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Generalized coefficients of goods quality and satisfying of consumers demand
83-86Views:217In process of work the problems are set and solved. There are problems of social welfare research in conditions of nonhomogeneity of objects and subjects of management, of revealing and substantiating insuperable difficulties in rising of social welfare by approaches, worked out before. Also there developed a new direction in implementation of the most important aim of any socially-oriented economy.
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Technical efficiency analysis of maize production: evidence from Ghana
73-79Views:761The study applies the single-stage modelling stochastic frontier approach to investigate the performance of maize farmers in the Ejura-Sekyedumase District of Ghana. It estimates the level of technical efficiency and its determinants for 306 maize farmers. Findings indicated that land, labour and fertilizer influenced output positively whilst agrochemicals and seeds affected output negatively. A wide variation in output was also found among producers of maize. The study further revealed that age, sex and off-farm work activities were significant determinants of technical inefficiencies in production. Results from the maximum likelihood estimate of the frontier model showed that averagely, farmers were 67% technically efficient, implying that 33% of maize yield was not realized. The return to scale which measures the productivity level of farmers was 1.22, suggesting that the farmers are operating at an increasing returns to scale.
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Organic food sourcing, processing and distribution: a case of satisfying a growing market
5-10Views:458A case study of an organic food company in the Slovak Republic involved in producing and sourcing inputs, food processing and distribution is presented. The case is based on a June 2014 “live” case study prepared for students in International MBA in Agribusiness programs at the Slovak University of Agriculture in Nitra, Warsaw University of Life Sciences and the National University of Life and Environmental Sciences of Ukraine, Kiev. The company was established in 2001 with the objective to bring organic food to health conscious consumers. The company grows organic spelt grain, wheat, rye, buckwheat, herbs and apples on its 156 ha and 400 ha of owned and rented farmland. The company further processes these crops into more than 40 finished products. Students are presented with company information and summaries of a company visit and discussions with management. Students perform PEST and SWOT analyses, identify a shortage of owned and leased land as a problem the company must address, conduct research and analysis, and recommend product specification contracts as a solution to the problem.
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ARTIFICIAL INTELLIGENCE IN THE CORPORATE SECTOR
Views:315Humanity has made huge progress over the past millennia. We are working with technologies, robots that not only help us to work accurately, efficiently and quickly, but they work in a similar way to the human brain: they perceive, think, learn and solve problems.
In my research, I will focus on artificial intelligence, which is becoming more and more popular nowadays, looking at its past, present and future, its main trends in the corporate sector, and how it threatens people's job opportunities.
At the same time, one of my research objectives is to investigate how much the development of a country is related to the uptake of AI in the European Union, which I will test with correlation analysis, taking into account indicators of artificial intelligence penetration in the corporate sector from one side and the various AI indicators such as digital penetration, internet usage, computer culture, and economic indicators as GDP per capita from the other side.
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A study on consumer habits in the dietary supplements market
5-12Views:1256There has been a continuous increase in the proportion of consumers using dietary supplements worldwide. Evidence based on former surveys suggests that in Hungary more than half of the population buy at least one type of dietary supplement (hereinafter DS). By using secondary research, the authors of the present paper examine the demographic factors determining the consumption of DS on a global scale. Consumption of DS increases with age and is more frequent among women. Consumers with higher qualifications and income tend to buy products containing vitamins and minerals to a greater degree. In the vast majority of cases the purchase and consumption of DS is based on consumers’ personal preferences and decisions, rather than on their physicians’ advice. It has been found that a high percentage of DS consumers probably do not even need any extra nutrient intake. In our primary research (N=1000) the specific attitudes to and characteristics of DS consumption among Hungarian adults are analysed on the basis of on a nationally representative survey. First, we identify the most important reasons which encourage consumers to buy DS. Consumer awareness concerning DS with a particular vitamin and mineral content and of other sources is examined, and we also assess the consumption of the product which is the most popular. The current paper attempts to identify the outlets Hungarian consumers typically buy DS from, and also what resources they use to keep themselves informed about these products. Consumers who admittedly reported (regular) consumption of a certain kind of DS product 6 months prior to the survey are further examined in relation to certain additional issues. The results of our survey provide an accurate picture of the DS consumption habits of the Hungarian population.
