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Competiveness of the Hungarian pig sector
103-107Views:119The number of Hungarian pig population was 3.2 million in February 2010, 150 thousand less than in the previous year. This included 226 thousand brood sows, 54 thousand less than in the previous year, and this number is expected to fall further next year. In the past two years the number of brood sows decreased to a larger extent in economic organizations than in private farms (KSH, 2010). Despite the rising costs of feedingstuffs, producer prices for slaughter pigs have decreased, therefore private farms with small herds of brood sows haves old their breeding animals for slaughter houses. However, economic organizations mostly tried to restructure their production and place emphasis on plant production, thus improving their situation. These market changes indicate that the sector continues to scale down, production shrinks, market losses are continuous within the sector and vulnerability threaten the players of the product cycle increasingly.
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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:187The 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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Experiences on organisation of fruit and vegetable sector in Hungary
65-67Views:151The 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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Willingness to pay for locally produced organic foods by urban consumers in Sri Lanka
15-22Views:447Organic food consumption is gradually increasing among Sri Lankan consumers due to an increased awareness on healthy food. Some consumers ready to pay more for organic food, but it varies according to many factors. Therefore, the main objective of this study was to evaluate the urban consumers’ willingness to pay (WTP) for organically produced food in Sri Lanka. The specific objectives of the research were to investigate the socio-economic factors, the level of awareness on organic food, the present situation of buying, and the level of additional price ready to pay and analyze the impact of socio-economic factors on consumers’ willingness to pay. The research was conducted in urban Sri Lanka, covering capital cities of six urban districts of the country; Colombo, Galle, Gampaha, Kandy, Kurunegala, and Rathnapura. Data were collected from November 2016 to May 2018, from 600 consumers, by selecting 100 consumers per city. Data analyses employed were a descriptive analysis and binary logistic regression. Results revealed that, the most of the consumers were females, married, and with a comparatively higher level of education and monthly income. Most consumers had a significant level of awareness about organic food. A lesser proportion of consumers (24%) buys organic food at present, while the majority (52.4%) was willing to pay an extra price. Out of these consumers, the highest percentage (29.3%) prefers to pay 26% to 50% premium prices. As per the results of logistic regression, age, gender, monthly income, and education were the deciding factors for consumers’ willingness to pay a premium price for organic food. Results of this research are helpful for the development of production and marketing strategies and awareness programs for urban consumers on local organic food products.
JEL CODE: Q1, Q13
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Significance of wheat production in world economy and position of Hungary in it
115-119Views:279This article intends to introduce the significance of wheat production in world economy and role of Hungary in it on the basis of statistic database of FAO. Importance of wheat production in world economy is proven by its share of 15% from 1500 million hectares arable land in the world. This rate is equivalent to 225 million hectares of wheat area based on FAO figures for 2009. From its world economy significance view point, on the basis of some significant features it sets order of ranks among wheat producing countries, accompanied by Hungary too. Setting of rank orders is based on the quantity of wheat produced by countries, cultivated area and exported, imported wheat quantity. As regards wheat export in 2008, Hungary was placed as 11. in the world while on the basis of produced quantity and cultivated area it did not achieve any of top 20 countries. Wheat import of Hungary is negligible since its wheat production is greatly over the self-sufficiency level in one production year. Our logistics disadvantages indicate one of considerable difficulties of market access for primary materials in domestic plant production.
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The statistical analysis for the theoretical bio-methane market based on the opinion of car-owners of Hajdú-Bihar county in Hungary
27-30Views:149The more expensive fuels and the health-threatening air pollution make even necessary the spread of such a fuel, which serves as a solution to these problems. In our country at present there are three public CNG filling stations, two of them are located in Gyôr and Szeged and the third one was opened at the end of October in Budapest. The lack of infrastructure obstructs the spread of the methane gas powered cars in Hungary. During my research getting information by means of a test questionnaire I measured the fuel selection of the drivers and their opinion about alternative fuels. Then on the basis of the results I determined the potential target audience of the bio-CNG. As it is also typical in our country, the most of the respondents use gasoline-powered vehicle and drive less than 12 000 km/year on an average. 55% of the respondents would have their car converted in order to refuel cheaper and to protect the environment, consequently there would be demand for CNG. The potential target audience is the urban population below the age of 41 with higher education degree and average salary. One of my future objectives is to design a CNG filling station network in Hajdú-Bihar county considering the demand of car owners.
