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A multi-dimensional ethical approach to accounting and reporting practices
13-26Views:323Purpose – The purpose of this research is to find out the multi-dimensional ethical approach to accounting and reporting practices going on in India and abroad. What has been the shift in Reporting Practices by Indian companies? What drives the Indian companies to report on the non-financial matters?
Design/methodology/approach – This paper mainly focuses on the inclusion of Non-Financial Matters in the Corporate Annual Reports. An Empirical Survey was carried out and the questionnaires were administered to 122 respondents comprising of 75 academicians and 47 chartered accountants. This paper compares the perceptions of academicians and accounting professionals on the ethical reporting practices of the Indian companies.
Findings – The results were tested using the t-test analysis. The research suggests that more companies should report on their environmental, social, and corporate governance performance and find a way to express them in their Annual Reports and the reporting of data regarding the carbon emissions, energy use, pollution, impact on the local economy, etc., should be made mandatory for companies.
Research limitations/implications – The research included respondents who are currently living in Delhi. For more generalized opinion nationwide survey can be carried out. Another important category of stakeholder for judging the usability of Corporate Annual Reports could be the Institutional Investors.
Practical implications – The results of this study would help the policy makers in framing the guidelines for standardized annual reports, synergizing social and business interest needs on top priority. Corporate philanthropy needs to transform into the realm of core business and corporate social responsibility. Integrated reporting could pave the way for synthesizing financial and non-financial reporting into one form and give a holistic view of companies’ strategies to its stakeholders incorporating new dimensions of IFRS.
Social implications – More emphasis on Non-financial matters will certainly contribute in making the corporates more responsible to the society, environment, and to the future generations. -
Changes in the Relationship Between ICT Use and Economic Development in EU Member States 2010-2016
91-100Views:398In 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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The motivations for the diversification of the Nigerian economy focusing on sustainable agriculture
7-13Views:394Agriculture is one of the major branches of the economy in Nigeria, the most populous country in Africa. It employs around 70% of the population and its contribution to the national GDP ranges around 45% (2012). In spite of the fact that most of the area is arable the majority of food, the Nigerian population consumes, comes from imports. The paper attempts to provide in insight to the reasons, why Nigeria could still not achievew self sufficiency from major food crops and livestock. Beyond the rapid growth of the population, one of the major reasons is the rich oil and natural gas reserves, the exploitation and export of which has been providing with the country with “easy cash” for the recent few decades. Another reason is that the agricultural holdings are small and scattered, and farming is carried out with simple tools and techniques. Modern and large-scale farms are not common. The political leadership and economic decision makers of the country already recognized the necessity of the development of the food and agricultural sector, which – contrary to the oil industry – would exercise a deep and positive impact on the rural society as well. Nigerian agriculture is being transformed towards commercialization at small, medium and large-scale enterprise levels.
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Internationalization development of tertiary education system in the Republic of Croatia
95-97Views:262This 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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Externality effects of honey production
63-67Views:551Bee-keeping and honey production has a long history in Hungary. Honey is an important and healthy food of people and it can be consumed without any human processing. The honey production has important role, too. Some researchers say that if honey bee will extinct the humanity in the world would also extinct. It is true since plant pollination by honey bees is very important. It is confirmed by researchers’ studies that plant pollination by honey bees has significant positive external impacts on potential yields in orchards. Although the contribution of honey production to the GDP in Hungary is only a few per cent, other benefits play more important role. One of them is the positive external effect – mentioned above – and the other is the contribution to the biodiversity of the nature. This paper focuses on secondary research methods, gathering and evaluating data regarding the positive external impacts of plant pollination by honey bees as well as finding possible solution for the problem that bee-keepers have a lot of costs in connection with carrying honey bees to orchards, while farmers “only” benefit from the positive externality of plant pollination of their fields. To evaluate its economic effects a numerical HEEM-model was developed and applied for the Hungarian situation.
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The elements of strategic and marketing planning applied in the case of Avital company
111-112Views:279Presently, the environment that is characterized by rapid changesinallsocialspheres,thechallengesofrapidadaptation and survival in the market, the ability of thinking and acting in front of ‘’time’’is one of the key factors of success. Every day we have witnessed a large decline of the number of companies, poor implementation of many projects, poor implementation of governmentreforms, and life challenges of people to find work. On the other hand, there are individuals, organizations and companies that face challenges and changes very fast in all world markets and societies. Question that could be asked based on this is ‘’Why and how some companies manage it and the other not?"