JEL CODE: I12, M31
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Impact of CAP’s pillars on Romanian rural employment
75-80Views:264This paper aims to clarify the direction of change in rural employment on short- and medium term in Romania, while CAP regulations are being introduced and the global economic crisis emerges. First we put into evidence the decrease of the role of agriculture as buffer for unemployment and the poor contribution of non-agricultural activities to provide employment for rural residents.Then we analyse the main characteristics of the rural labour force. Finally we synthesize the opinions expressed by 33 consultants (working at the Offices for Agricultural Consultancy from different counties in Transylvania) about the estimated short term evolution of rural employment and the impact of CAP on Romanian rural areas.
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MONTE CARLO SIMULATION FOR STRESS TESTING ENDOGENOUS PROFITABILITY FACTORS DURING POLYCRISIS: A CASE STUDY FROM THE POULTRY SUBSECTOR
Views:40Can historical company data help estimate future performance during economic uncertainty? This study investigates whether past business cycles can be used to estimate profitability in the context of a polycrisis – a period marked by overlapping disruptions such as avian influenza, COVID-19 trade restrictions, extreme weather events, and rising feed and energy prices. These shocks have severely impacted agro-related industries, such as poultry processing. Focusing on three Central European poultry processing companies, we use Monte Carlo simulations for stress testing their profitability for the 2023 period, aiming to support financial planning by analysing firm-specific, endogenous, management-controllable factors. Return on Sales (ROS) and Return on Equity (ROE) are used to evaluate profitability, incorporating variables such as euro exchange rates in the case of export-driven firms. Our results indicate that Company “A,” characterized by stable operations, had the lowest probability of negative ROE, while Companies “B” and “C” demonstrated greater volatility. We found that the model provides a good estimate of the factors affecting the companies’ profitability that are directly or indirectly reflected in their accounting data. Indicating that the test could be a valuable tool for supporting managerial decision-making in financial planning, though further refinements are needed to enhance accuracy.
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Educational projects – support for development of tourism and rural areas in Serbia
65-69Views:305The paper presents three mini-projects that have been implemented by The Institute of Agricultural Economics – Belgrade in the 2006–2008 period. Those were special educational projects in agriculture and rural development, whereas extension activities were concentrated onto three topics: farm management, support of rural development and improvement of small farms. Implementation of projects took place on the territory of the South Banat County and some Belgrade city communes. The projects intended to solve current problems of sustainable agriculture and rural development. Within the projects there were identified priorities related to investments, strategic planning and tourism. Educational activities were aimed at a number of holders or members of their registered farms. Dynamics of the projects' implementation included introduction and discussion with a number of farmers, formation of small groups, preparation and making of materials, a series of theoretical lectures and determination of the joint work results. Education programs are aiming at improvement of the farm holders' knowledge in the field of business and management. Specific objectives of training are to increase sales of goods and services at domestic and foreign market, to increase competitiveness in a particular market, to achieve higher profits, to create new jobs and improve living conditions in rural areas. Evaluation of projects was related to determination of level, to which there were achieved set objectives, then to define implementation of projects in accordance with the plan, as well as to determine an impact of educational activities to promotion of knowledge concerning business and management.
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Protected geographical indication recognition and willingness to pay: A case of grojec apple
73-80Views:365The Grojec region of Poland is an important region for apple production and accounts for 40 percent of domestic apple production. Apple growers from the region made an attempt to strengthen their competitive position through registering their apples as Protected Geographical Indication (PGI) products. The European Commission’s PGI allows food producers to obtain market recognition and a premium price for their products. Although the Grojec Apple received PGI registration in 2011, little has been done to promote apples with the PGI label. Two important research questions are addressed: 1) Does the Polish market recognize Grojec Apple PGI, and 2) Does the market value Grojec Apple PGI? Logit and regression models are estimated using survey data collected during an International MBA in Agribusiness and Commerce study week in Warsaw. Only 22% of consumers recognize Grojec Apple PGI. Yet, 70% of consumers indicate they are willing to pay more for the product and their average willingness to pay (WTP) premium is 32%. Results indicate use of the PGI label may be effective in improving sales and profit margins for Grojec Apple producers and their affiliated cooperatives. Older consumers are more likely to indicate a WTP premium. Males, smaller households, and consumers less sensitive to apple price indicate a higher WTP premium. An advertising campaign promoting Grojec Apple PGI as a better product may be effective at increasing consumer likelihood to pay more and WTP premium. Although “Grojec” is already familiar to most consumers in central Poland as a region for apples, a Grojec Apple with PGI label would assure consumers they are purchasing apples from the Grojec region and the apples are high quality.