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Market trends and consumer demand for fresh berries
11-14Views:502We present an analysis of markets for fresh strawberries, blueberries, blackberries and raspberries in the United States during 2008–2011. We use weekly panel data covering supermarket purchases in 52 cities. The primary goal is to estimate demand elasticities for fresh berries and thereby provide a better understanding of consumer behaviour in response to price changes and the nature of competition among these crops. We estimate fixed and random effects models for double log demand equations and a complete demand system, the Almost Ideal Demand System. The latter specification can be used to estimate demand relationships that conform to utility maximising behaviour. The elasticity estimates are very robust across the different specifications and estimation methods. This increases confidence in our findings and provides some assurance that choice of functional form or estimation method is not driving our results. We find that retail demands for all berry crops are in the elastic range and that the different berries are substitutes for one another. The demand for strawberries was the least elastic with an own price elasticity of –1.26 and blackberries were the most elastic with a demand elasticity of –1.88. Blackberry demand was also the most responsive to the prices of competing berry crops. The study provides clearer insight into markets for berries in the United States. In addition, it fills a gap in the present lack of up-to-date consumer demand elasticities for these crops and will be useful for growers, decision makers and consumers.
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A study on consumer habits in the dietary supplements market
5-12Views:682There 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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Reducing consumption of food with high level of fat, sugar and/or salt among young generation
79-85Views:164The young generation is the most influenced and vulnerable segment of the market. Food with high level of fat, sugar and/or salt are popularised for this segment.At the same time nearly 7 people die of obesity or from complications of obesity in Hungary each hour – one every 9 minutes. Less than 10% of youth are of the belief of eating healthy and more then one third of youth don’t take care about healthy eating. The young generation can be especially influenced by use of well-known persons, prize games and free gifts. The idea of fat tax’s introduction could be an obvious proposal.
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Changing patterns in hotel room demand – case study of the Aquaticum Debrecen Thermal and Wellness Hotel
51-55Views:134Aquaticum 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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Reporting companies’ performance – in respect of the international financial reporting standards (IFRS)
107-112Views:213The role of information became more important due to rapidly changing technical conditions, market and economic regulations in our globalizing world. Several regulations tend to provide the framework for reporting performance and income of the companies, but in different statements performance is inconsistently presented and many kind of evaluation method exist in the practice. These facts led to the demand of properly assess the financial health of an organization, and created a commonly accepted rule-system, which name was International Financial Reporting Standards (IFRS). In this paper I tend to present the statements, definitions and factors, which can have great influence in representing the performance, income of the company in the frame of the IFRS, and reveal the differences between the other accounting regulations (EU directives, Hungarian Accounting Act) in this field.
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Interventions to encourage sustainable consumption
51-58Views:543Sustainable consumption is hampered by a discrepancy between consumers’ attitudes and their actual behaviour in the market place. Psychological construal level theory provides an explanation for the attitude to behaviour gap as a motivational conflict between high and low level of mental construal. Based on self-determination theory it is argued that this motivational conflict presupposes extrinsic motivation for sustainable behaviour. Based on self-regulatory styles, the present paper identifies and illustrates four types of intervention strategies that can cater for extrinsic motivation for sustainable development among light users. The underlying mechanisms of these interventions suggest that the transition from external to internal regulation is catalysed by social feedback.
