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Changing patterns in hotel room demand – case study of the Aquaticum Debrecen Thermal and Wellness Hotel
43-47Views:340Aquaticum Debrecen Thermal and Wellness Hotel is a very successful lodging property not only in Debrecen but also in the Northern Great Plain Region and in the Eastern part of Hungary and in point of fact in Hungary. In the past years Aquaticum Thermal and Wellness Hotel has been the leader in the region by revenue per available rooms (RevPAR). RevPAR indicates the overall performance of properties, accordingly it is the most commonly used statistical indicator in comparison to competitors in Hotel industry. In the past years, demand for Hotel rooms has changed. This changing has several signs. For instance the occupancy rate, the rate of domestic and foreign guests, the nationality of foreign guests, the time between booking and travelling, and many other demand patterns have changed. During the last year, the changing has been accelerated by the global economic crisis. Guests are waiting with their bookings hoping for better rates and last minute offers. The forecast of demand became much harder than ever before. These forecasts are basic ingredients of the revenue management systems, which systems are in use or will be in use by Hungarian Hotels. These systems are necessary to keep RevPAR at a higher level and to help Hotels to achieve better performance.
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Vertical price transmission analysis: the case of milk in the Slovak dairy sector
89-96Views:393Testing for nature price transmission and calculating elasticities of price transmission are important areas of research for providing insights into market efficiency issues. Symmetric or asymmetric price transmission has been the subject of considerable attention in agricultural economics. The concept of the price transmission is an important area of the research particularly in relation to the assessment of impact on the welfare of the vertical entities. The main goal of the paper is an analysis of the price transmission and its exploitation in case of price elasticity estimation in dairy sector. Work investigates vertical price transmission of milk in the Slovak agri-food chain. The research is based on Vector Error Correction Model (VECM) of the selected commodities at producer, processor and consumer level and the estimation of the parameters specified in the model. Moreover the paper determines the coefficient of elasticity of price transmission (EPT).
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Internationalization development of tertiary education system in the Republic of Croatia
95-97Views:264This paper forms a part of Executive MBA Training in Agribusiness and Commerce which has been supported, developed and carried out in frame of the Tempus project AHEAD, CD JEP 19009–2004. Understanding of business and management with all components related (from economic principles, marketing, accounting to organisational behaviour, strategic development and thinking etc.) and especially international focus on all this areas initiated the idea of this paper. Clear idea of strategic management from formulation, implementation and evaluation, as well as how important analyses are to develop any kind of good business or development plan (as one of the learning outcomes on MBA training) are present throughout the whole paper. Introduction to internationalization development of tertiary education system is given thru PEST analysis followed by analysis of whole tertiary education in Croatia, identifying major issues for internationalization of tertiary education, analysing them and suggesting solutions to develop it in right direction.
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MOTIVATION AMONG EMPLOYEES IN MULTINATIONAL CORPORATIONS
Views:1044Nowadays motivation plays a huge role amongst employees especially when we relate it to people working in multinational companies for example Pepsi, Coca Cola, Nescafe and many more. Motivation is a topic that relates to all of us. It is very essential for employers to seek and recognize what motivates an employee. Many people underestimate the benefits and importance of human resource management in their businesses or day-to-day life. When we talk about human resource management, we are talking about human capital. Human capital emphasises the ability, skills, and the personality of the person you are trying to recruit or employ. In this study, we wish to analyse the importance of how motivation stands out in employees in different types of offices/workforces. The different aspects in multinational corporations show different characteristics.
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Water footprint in Hungary
83-91Views:357More and more news report on water-related extreme environmental phenomena. Some of these are natural, which are often beyond the human race. But others are definitely due to anthropogenic effects. I think the water footprint index is able to highlight national and international water-use processes and gives us the opportunity of organizing a sustainable, consumer-, environmental- and governancefriendly management. 81% of the fresh water withdrawal is from surface water bodies in the EU. In Europe as a whole, 44% of abstraction is used for energy production, 24% for agriculture, 21% for public water supply and 11% for industry. Public water supply is confined to ground waters. To the water resources related human activity caused qualitative and quantitative amortisation will grow worse in the foreseeable future due to the climate change. Beside seasonal differences the sectoral differences are increasingly becoming critical between different areas, such as Southern and Western Europe. The former, wrong agricultural support system has worsened the situation since it gave financial aid for the used improper techniques of water-intensive crop cultivation. By today, this seems to be solved. Public water abstraction is affected by many factors, of which mostly are based on social situation and habits, but technological leakage receives a big role as well. Interesting, that for example the residents’water consumption in Eastern Europe decreased because price were raised and regular measurements were introduced. But in Southern Europe it increased due to tourism in the past period. Industrial water withdrawal decreased across Europe because of the decline of industry and the development of technologies. According to the European Environment Agency (EEA), the Union needs a sustainable, demand-driven leadership which focuses on the preservation and use efficiency. This have already appeared in politics and legal administration as well. Current research calls the attention to the significance and difficulties of this kind of domestic estimation presented trough the water footprint calculation of bread and pork in Hungary. The received data indicate the domestic water consumption trends in a modern approach. There is no doubt for me about the urgent necessity of water footprint calculation because as a result innovative, sustainability supported environmental, social, economical, and political relationships can be created – not just on local, regional or national level, but on interregional, European and even global stage.