JEL Code: D12, Q13, Q18
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Key aspects of investment analysis
53-56Views:1092This paper reviewed principally accepted methods applied to investment analysis. To describe every aspect of investment analysis fully would require far more space than available here, so we highlight only of few of its aspects. This study collects several well-known bibliographies, contrasts them with each other and provides explanations for having done so. There are many questions about which authors and companies agree, including about how to apply certain methods, but on others there is disagreement. Four dynamic methods (Net Present Value, Internal Rate of Return, Profitability Index, and Discounted Payback Period) are demonstrated from the viewpoint of application. Moreover, this study clarifies several sensitive questions, such as handling income taxes, inflation and uncertainty. Other examined issues are only mentioned at the end of this paper, and we will publish on these more thoroughly at a later date.
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Performance imbalances in the chain: EU traditional food sector
7-11Views:300Organizations nowadays no longer competeas independent entities, but as chains(Christopher, 1998; Cox, 1999; Lambertand Cooper, 2000). Hence, being part of a well-performing chain is crucial for the future of the individual food firm, especially in the context of the globalizing economy. As a result, the objective of this study is to identify performance imbalances of traditional food chains.Therefore, quantitative data were collected via individual interviews with 271 chain member (91 suppliers, 91 focal companies and 89 customers) of 91 traditional food chains from three European countries(Belgium, Italy and Hungary), representing six different traditional food product categories (cheese, beer, ham, sausage, white pepper and bakery). The results differentiate six different kinds of chain imbalances, namely: dyadic upper and lower, up-and down stream, internal and external indicate both dyadic and chain-wise imbalance. Most chain imbalances are noticed in relation to lowering logistic costs and to reducing lead time. Future research should extend the list of performance indicators with parameters other than economical ones such as ecological and social ones.
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Agriculture in the Netherlands: Its recent past, current state and perspectives
129-134Views:281The driving forces that determine the prospects of the agricultural sector are dominated by international and European developments related to the demand for and supply of products. In this context, European policy, (such as the CAP), and national policy (e.g. nature management) can greatly influence the development of the agricultural sector.A further reduction of the support by the government forms an important element in the expected future developments.
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Diversification strategies and their impact on farm performance
57-61Views:305The objective of this study is to identify factors determining the economic performance of agricultural holdings in Italy, with specific attention to the impact of the adoption of on-farm diversification strategies, namely income diversification and product differentiation. The adoption of these kinds of strategies has been increasingly recognised as a viable business option in agriculture as they allow better allocation of farm resources and an increase in the quota of value added retained on farms and therefore not passed on to other agents operating at the end of the food supply chain. By using a panel of professional Italian farms over the time period of 2003-2009, we estimate random effect, ordinary least square and quantile regression models to estimate the impact of income diversification and product differentiation strategies on the levels of farm income per unit of labour income. Our findings show that scale economies are important positive determinants of farm economic performance. On the contrary, when the family play an important role in the farm business, economic performance is worse. Finally, we do not find evidence of a statistically significant impact of the adoption of income diversification and product differentiation strategies. This latter result may be interpreted as a signal that farms use these strategies as risk management tools rather than as income increasing ones.
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Agribusiness higher education development – ahead: The project results at a glance
95-98Views:330his booklet that has caught your attention contains basic information about the AHEAD project sponsored by the EU’s TEMPUS grant. This project was carried out between University of Zagreb (and other Croatian partners) and four EU-based universities. The project was very ambitious and it is my pleasure to state that the great majority of the objectives were carried out with high quality during the 3 years project time span. The main results of the AHEAD project can be found in this booklet, and I would like to mention just a few of them:
• A new MBA training started in Zagreb with international recognition
• 61 subjects of 3 BSc/MSc trainings were reviewed and modified,
• a study was created in order to determine the short – and long – term expert demand of the Croatian national economy,
• computers, equipment and modern textbooks were purchased from European grant and
• finally a personal note: it was spectacular to see the rapid development of University of Zagreb and generally the whole Croatia during the last 3 years. If our project contributed just a little bit to it, the effort certainly was worthwhile. -
The role of beekeeping in production of oil crops
77-82Views:343Production of sunflower oil are expected to serve larger and larger extent – over the demand of food industry and chemical industry – biofuel production. This could be especially true for that areas where climate is not allowed to grow winter rape safely and economically. Ecological role of honey-bees can be considered undoubtful in preservation of biodiversity of flora and fauna. I analyse the following problems in our study:
• What is the significance of oil plants in European and Hungarian energy production?