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The responsibility of marketing and legislation in childhood obesity
85-90Views:282The purchasing power of youth is considerable; they are the market of the future. , the young generation is the most influenced and vulnerable segment of the economy. The greatest problem of the influencing of our children is the rising cost of childhood obesity. The health care system cannot keep up with the pressure of obesity. Today, the risk of obesity is a bigger problem than smoking or alcoholism. The greatest problem is that youth underestimates the cost and risk of consumption of foods with high levels of fats, sugar and/or salt.
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Investment analysis of plum brandy production – methodology approach
103-105Views:304The major prerequisite of successful entrepreneurship venture is quality of decision-making process. Decision in investment is the most important financial decision. It is a part of both long-term business planning process and strategic business definition. Using available investment appraisal methods, entrepreneur should make positive or negative investment decision. Within the development of the economic theory and the practice many of methods made decision-making process rational and gave the scientific and practical base for successful project evaluation.
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Comparative analysis of menus in the Northern and Southern Great Plain touristic regions
71-75Views:282The background of the study is based on previous studies dealing with the areas of Transdanubia and Central Hungary. Those works have proved the hypothesis of author that local ingredients and dishes represent minimum role on menus. The question is how similar or different the choice of menus of Northern and Southern Great Plain is from the previously examined areas of Hungary.Additional questions may also arise in terms of the usage of local ingredients available near catering units. This piece of work has studied several menus of Northern and Southern Great Plain, Hungary.The material was collected from different types of restaurants, ‘csárda’-s and inns. The methodology was two-tier: data collecting on the one hand, and the detailed examination of differences between the catering units on the other hand: the number of dishes, the right order of dishes, the appearance of local ingredients and dishes, the consideration of seasonality, the usage of different cooking methods and group of dishes. The study reflects the main problems of countryside restaurants in Hungary. Only a minimum number of dishes could be connected to local dishes out of more thousands.All in all, dishes are not as precise and perfect as the ‘old ones’used to be; that is why it is important for every expert to keep traditions alive in daily routines and by way of strategic means too.
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Trends on the Artificial Fertilizer Market and in Fertilizers Use in Hungary
5-12Views:427The fertilizer market in Hungary is rather concentrated, which has a strong influence on the price of the fertilizer. Our domestic fertilizer use is primarily determined by that of nitrogen. The use of phosphorus is also significant but the trends in the use of potassium do not match the total quantities applied in individual years. Consequently, it can be concluded that the majority of farmers still focus on the application of nitrogen and also apply phosphorus but either neglect or do not pay enough attention to potassium fertilization. The changes in fertilizer prices between 2006 and 2017 can be broken down into two periods. Until 2012 a very important and dynamic increase was observed as a result of which the prices of N, P and K fertilizers increased by 80-120%, 160% and about 120%, respectively. This was followed by a downturn in the market and in relation to 2012 prices there were 20-30/ decreases experienced until 2017 but the rate of this lagged behind the prices in other European countries. Owing to this trend the prices of N, P and K have increased by 60%, 100% and 80%, respectively, over the past ten years. The correlation between fertilizer application and the prices of fertilizers in any given year is low but there is a positive one observed between fertilizer application and the fertilizer prices in the preceding year. This means supposedly that farmers mostly buy the fertilizers they wish to apply not in the current but in the preceding year and store them until these are applied. There is a strong correlation seen between fertilizer prices and the prices of corn and wheat, which means that fertilizer traders also keep tabs on economic results and also increase fertilizer prices under the influence of higher prices. Furthermore, it can be claimed that there is no correlation between crude oil prices on the world market and domestic N fertilizer prices. This is an important factor since the primary base material of N fertilizers is natural gas and their production involves considerable energy costs as well. It can be seen, however, that this is not what determines our domestic fertilizer prices, which can be explained by the fact that the price calculations by the determining actors on the Hungarian fertilizer market is not based on costs but on the demand.
JEL Classification: Q13
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Strategic approach to sustainable business of Galenika Fitofarmacija A.D. in a context of accession of Republic of Serbia
109-110Views:248Strategic management is ultimately concerned with the quest for sustainable advantage. To be practical, advantage for commercial firms concerns earnings and sustainable means a concern with earnings into the future. Pearce and Robinson define strategic management as a set of decisions and actions that results in the formulation and implementation of plans designed to achieve a company’s objectives. David says that strategic management can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives. Strategy is also hierarchical concept – it takes place at three different levels: corporate, business, and functional. These levels correspond with the activities of managers in different parts of the organization.
