources. For all 32 teams, I examined the available reports and their information on CSR activities, the information published on the teams' websites, and the research results related to the teams. I have selected 3 teams (Minnesota Wild, Pittsburgh Penguins, Seattle Kraken) that are at the forefront of the issue under study, using an evaluation system based on international literature, and case studies to showcase good practices that can serve as examples for the sports sector.
JEL Code: Q56
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Trends in agriculture and food production
99-110Views:105Agricultural reform resulted a shift from collective farming to small-scale production in China. This reform also has resulted a strong increase in gross agricultural output, which coincides with a slower increase in labour productivity. At the beginning of the reforms, agriculture accounted for 70 percent of total employment in China and still employs more than 50%. As a result of these reforms, China has undergone impressive economic growth also in the agriculture; the country has become one of the world’s top exporters and is attracting record amounts of foreign investment. The government has also stepped up investments in rural areas to meet the market demand for agricultural products. Results are very competitive compared to Central and Eastern European countries, where agriculture accounted for only 15 percent of total employment, but agricultural reform resulted a strong decline in gross agricultural output, which coincides with a similarly strong decline in employment. When approaching the issue of sustainable agriculture, we have to take into consideration, which China and India feed the largest populations in the world and both countries have had its own agricultural successes in the past 50 years. China has used land far more efficiently than many developed countries. With nine percent of the world’s arable land, China is responsible for the greatest share of agricultural production worldwide. Volume of produced pork, eggs, wheat, cotton, tobacco, and rice has increased and China exports an increasing amount of product each year. China has opened his borders, but do not expose food consumers to price shocks and producers to risks and disincentives. In this paper, the land-tenure system and the trends of agricultural developments are analysed in China and selected countries of EU.
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Labour market attributes of disabled people in Hungary
119-122Views:100Nowadays employment is an evergreen topic in Europe. The North Great Plain Region of Hungary is a typical rural area in Hungary, the unemployment rate is higher in this region as the national average, that’s why it is important, to give the possibility of job for the people living in rural areas. This paper focuses on the relationship between the disabled and the labour market in the North Great Plain Region of Hungary. On the basis of the 8/1983 Hungarian Law many kinds of supplies are provided by the State for people living with disabilities. It is very difficult to provide jobs for these people after their rehabilitation. Statistical figures show that the highest ratio of ‘people living with disabilities’ can be found in the North Great Plain Region of Hungary (30 per cent of the total number of ‘people living with disabilities’). The research focuses on special rehabilitation firms (they are specialised to employ disabled employers) and their employees. Two questionnaires for the above mentioned firms and their employees were created in order to gather information on their activities as well as relationship between the firms and its employees. Altogether 400 employees filled in the questionnaires. The current study shows the results of this survey. It can be stated that this paper shows the relationship between the employment and the types of enterprises, and disabled workers’ qualification level, the need for further education. According to the latest trends we analyse the attitude to the rehabilitation of people living with disabilities and how they will be able to work again not only in ‘rehabilitation firms’. After summarizing all claims of participants we can make an impression in this area and demonstrate the problems for the labour market generally.
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The conditions of security in sustainable rural economics
51-57Views:111This work aims to map the potentials of safe rural economy. This topic cannot be separated from the processes of globalization and localization, affecting each other, whose positive and negative effects have been focussed on, especially in terms of the protection of security and sustainability or their damaging. In Hungary, sustainable rural economy cannot be achieved only by the rural economy’s systematic stabilization but its present structure and the security system, accompanying the process, also needs to undergo some drastic changes. Sustainable rural economy means a modern economy that aims to keep the rural inhabitants while increases the wealth of the whole society. The legal security of the sustainable local economy is guaranteed by the state in Hungary. The security of the rural areas is provided by the police as an armed force, the auxiliary police, the public place supervision, the local agricultural rangers, the environment wardens, and by the fish- and game-keepers. The Police Act allows cooperation with the further organizations of the society to preserve public order, and to protect property and prevent and detect crimes. The purpose of my thesis is to present security as one of the most important factors to improve the rural areas. I also aim to map the possibilities of improving security (such as cooperation, naming the resources assisting strategic tenders and participation in rural development programs).
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Agri-environmental management and rural development: Hungary after EU accession
35-40Views:124In Hungary, similarly to developed countries, the share of agriculture in the GDP has declined. Even so, preparation of the sector’s long term strategy is crucial, as the role of agriculture exceeds the results represented in the GDP. Environmental and social functions of agriculture are revaluated in developed countries, and consumers at the end of the food chain actually govern the entire process. This is why information plays an increasingly important role, and gives signals (Verbeke, 2005) to the actors in the economy and society. This research area is diverse (including agricultural policy, environmental policy, rural development and sustainable development), and so I applied an interdisciplinary approach and conducted an integrated examination. The results show that in recent decades, the pressure of agriculture on the environment has been lower in Hungary than in the EU-15 and agri-environmental measures have taken hold in all types of land-use systems, even though they are more important in protected areas. Although this development provides a good basis for a long term strategy social capital has lost strength (Csath, 2002), so fostering the creation of internal and external rural networks – one instrument for this could be the Leader programme – is essential for sustainable rural development.
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Experiences on organisation of fruit and vegetable sector in Hungary
65-67Views:132The objectives are (1) to reveal some current issues on organisations founded by fruit and vegetable producers and (2) to stress upon those factors that should be highlighted in the very next future. In Hungary, POs have been accounting for bigger share of fruit and vegetable trading in Hungary, which refers to a better organisation in the sector. Bargaining force and level of experience on running such businesses, although, are still much behind the level expected. Flexibility and speed of a running business are highly determined by the legal form of Pos. The most favourite form is cooperative that is not flexible enough as a business form, especially for starting businesses. Low yearly turnover and weak market power feature the POs, preferring short time solutions to strategic thinking. It is macro environmental factors that generate short term thinking, but coupled with mismanagement on different levels of corporate management.
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