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The role of agribusiness in stimulating on-farm investments – case-study of the armenian dairy sector
85-91Views:142This paper analyses the impact on investments of contractual arrangements between farms and agribusiness in the Armenian dairy sector. Our empirical evidence is based on a unique survey of 300 Armenian dairy farms. The dairy sector is of particular importance as it provides vital employment and income, in an environment of weak social security and scarce job opportunities. Furthermore, milk production is predominantly organized in small-scale farms, which are most likely to be affected by adversarial financial conditions and limited in their opportunities to raise resources to invest. The results show that a large share of milk producers in Armenia is actively investing to upgrade their farm business. Furthermore, investment activity is not limited to large dairy farmers as over 30% of respondents with less than eight cows have made dairy-specific investments. We find that the linkages between farms and agribusiness – and more specifically the support programs that agribusiness firms offer to their suppliers – have been crucial in stimulating this restructuring process at the farm level. Interestingly, farmers with a more exclusive relationship to the buyer and farmers that deliver to more internationally oriented buyers are more likely to receive support. On the other hand, buyers that operate in a more competitive market are less likely to provide support to their suppliers. These findings have interesting policy implications. On the one hand, our results point to the gains that can be made from openness to international firms. On the other hand, the negative competition effect indicates that buyers are unable to enforce repayment of the provided farm services in an environment where a lot of buyers are competing for the same supply. Policy makers should look at ways of improving the enforcement capability of dairy companies under these circumstances.
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Problem analysis of the Hungarian tobacco sector
161-166Views:192The 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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Changing patterns in hotel room demand – case study of the Aquaticum Debrecen Thermal and Wellness Hotel
43-47Views:184Aquaticum 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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The economic efficiency of apple production in terms of post‑harvest technology
99-106Views:143This study analyses how the level of postharvest technology’s development influences the economic efficiency of apple production with the help of a deterministic simulation model based on primary data gathering in producer undertakings. To accomplish our objectives and to support our hypotheses three processing plant types are included in the model: firstly apple production with no postharvest and prompt sale after the harvest, secondly parallel production and storage combined with an extended selling period and thirdly production and entire postharvest infrastructure (storage, sorting-ranking, packing) with the highest level of goods production and continuous sales. Based on our results it can be stated that the parallel production (plantation) and cold storage, so the second case is proved to be totally inefficient, considering that the establishment of a cold storage carries enormously high costs with resulting a relative low plus profit compared to the first type of processing plant. The reason for this is that this type is selling bulk goods without sorting-grading or packaging; storage itself – as a means of continuously servicing the market – is not covered properly by the consumers. Absolute efficiency ranking cannot be established regarding the other two processing plants: plantation without post-harvest infrastructure resulting lower NPV, but a more favourable IRR, DPP and PI as developing a plantation and a whole post-harvest infrastructure.
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Cost analysis of pig slaughtering: A Hungarian case study
121-129Views:248The scale of Hungarian slaughterhouses is small in international comparison and the cost of slaughter and cutting a pig of average live weight is relatively high at 16.1-19.4 EUR on average. The aim of this study is to evaluate the cost of pig slaughter and cutting through the case study of a medium-scale plant in Hungary. Based on data from the enterprise, a calculation was performed in relation to the “output” quantity of pig slaughter and cutting, as well as its value and the cost and cost structure of processing. The capacity of the examined plant and its utilisation were analysed and cost reductions were estimated for various increases of output. In 2015, the direct cost of slaughter and cutting was 18.9 EUR per pig for the medium-scale plant which processed 100 thousand pigs. When the purchase cost of pigs is excluded, labour costs accounted for the highest share (30%) of costs, followed by services (29%) and energy costs (21%). For this reason, the level of wages and employer’s contributions has a rather high significance. Analysis showed that significant increases in Hungarian minimum wage and guaranteed living wage in 2017 resulted in an estimated 7% increase in the cost of slaughter and cutting compared to 2015, despite the decrease of contributions. The capacity utilisation of the plant was a low 28% when compared to a single 8-hour shift considered full capacity. The cost of slaughter and cutting was estimated to be reduced to 14.2-17.0 EUR per pig if the plant operated at full capacity. This may be considered a lower bound estimate of cost because there are numerous restricting factors on optimising capacity utilisation, such as: 1) number of live animals available for purchase and related logistics; 2) cooling capacity availability; 3) labour availability; 4) market position of the enterprise and potential for marketing additional pig meat products. Enterprises of this scale are recommended to consider producing more value-added products and, accordingly, investing in product development.