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Methodological and integration aspects of abc-method application in trade organizations
107-110Views:218In 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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Use of methods and tools for an effective small and medium-sized enterprise in Szabolcs-Szatmár-Bereg county in Hungary
Views:440Small and medium-sized enterprises form the engine of the Hungarian economy, both in terms of their number and their employment rate. Therefore, the efficient operation of this sector is in the interest of many economic actors. However, experience shows that today's SME sector still needs to develop in many ways to become efficient. This study aimed to analyze whether SMEs use the necessary methods and tools to be efficient. Planning and the development of strategy are very important methods and tools for efficient and organized work, as it defines and clarifies the direction taken by an enterprise. However, the survey and the in-depth interview showed that they are not necessarily considered important for the participating SME leaders. According to the interview, one of the reasons is that SME leaders have a better understanding of everyday tasks and their implementation than the managers of large companies. Furthermore, in most cases, the SME leader is personally involved in everyday work. This provides the advantage of having the opportunity to fully understand the enterprise, thus managing, and developing it more effectively, as he or she can intervene more flexibly, faster, and more accurately if necessary. However, due to the small size of the organization, the manager also must perform the tasks of several functions (marketing, management, finance, etc.), which require multidisciplinary knowledge and skill. In SMEs, due to their specificities, it is difficult to apply best practices in large enterprises in both management and various functions.
JEL code: M21
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Understanding the demand side and coordinating the supply side for connected goods and services
17-23Views:291This paper addresses the coordination and innovation issues needed for promoting value added at the rural and regional level. There are two sides to value added: the ability to meet consumer demand, and to identify least cost ways of supplying the demanded goods. Human and social capital plays an important role on both sides. At the municipality level the supply side issues are complex. First, because the production space has far more dimensions than for the single entrepreneur. Second, because the value of some goods and services produced depend on what other goods and services that is available. On the supply side networks are important to solve the coordination issues, while networks for identifying and understanding consumer preferences are important on the demand side. Participation in these two network types compete for the same scarce resource, the time of the inhabitants of a municipality. We address these issues in more detail. A major insight from our work is that in addition to the time conflict, innovation and new information may make it more difficult to maintain coordination networks.
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Integration at the workplace studies within multinational pharmaceutical factories in Hungary
69-71Views:269The 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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Methodological and integration aspects of abc-method application in trade organizations
57-60Views:253In 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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Human resource aspect of agricultural economy – challenges of demographic change
163-167Views:371Over the past decades, the agrarian policy has tried to contribute to the catching-up of the rural areas with varying dynamism and aid scheme. However, its result is significantly below expectations. Nowadays, the age composition of the population living in rural areas reveals an unfavourable picture; the rate of the elderly, deprived persons and people being inactive from the aspect of employment is high and it is also combined with the low educational levels. The young generations and intellectuals leave the rural areas and, consequently, the rate of the active population continues to grow narrow as well as the proportion of young and skilled employees decreases. As a consequence of changes in the past decades, the rate of agricultural employment has not led to an intensive change but a failing change in extensive direction which lays off jobs. Nowadays, this process also determines the Hungarian rural society. In the sector, the need for employment diminishes as a result of the development in technology and due to the expansion of services sector. The purpose of our study is to present and analyse the human resources of our country’s agriculture by skill level and age group and compare it with the needs of companies, by doing this we try to compare supply and demand. In details, based on secondary data source, we investigate the agricultural labour force and try to confront it with the advertisements of job search portals (three of our job search portals based on our predefined criteria), by which we achieve a current picture of the agricultural human resource circumstances.
JEL Code: J43
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Methodological and integration aspects of ABC-method application in trade organizations
49-52Views:264In 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 of ABC-method even more than production, we should refer once more to the main methodological and integration aspects of ABC-method application and consider it from position of trade organization.