• How influence pollination the yields and the safety of production of oil plants?
• What is the role of oil plants in the development of production structure of beekeeping?
• What are the economical advantages of the above-mentioned effects? -
A comparative analysis of the profitability of pineapple-mango blend and pineapple fruit juice processing in Ghana
33-42Views:580This study analyzes the profitability of fruit juice processing using data from Kudors Fruit Juice Limited at Kasoa in Ghana. The cost involved in fruit juice processing (which includes the capital cost and the operating cost) was obtained from the Company. This study compares the profitability of blend (i.e. fruit juice made up of pineapple and mango blend) with that of pineapple juice alone. The viability of the project was determined using the discounted measures of project worth: Benefit-Cost Ratio (BCR), Net Present Value (NPV) and Internal Rate of Return (IRR). The empirical results reveal that pineapple juice processing had a BCR of 1.03 which means that going into the pineapple juice processing is profitable. The value of the NPV (GHS11,728.00) and IRR (23%) further confirms that pineapple juice processing is profitable because the NPV is positive and the IRR is greater than the discounted factor (21%). The results also showed that it is more profitable to invest in the blend (pineapple and mango blend) than the pineapple juice alone as it yields a BCR of 1.36 which was greater than the BCR of 1.03 for the pineapple juice only. Furthermore, the value of the NPV (GHS176,831.00) which is greater than the pineapple juice only, suggests that the blend is more profitable even though the IRR for both are the same. Moreover, it is also more likely to recover capital investment earlier in the processing of the blend than when one goes into pineapple juice processing only, because the net cash flow in year 2 (GHS 58,146.00) for the blend is more than triple that of the pineapple juice only (GHS17,826.00).These results have policy implications for the development of Agribusinesses in Ghana.
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Problem analysis of the Hungarian tobacco sector
161-166Views:343The Hungarian tobacco sector went through significant changes in the last decades. The reason of the changes were our accession to the EU, then the changes in subsidiary system, the effect of the world and within the EU’s strict tobacco policy. The number of tobacco farms declined and the future became uncertain for the farmers. Size of the farms increased and there were a concentration in the sector, so the smaller scale farmers’ activity ceased. It causes several problems in rural areas, because one of the main strengths of the sector was its significant role in rural development, as the tobacco in small scales was able to produce an acceptable income in such areas where due to the poor soil quality economically successfully growing for other plants are not suitable. The main goal of this paper is to present the Hungarian tobacco sector and its main strengths, weaknesses, possibilities and threats compared to the European Union’s situation.
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Consumption habits of “Free range chicken” in Hungary
69-73Views:345Poultry is highly ranked in theWorld meat production and consumption (it accounted for 32% in 2007), and, in the past 20 years it was growing with an annual rate of 3–6%, higher than in case of any other meat-types. This tendency is also valid for Hungary: poultry has the largest share (29.8 kg/person/year, 47%) in the domestic meat consumption since 2000, which is among the EU top (KSH, 2007). As the result of the animal health and nutrition scandals, the EU animal welfare and quality requirements and the advancements in health consciousness the Master-Good group launched the production, processing and trade of free-range poultry under the brand “Free-range chicken”. The new products had good consumer responses, because at present 1.5% of the processed chicken in Hungary (25 tons/week) is under this brand. As it regards the future of this product, we can expect the decrease of the current 1.5 times higher production price over broiler chicken, due to the increasing energy, labour and other cost items, thus the increase of the domestic consumption by 25–30% per annum can be foreseen. Besides the growth in domestic demand, increasing foreign consumer demand can also be expected because of the space requirement of the production. Summarising the above mentioned: „Free range chicken” can be one of the most successful products of the Hungarian poultry industry. In order to realise the prognosis mentioned above, it is inevitable to learn the consumer attitudes towards the brand. A primary market research programme supported by the Master Good group has been launched to study the main features of the domestic chicken meat consumption – including the „Free-range chicken” as highlighted brand. The primary aim of the research was the complete assessment and evaluation of the Hungarian chicken consumption habits and the identification of the possible take-off points. The research undertaken resulted basic information concerning the internal structure of the Hungarian poultry consumption (including that of the „Free-range chicken”), the potential consumer groups and their requirements, provided information on the consumers’knowledge of the products and identified the elements of the consumers’ judgements. This will serve as basis for a marketing communication programme to increase the domestic „Free-range chicken” consumption.