JEL Classification: Q13, Q19
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Economic analysis of some agrotechnical factors in maize production - a Hungarian case study
5-16Views:470This paper focuses on the economic and statistical evaluation of the production technology findings of the polyfactorial maize production experiments carried out between 2015-2017 at the Látókép Experiment Site of the University of Debrecen, Faculty of Agricultural and Food Sciences and Environmental Management. The examined agrotechnical factors included irrigation, previous crop, tillage, crop density, hybrid and N nutrient supply, while the effect of different crop years was taken into consideration. In addition to descriptive statistical methods, we used multivariate regression analysis during the statistical evaluation. In the course of the evaluation, we examined three models that differed in terms of tillage methods and the consideration of crop year. In our best fit model, the factors were 71% responsible for the change in yield value. We carried out efficiency and comparative analyses in the course of the economic evaluation.
Averaged over the three examined years, it can be stated that nutrient supply and crop year had an outstanding effect on yield, while irrigation had a minimal effect. However, global warming may justify irrigation in the future, not only from a biological point of view, but also from an economic aspect.
Ideal tillage is also greatly affected by crop year, too. Altogether, of the examined tillage systems, subsoiling proved to be the best from an economic point of view.
Our investigations confirm that it is better to perform intensive farming under more favourable market conditions. The optimum of N fertilisation is probably outside of the range we examined, if the extreme changes in maize and fertiliser prices are ignored.JEL Classification: Q16, Q12, Q13, O32
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World importance and present tendencies of dairy sector
119-123Views:231The general objective of this paper is to present the world importance of dairy sector and to illustrate present tendency of milk production, consumption, trade and prices mainly based on FAO data base. World milk production was 711 million tonnes in 2010 and it is expected to increase in the future. The most significant milk producers are the EU(27), the United States and from the Asian countries, India and China. Developed countries give one-third of world milk production, while more than two-third of world dairy herd can be found in developing countries. Milk production growth is a future tendency mainly in China, India, Pakistan, Argentina and Brazil. The average level of consumption of milk and milk products is 103,6 kg/capita/year and it will increase in developing and developed countries as well. The ratio of international trade of milk and milk products to production is 6 percent and itmay expand in the future. New Zealand, the EU(27), theUnited States andAustralia are themajor exporters. There is a strong demand formilk andmilk products among others from the Asian countries, the Russian Federation,Algeria,Mexico, Saudi Arabia and the United States.Analysis of world market price of the most important dairy products it represents a strong recovery from last year, but it still remains 20 percent below its peak value in early 2008. However prices have doubled compared with prices of period of 2002–2004.
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Multifunctional agriculture: An engine of regional economic growth?