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Organic food sourcing, processing and distribution: a case of satisfying a growing market
5-10Views:490A 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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Development of leisure and sports consumption and sports motivation among children with disabilities
Views:505The number of studies on the leisure and sporting habits of people with disabilities as well as the background of sports motivation is far from the focus of research on intact research. Thus, the assessment of physical habits and sports motivation factors determining the quality of life of persons with disabilities can be considered as a less researched deficit area in Hungary and internationally.
In our research, we examine the recreational and sporting habits of the 8-18 year-olds, as well as the motivational background, and the results of this research are presented in this paper. The importance of this issue is confirmed by the fact that, according to a UN survey, 650 million people have some kind of disability, 50 million of them in Europe and nearly half a million in Hungary, 5% of the population. The questionnaire (N = 639) was filled by children with disabilities living in the North Great Plain region with the help of a teacher. We used both closed and open questions in the questionnaire, and we helped and orient children with response categories for some questions.
Data were processed using SPSS software, averaged, standard deviation, median, mode, and Chi2 probe was used to examine relationships in addition to basic statistics.
Our results showed that it is a problem for young people with disabilities that they prefer passive leisure activities, which is similar to the results of studies on intact research. Boys and girls have different sports, boys are more active than girls.
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Integrated agribusiness in the dairy industry of Ukraine: main characteristics and success factors
59-68Views:315Ukraine belongs to the TOP 20 global producers of milk. Despite its position, the Ukrainian dairy industry is suffering from a permanent deficit of raw milk supplied for processing. on average, in 2007–2011 over half of the produced raw milk did not reach the processors. one of the reasons behind this lasting trend is that the structure of initial production of raw milk is dominated by households (having a share of 80%); the latter produce milk mostly for their own consumption and leftovers are sold at marketplaces where they can get more attractive prices. nevertheless, already today we observe results of largescale investments into the industrial production of milk made in the last few years. This article stresses an important place of the dairy industry in the agriculture of Ukraine, as it provides the population of vital food products, many of which are strategic in the export potential. Authors present essential characteristics of the concepts “agro-industrial integration” and “agroholding”, discloses their role and place in the agrarian sector of the economy, and justifies the necessity of the creation an integrated production in the Ukrainian dairy sub-complex. The study aims at identification and description of latest trends in Ukraine’s dairy market. Moreover, authors present a successful Ukrainian example of Milkiland N.V. as one of the TOP 5 players in the Commonwealth of Independent States (CIS) dairy market.
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Historic landmarks in the development of Agricultural Land Market in Poland after the year 1989
41-44Views:305For a number of decades in the second half of the XXth century, agricultural land has been divided in Poland between three sectors: family, state owned and cooperative farms, with a dominating share of private, individual farmers in land use. As a result, ownership structure of agricultural land in Poland is quite unique among the former socialist Central and East European countries. Until the year1989, when the transformation to a market economy was initiated, the land market in Poland was almost non-existent. The State Land Fund(SLF), an institution created in 1944 was fordecades a substitute to land market. Originally, the Fund was responsible for the implementation of the land reform. After nationalization or confiscation of real estates, state farms have been established on a larger part of agricultural land under Fund’s management. Therest has been divided between formerfarm workers and small farmers owing less than 5 hectares of land.
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Food security assessment and consumption pattern in rural households in Ogun State, Nigeria
15-20Views:335The problem of nutrition security is getting worse in Africa, due to increasing population growth and poor progress in efforts directed at reducing food insecurity in many countries in the continent. The paper undertook an assessment of the food security situation and food consumption pattern in rural households in Ogun state, Nigeria. A multistage sampling technique was used to select 260 rural households from whom data were collected through structured questionnaire. The tools of analysis were descriptive statistics and food security index. The former described the consumption pattern, and households’ sources of food availability, while the latter was used to analyse the food security situation. The result of the rural households’ consumption pattern reveals that the rural households derived more of their energy from carbohydrates at the expense of other classes of food items. The result also shows that majority (75.5%) obtained their food through their own production and supplemented same with food purchased from the market to meet up with their family needs. Based on the recommended daily calorie intake (R) of 2,470 kcal, 59.6% of the rural households were food insecure while 40.4% were food secure. The calculated head count ratio (H) for the food insecure households was 0.6, confirming that almost 60% of households in the study area were food insecure. For secure households, the head count ratio (H) was 0.4, further confirming that only about 40% of households in the study area were food secure. The shortfall index and surplus index were 0.2787 and 0.3498 respectively, meaning that the energy requirement was less by about 27 percent and in excess of 34 percent for the food insecure and food secure households. The paper recommends that while enhancing production of arable crops - roots, tubers and cereals, a sensible balance of tilting towards meeting the requirements in the consumption of animal protein/legume, fats/oils, fruits and vegetables must be maintained to ensure food security. This policy thrust could be enhanced through mass education.