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Police organization in the Republic of Croatia – problems in decision making
99-102Views:277During the last few years of my police work I had a chance to speak and share opinion with my work associates about the police system in Croatia. My colleagues sometimes shared my opinion and sometimes they did not about the quality of police organization. Everyone’s conclusion was that some sort of change in the police organization has to be made; organization of the police must follow and embrace modern standards in organization and conduct. Almost each person had the same opinion about police management and decision making. Their opinion was that management is not efficient; decision making is based on chain of command and not on finding good solutions; members of the management team do not have education or creativity to be qualified managers; form is more important than the quality of work.
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The understanding of international tourism development
61-62Views:242Tourism is travel for recreational, leisure or business purposes. Tourism has become one of the major players in international commerce, and represents at the same time one of the main income sources for many developing countries. This growth goes hand in hand with an increasing diversification and competition among destinations (Unwto, 2010).Working and serving in this pumping industry means to understand and react to the needs of all these people moving around this “small” planet! Success is defined by those who understand these needs and fulfill them to the satisfaction. Unfortunately, our industry is rather slow and we can be characterized as reactive instead of innovative.We adapt too slow compared to other industries that define the needs of their costumers before the costumers actually calls for it!
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THE ROLE OF TRADITIONAL FARM RISK MANAGEMENT STRATEGIES ON REDUCING CREDIT RISK IN TANZANIA AGRICULTURAL LENDING
Views:133Agricultural financing enhances food security, job creation, a transition from subsistence to commerce farming, and strengthens the overall economy. However, due to unfavorable weather and market conditions there is limited financing directed towards agriculture especially in developing countries. Despite smallholder farmers' high adoption rate of traditional risk management strategies to minimize these risks, little has been done to examine its moderating role on the relationship between agricultural risks and credit risks. Thus, this study examines the role of farm business risk management strategies on minimizing the influences of production and market risk on smallholder farmers loan repayment capacity. The quantitative study used pooled cross-sectional data from a Tanzanian commercial bank from 2019 to 2021, covering 1,277 smallholder farmers from different administrative regions. Using binary interaction effect logistic regression analysis model, the study's results indicate that irrigation, mechanization, and off-farm diversification significantly minimizes the effects of production and market risk amongst smallholder farmers in Tanzania, an indication that traditional risk management strategies are effective tools amongst smallholder farmers. On the contrary, on-farm diversification strengthens the influence of production and market risk on loan repayment amongst the smallholder farmers in Tanzania, the results that can be influenced by a number of factors, including poor diversification knowledge among smallholder farmers. In light of these findings, the study recommends that policy makers and other development partners to develop agricultural infrastructure and provide more extension agents that can educate smallholder farmers on the best practices on traditional risk management.
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The role of corporate branding in Serbian mobile phone operator market
Views:256This research is carried out to know the role of corporate branding in mobile phone network along with different influencing factors involved in the purchase of mobile telephone connections. This thesis discusses corporate branding from consumer’s point of view that how much they value it and what type of role it has.
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Reducing consumption of food with high level of fat, sugar and/or salt among young generation
79-85Views:328The 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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QUANTITATIVE RESEARCH OF FACTORS (CONVENIENCE OF ACCESS AND GENDER) INFLUENCING THE FOOD STORE CHOICE IN NAGYKŐRÖS
Views:244The objective of the research is to analyze the food purchasing decisions of Hungarian customers depending on priority factors (convenience of access and gender) that impact the food store choice.
To identify the characteristics of food shopping behaviour, we conducted a customer survey of 220 individuals in the city of Nagykőrös. The data collection was carried out using a standard questionnaire and an online survey on the Nagykőrös public life community social media portal, and by informing shoppers about the possibility to fill in the questionnaire in the Municipality’s posts. The sample can be considered representative based on the gender distribution of the primary food purchaser.
During the analysis of the data, in addition to descriptive statistics, we utilized factor analysis to describe the mindset of the customers, and created segments based on the factors influencing the choice of store using cluster analysis.
For the vast majority of consumers, the primary determinant in selecting a store is the affordable price level, regardless of how often they make purchases. When shopping on a daily basis, customers prioritize the store’s proximity to their residence, promotional discounts, and variety of products available. Men tend to value a relaxed ambiance and convenient parking, while women prioritize special deals and competitive prices when choosing their regular shopping location
We have identified price sensitivity, accessibility, location, and atmosphere as key factors. Throughout our research, we have categorized customers into four distinct clusters: Action-oriented family members (36.1%), Conscious shopping family members (29.9%), Price-conscious seniors (20.6%), and Curious beginners (13.4%).
A significant hurdle for Hungarian retail companies is to enhance the quantity of their loyal customers, which they can solely achieve by taking market share from their rivals (primarily other retail companies). Initially, they must determine whether their customer base favours their kind of store for everyday or bulk shopping. They must cater to the demands of their target customer base (potentially the clusters established by our research) in relation to the key factors influencing store selection and purchase frequency, in order to attain success in their business. We suggest utilizing the factors that influence store selection as segmentation criteria.