7-15Views:146The historical role of agriculture in economic geography and recent conceptual developments – including multifunctional agriculture (MFA), the new economic geography, amenity-driven growth, and the “world is flat” and “creative class” hypotheses – are examined, and recent empirical research in NorthAmerica and Europe is reviewed, in order to assess the potential for MFA as an engine of regional economic growth. Ideal MFA policy corrects market failures and is mostly amenity-augmenting. It has the capacity to enhance opportunities for farmers on urban fringe; stimulate growth in high-amenity rural regions accessible to cities that offer opportunities for high-value work; and generate growth in relatively remote high-amenity regions. The scope for market-failure-correcting MFA policy to propel economic growth in lessfavored regions is limited – remoteness is non-responsive to policy in the short to medium term, and amenities that attract in-migration (e.g. proximity to sea, lakes, mountains, pleasant climate) are givens for favored locations but can at best be complemented by pro-active policy – but not trivial. While this paper focuses on regional economic growth, it well to rememberthat growth is not everything. Regions unlikely to experience growth need to create satisfying futures. Market-failure-correcting MFA policy has the potential to improve quality of life, well-being, and perhaps incomes in many if not all rural places regardless of location. This accomplishment would not be trivial – economic growth for all regions regardless of resources, amenities, and remoteness is not a serious prospect, and regions in decline face daunting problems maintaining essential services and quality of life.
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Analysis of consumer habits and attitudes on the Hungarian beef and rabbit market
67-70Views:238As a consortium partner the authors took part in a research project aiming at the development of high added value, healthy and environment friendly animal products. From among the products developed by the consortium (rabbit meat, omega3-fatty acid enriched beef, goose liver from non forcible feeding, selenium-, vitamin-E and natural color enriched eggs) the present study describes the results concerning beef and rabbit meat. The given products are chosen because they are produced in and exported from Hungary in considerable quantities and their competitiveness can be further improved. In order to able to map the consumer preferences a 300 count nationwide, representative, questionnaire based survey was designed and performed. Actual products were tested by focus groups and professional interviews. Beside the specific features of the products a common character is that the marketing strategy focuses on the distinctive nutritional benefits and other quality parameters that seem to be of crucial importance for the targeted consumer segment. Their unique character and health protecting effects make their branding and using community labeling easy. Their positioning points toward the prestige products therefore consumers tend to accept higher prices. In marketing communication the image building advertisement can be a common goal.
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Analysis of the cavebath of Miskolctapolca’s brand elements and guests satisfaction
155-160Views:302In 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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Analysis of time management and self-management work practice by leaders – a focus group study
133-140Views:658Nowadays excellent leadership is one of the foundations of high organizational performance. Leadership excellence is a complex topic but efficiency and effectiveness are important components of it. These are closely linked to self-management and time management. In our focus group research, we asked senior executives about how they organize their average workday. We used two theoretical models: the Blue Ocean model and the Franklin Covey time-matrix. According to the participants the key component of effective self-management is the time management. In their leadership practice they often use a digital task manager, a workshop, an informal meeting as a tool and they find knowledge sharing also very important. They try to approach their employees empathetically. They would like to reduce the administrative tasks, spend less time on correspondence, travel and “small talks”. They would like to spend more time on automation and communication, further training and team work and dealing with the employees. They think that strategic planning, market analysis, sales, knowledge development and transfer should require more planning.
JEL code: M12
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The economic aspects of innovation in sheep breeding
97-104Views:132During my investigations, I highlighted three innovations, all of which serve the production of a final product, sheep kefir. This product contains a unique added value and involves several innovational opportunities. I examined the complex economic analysis of the innovations and technological elements investigated with respect to revenues from the sale of sheep milk, sheep cheese (kashkaval) and sheep kefir. The kashkaval-type sheep cheese does not contain sufficient added value to cover the costs of innovational investments. Investigating the innovational activity for developing sheep kefir and for its market introduction, its cash flow balance becomes positive already in the second year after realization, and is able to generate significant profit.
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Members of a supply chain and their relationships
131-134Views:242Today, companies do not compete individually on the market, but as members of a supply chain, delivering their goods or services to customers through shared collaboration. The main objective of the members in the chain is to satisfy customer needs, in the interest of which they cooperate in value adding processes. The main objective of the present study is to characterise the members of a supply chain, their relationship and to measure performance. The most relevant literature published on this topic states that investigation of the performance measurement in supply chains from the side of relationships is considered ‘uncharted territory’. However, the operation of a supply chain cannot be described without investigating its relationships.
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