JEL code: R20
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THE CLUSTERS OF TELEMEDICINE (THE SCOPE AND MAIN ECONOMIC ISSUES OF TELEMEDICINE)
Views:234The introduction of telemedicine tools was motivated by the need to reduce the risk of infection. This paper deals with the main areas of telemedicine. It presents a definition of telemedicine and its most typical manifestations. It discusses the role of health in economic growth. It also discusses the legislative background to telemedicine. It analyses the two major clusters of telemedicine, primary health care and VR-based care. Primary care includes online rounds, remote examinations, remote diagnostics, remote intervention, remote monitoring and surveillance. The second cluster, based on virtual reality, already includes elements such as surgical interventions, pain relief, attitude modelling, rehabilitation, anxiety and phobia management, eating disorders management, relaxation, medical care in disaster situations. A separate chapter of the study deals with the economic indicators and revenues of telemedicine. Finally, the author identifies possible areas for further research (Craig J. – Patterson V., 2005).
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Energy alternatives in large-scale wastewater treatment
141-146Views:421In my article, after describing the characteristics of recent wastewater treatment activity, I introduce different traditional and innovative energetic opportunities of the compulsory waste management activities at large-scale operational level, covering national and international examples. Furthermore, the wastewater-based biomethane production and the certain plant’s energy self-sufficiency are highlighted topics as well. In the former case, it is possible to utilize the wastewater-based biomethane as fuel (and even to operate own vehicle fleet), while the second one gives the opportunity for the internal usage of produced electricity and waste heat, which can also result in significant cost-savings. As an additional option, algae-based wastewater post treatment is presented, based on the conditions of a Hungarian wastewater treatment plant, which biogas production efficiency and thus energy self-sufficiency has developed favourably due to the technological improvements. These plants may have a twofold role in the future: they are responsible for the compulsory waste management activity and on the other hand they can serve as excellent raw material mines.
JEL Code: Q25
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Analysis of the cavebath of Miskolctapolca’s brand elements and guests satisfaction
155-160Views:627In the region of Northern Hungary the unique Cavebath of Miskolcatapolca is one of the leading health tourism service positioning itself on national and international market with its developing supply items and 4 star qualifications. It has a unique natural background all over in Europe; this uniqueness gives an opportunity to develop brand, which is a determinative item of competitiveness. Because of the competition between destinations and the ever-changing nature of tourists’ expectations and behavior tourism destinations need to be managed as other commercial brands. The aim of our research was to analyze the role and possibilities of product development which is based on the unique natural factors, and to help to expand the domestic health tourism supply. We examined how the possibility of branding and brand equity change based on brand elements; how satisfied are guests with the services; how often guests visit the bath; what kind of period guests arrive in the bath; what kind of services do guests try; how do guests arrive in the bath with. In summer of 2014 we asked 210 Hungarian customers to fill the questionnaire in the Cavebath. The choosing of guests happened randomly. 199 questionnaires were correctly filled.
JEL CODE: Z32
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ECONOMIC ANALYSIS OF A COMPLEX PIG FARM
Views:180The objective of this study is, beyond presenting the production and economic indicators of a complex pig farm established as a brownfield investment, to analyze its cost-income and profitability relations. The Authors conducted their calculations based on primary data collection and a preliminary calculation model. The technological equipment of the presented pig farm is competitive at the European level, and its production indicators also show favorable results. The capital investment demonstrates adequate profitability, as the internal rate of return (IRR) is 12.35%, while the net present value (NPV) of the investment at the end of the 15th year is HUF 1.36 billion. According to the model, the results indicate that, on the one hand, the investment is capital-intensive, but at the same time, large-scale livestock farms equipped with similarly advanced technology are definitely necessary, as they greatly contribute to improving the sector’s efficiency. There is further potential for achieving competitive advantages through increasing economies of scale. Appropriate human resources with the necessary expertise, genetics, and feeding must accompany the technological advancement.