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Changes in the Relationship Between ICT Use and Economic Development in EU Member States 2010-2016
91-100Views:371In this study, we examined some ICT indicators of the EU Member States between 2010 and 2016 based on data of the World Bank and Eurostat. We wanted to know, how can the EU Member States be grouped according to these indicators, and which group can Hungary belong to. With the help of international literature reviews, three indicators were chosen. According to these we created three groups (underdeveloped, developing, developed) with the K-Mean cluster method that is classified by their level of development. Interesting changes took place during the period under review. By the end of the analyzed period, six countries lost their “developed” rating among others some founding members. There were also interesting changes in the clusters. The value of some indicators increased more than 40% in some cases, surprisingly, only in one case measured reduction. The proportion of ICT specialists decreased in developing countries (by 1%). The highest growth rate was observed in the developed countries in e-commerce. Because of the high proportion of ICT professionals and the share of e-commerce in the developed cluster we assumed that service would be the dominant sector. The two-sample t-test did not confirm our hypothesis. We supposed the focus in developing countries will be on the industry, due we think the developed countries started to outsource their SSCs (shared service centers) to less developed countries. With the help of a statistical indicator, we confirmed our assumption, but the result not so convincing since the significant level is only 11%. Although we thought that the underdeveloped group of countries was based on agriculture, statistical studies did not support our hypothesis.
JEL Classification: O13, O14, O52
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TRUST AND TRADE READINESS IN THE AGRIBUSINESS SECTOR THROUGH INTERCULTURAL COMMUNICATION: INSIGHTS FROM A CONSULTANCY FIRM IN INDONESIA
Views:57In the era of global agribusiness, intercultural communication has become increasingly essential for fostering trust and facilitating international trade. This study explores how an Indonesian international consulting firm strategically applies intercultural communication to enhance trade readiness and build trust with global clients in the agribusiness sector. Guided by Communication Accommodation Theory (CAT), the research investigates convergence, divergence, and maintenance communication strategies across diverse cultural contexts, including East Asia, Australia, and the United States. Using a qualitative case study approach, data were collected through key informant interviews and direct observations of client-consultant interactions. The findings reveal that tailored communication, adjusted to cultural norms, client expectations, and technological platforms, plays a significant role in reducing misunderstandings and strengthening client relationships. Convergence strategies, such as mirroring tone and interaction styles, help establish rapport, while strategic divergence reinforces ethical standards and professional identity. Maintenance ensures consistency in service branding. The study concludes that intercultural competence is not merely a soft skill, but a strategic asset that improves trade outcomes, client satisfaction, and long-term partnerships in agribusiness. These insights offer practical guidance for consultants, business developers, and agribusiness firms navigating global markets. Future research may extend this analysis to comparative studies between regions or sectors to broaden understanding of intercultural dynamics in international trade.
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The role of the green week in the MBA curriculum
Views:228The purpose of the paper is to demonstrate the potential of experiential learning in fulfilling the role of higher education institutions in teaching and promoting an MBA education. The educational achievements of the Green Week of the MBA in Agribusiness and Commerce (AgriMBA) are highlighted and challenges and areas in need of improvement are discussed.
Curriculum serves as the foundation of teaching students. While progress has been made in MBA curriculum, including economics, informatics, finance, marketing, and management, integrating these knowledge areas into experiential learning should be a key component of an MBA education. The AgriMBA provides such an integration of knowledge areas within an experiential learning environment of the Green Week. The Green Week has included 343 students representing 21 countries, six continents, and 11 universities, involved 34 case studies, and hosted by six universities during the 17 years it has been held.
Although most MBA programs include case studies in their curriculum, the Green Week is unique in providing “live”, real-time case studies, where students representing multiple universities and countries come together to present their recommendations to business executives. This intensive, experiential learning opportunity exhibits how students from different cultural backgrounds are able to quickly form functional teams, apply curriculum knowledge areas, and effectively achieve this ambitious goal.
JEL CODE: A23
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New tools and opportunities in growth and climate friendly greening for small and medium enterprises in the European Union
25-31Views:323The role of Small and Medium Enterprises (SMEs) is unquestionable in the European economies, while financial opportunities are still inadequate for them. The more than 20 million SMEs play a significant role in European economic growth, innovation and job creation. According to the latest EC Annual Report , SMEs are accounting for 99% of all non-financial enterprises, employing 88.8 million people and generating almost EUR 3.7 tn in added value for our economy. Despite the fact that there is plenty of EU funding available for these SMEs, for certain reasons these funds hardly reach them. But we have to see that the EU supports SMEs by various way, e.g. by grants, regulatory changes, financial instrument, direct funds. On the other hand, SMEs and decision makers realised that the environmental sustainability has to be attached to the economic growth, therefore more and more tools are available for these enterprises. Over the last few years, public institutions, the market, the financial community and non-governmental associations have explicitly demanded that firms improve their environmental performance. One of the greatest opportunities might lay in the Climate- and Energy Strategy till 2030 as 20% of the EU budget is allocated to climate-related actions, however the easy access to finance is still a key question. Does the EU recognise the actual difficulties? Is there a systemic reason behind the absorption problems? Is the EU creating a more businessfriendly environment for SMEs, facilitating access to finance, stimulates the green and sustainable growth and improving access to new markets? The paper analyses the current European situation of the SMEs and the effectiveness of some new tools, which are specially targeting SMEs.
JEL classification: Q18
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Allocation of structural funds before and after the brexit: An exercise in the economics of cake-sharing
69-71Views:380What impact has the Brexit on the allocation of money from the structural funds? As the UK is a net contributor to the EU budget, the budget for Structural and Cohesion Policy will shrink. This will have an impact on the allocations of the structural funds to the remaining members of the EU. In order to estimate the allocation of the structural funds to the remaining EU members an allocation model is developed in this article. It appears that the model results do not only show the sharing of the cake, but also the size of it.
JEL Code: F00, Q00
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Methodological and integration aspects of abc-method application in trade organizations
107-110Views:196In conditions of declining consumer demand and deficit of credit resources more and more managers of Russian companies think of necessity of introducing effective methods and systems of cost management. One of the most relevant is method of “Activity Based Costing” (ABC-method). Since, in western experts’opinion sectors of service and trade are adjusted to use ofABC-method even more than production, we should refer once more to the main methodological and integration aspects ofABC-method application and consider it from position of trade organization.
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The effects of climate change on cereals yield of production and food security in Gambia
83-92Views:1311Increasingly, empirical evidences are substantiating the effects of climate change on agricultural production is a reality. In the early part of the 20th century many were skeptical about the so-called climate change that is due to global warming. The Intergovernmental Panel on Climate Change (IPCC, 2007) defines climate change as follows: “climate change refers to a change in the state of the climate that can be identified by changes in the mean or variability of its properties and that persists for extended periods, typically decades or longer” This study analyses the impact of climate change on cereals production (millet and maize) in the Gambia using a time series data for a period of 46 years (1960 – 2013) at an aggregate level to assess the relationship between climate (temperatures and rainfall,) and non-climate variables fertilizer, area planted respectively and yield. The specific objectives of the research are: (1) How climate change affects the expected cereals (Millet and Maize) output or yield in the Gambia. (2) How the level of output risk within cereals (Millet and Maize) farming is affected? In order to achieve these set objectives, the paper will adopt Just and Pope modified Ricardian production functions for climate change impact assessments (e.g., Chen et al. 2004), the paper will also control for the impacts of regular input factors in the production process. The study used a data set for the Gambia comprising variables relevant for cereals production and climate information from 1960 through 2013. There is strong evidence that climate will affects Maize and Millet; according to the analysis 77% and 44% of the variability in the yield of Maize and Millet respectively is explained by the climate and non-climate variables included in the model. Given the effects of climate variables on cereals production, and increasing climate change vulnerabilities on other food production section, the result of this paper will add voice to the growing call for policy makers to step up funding in research and development in climate change adaptation and mitigation.
JEL classification: Q54
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