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Changing patterns in hotel room demand – case study of the Aquaticum Debrecen Thermal and Wellness Hotel
51-55Views:269Aquaticum Debrecen Thermal and Wellness Hotel is a very successful lodging property not only in Debrecen but also in the Northern Great Plain Region and in the Eastern part of Hungary and in point of fact in Hungary. In the past yearsAquaticum Thermal and Wellness Hotel has been the leader in the region by revenue per available rooms (RevPAR). RevPAR indicates the overall performance of properties, accordingly it is the most commonly used statistical indicator in comparison to competitors in Hotel industry. In the past years, demand for Hotel rooms has changed. This changing has several signs. For instance the occupancy rate, the rate of domestic and foreign guests, the nationality of foreign guests, the time between booking and travelling, andm many other demand patterns have changed. During the last year, the changing has been accelerated by the global economic crisis. Guests are waiting with their bookings hoping for better rates and last minute offers. The forecast of demand became much harder than ever before. These forecasts are basic ingredients of the revenue management systems, which systems are in use or will be in use by Hungarian Hotels. These systems are necessary to keep RevPAR at a higher level and to help Hotels to achieve better performance.
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Guest satisfaction survey at the Aquaticum Debrecen Thermal and Wellness Hotel
53-56Views:488Aquaticum Debrecen Thermal and Wellness Hotel is one of the most successful hotels in the North Great Plains region as well as in Hungary. The key to success lies in high level customer satisfaction. On the one hand only the satisfied guests will return to the hotel, on the other hand the guests’ positive or negative opinions will be shared with thousands of potential customers immediately by means of the Internet. Consequently, exploring the main factors of guest satisfaction has never been so important as nowadays. An online questionnaire system was introduced to the hotel in 2010, which resulted in an increased number of customer responses, thus it became possible to analyse the various aspects of customer satisfaction in a greater detail. In the present study the critical factors of guest satisfaction are analysed. We investigated the guests’ willingness to return to the hotel, and found that there is no significant difference between the guests’ gender, age, permanent place of residence and the fact if they travel alone or with a company and their willingness to return to the hotel, i.e. guest satisfaction. However, business travellers’ opinion significantly differs from the recreational travellers’ views concerning their return to the hotel. Business travellers are less satisfied and less willing to return. Furthermore, we investigated whether the problems experienced by the guests in the hotel influence the guests’ willingness to return to the hotel. We found that the guests who experienced problems are less willing to return. However, we also concluded that there was no significant difference in their willingness to return among those guests who experienced problems during their stay and these were efficiently handled, and those guests who did not experience any problem.
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Focus points of health tourism in the view point of changing costumer values
23-29Views:301In our study, effecting role of values on consumer’s buying decisions is going to be introduced in accordance with health tourism. Investigation of values has a highlighted role to predict future trends, because trends of consumer behavior are formed by values in several aspects. Furthermore, individual values reflect to subject’s lifestyle, purchasing behavior and decisions in connection with free time activities. Since the end of ‘80s results of social studies pointed out that, status fortifying and demonstrative aspect of consumption have been getting stronger. So, the changes of buying decisions are not based on the social stratums any more, but it represents the values of the individual with the growing effect of subject. Hence, values, expressing the subjective judgments of consumers, are the most precise predictors of long term social changes. In our study mainstreams of health tourism are going to be evaluated on the basis of secondary data. Furthermore, we identify place of health among individual values and its role in consumer decisions. During the analysis, we use data of national representative research to determine the Hungarian society’s opinion and judgments in the viewpoint of health. Uni- and multivariate statistical methods are going to be used to get a wide view in accordance with the investigated topic. Among our most important result, we define those consumer groups, in which health has a highlighted role in consumer decisions. We introduce lifestyle characters of these segments and determine them special needs in connection with purchased goods and services. This type of characterization makes it real to organizations of health tourism to develop a more effective marketing communication strategy and improve service features according to consumer needs.
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DIVESTITURE POST MERGERS AND ACQUISITIONS IN INDIA – REASONS AND MODEL TO PREDICT
Views:262Divestitures post-acquisition are a common occurrence yet the jury is still out on whether they represent correction of prior mistakes or are a restructuring tool to improve performance in the hands of managers evaluating overall portfolio of assets. We take a sample of 1,344 deals buy Indian public listed buyers from 2000 to 2020 of which 13% were followed by a divestiture to create models to predict if an acquisition is likely to be followed by a divestiture or not using logistic regression and discriminant analysis. Our model is more than 75% accurate in its prediction even when tested on unselected data (new data for the model). We find support for portfolio theory and reject the correction of prior mistakes theory to explain post-acquisition divestitures. We support the theory that financial constraints leads to post acquisition divestiture. We also support the theory on indigestion that post acquisition divestitures are due to cookie-jar problem where buyers are finding it difficult to integrate. Increased volatility and poor mean stock price returns both contribute to conditions leading to such divestitures. The model constructed is useful for shareholders and other stakeholders to predict whether a divestiture will follow an acquisition or not. Managers can also use the model to predict eventual outcome of their acquisition decisions.
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