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L’Antica Pizzeria da Michele as a Case Study of Traditional Speciality Guaranteed and International Franchising
17-23Views:868This work explores the case study of L’Antica Pizzeria da Michele as a best practice of traditional speciality guaranteed and international franchising. Besides being one of the most ancient and successful pizzerias in Naples, da Michele is renowned all over the world for the quality of its raw products, dough processing, and output. In the last years, da Michele also started pioneering the pizza production and commerce industry with an innovative franchising model and a new company appointed to managing this latter business. This work makes use of in-depth interviews and data collected on the field. For such scope, top managers and employees of both the local and the international companies were interviewed. The study finds that da Michele managed to become a benchmark for territorial food products and, more recently, for high-standard franchising, jumpstarting a successful brand-new company and food business project.
JEL Classification: O13, Q13, Q16, Q1
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Agrarian budget as an instrument of agrarian development policy of Serbia
Views:281Purpose of the research is to emphasize the role of agrarian budget in development of Serbian agrarian economy and to examine the problem of agricultural and rural development financingsupport.Furthermore, in this research initial reforms of economic measures have been analyzed concerning Serbian agrarian policy. The goal of this paper is to provide an insight into the role of agricultural budget in agrarian policy of Serbia.The first part of the study gives an overview of macroeconomic situation in Serbia and impact of the financial crisis on Serbia’s economy. Second part includes analysis of the topic item, i.e. agrarian budget role in Serbian agrarian sector. It includes review of relevant literature and researches already conducted on legislation and practice of Serbian agrarian policy as well as examination of statistical data regarding present agrarian budget for 2009.The research focuses at the Serbian agrarian budget for 2009 and agrarian policy of the present Serbian government administration.
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Quality-satisfaction-loyalty: consumer behaviour in catering
5-11Views:432Our study is the result of the initial research of a qualitative and quantitative research consisting of more stages. The survey was made between 2007 and 2013 and specially focused on the satisfaction of Hungarian customers of catering enterprises with hot kitchen as well as on factors influencing satisfaction and customer loyalty. The results proved that a well planned, central strategy cannot be prepared for the whole catering industry as even enterprises with the same profile (warm food kitchen) show significant differences. The most important task for an enterprise is to establish and know its appropriate clientele well in order to suit its services, selection to their requirements. Our assumption that customers of fast food restaurants, canteens have lower expectations from selection, personal relations, quality of services than customers of restaurants, public houses, wayside inns, brasseries with traditional methods of selling was proven. In the lattest, the main aspect of choosing a 'favourite place' was the quality of human relations, with the special role, besides other customers, of the staff. Establishing unique atmosphere to the liking of customers can be regarded as an important point of the operational strategy. It was also proven that the majority of regular customers of restaurants are men, coming from the economically active population. Other active users are youngsters, they mainly go to fast food restaurants. More impersonal advertisements hardly have any effect, while successful word of mouth propaganda can be achieved by consequent, high level work. Regular customers can be characterized by rather emotional than market-based attachment. Favourite units are mainly preferred because of their atmosphere, relationships with acquaintances and friends, not because of measurable features, selection or prices. Those visiting catering enterprises with hot kitchen more frequently are more critical and less satisfied, in spite of this, they are reluctant to part from their regular places.
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Liquid bio-fuels in Hungary: effects and contradictions
89-94Views:314The increase of living standard requires ever more energy, despite energy saving measures. Domestic growth was 100 PJ between 2000 and 2006, and 77% of the total utilization was importe (Hungarian Central Statistical Office, 2008).Sustainability was endangered not only in our energy and commerce policy. Our domestic natural conditions are suitable for plant production; however, the stagnation of the domestic population and decreasing livestock numbers restrict in land marketing. Therefore, significant surpluses from year to year had to be stored and sold abroad, and the fact that the interventional purchase of corn and the expected stringent new EU regulation of the sugar beet sector, make the strategic significance of these branches uncertain. The difficult marketing opportunities make the better utilization of our opportunities in producing liquid bio-fuels possible from marketing aspects, while environmental issues and realizing the EU directions enforce to do so in a longer term. Over the short term, agricultural and competitive aspects will determine its spread, which cause different effects in Europe in comparison with the developing countries. According to Nábrádi-Ficzeréné Nagymihály, 2008, one of the breaking points of Hungarian agriculture lies in the utilization of alternative energy sources. During the past period, many contradictory opinions came forward relating to economies, agricultural effects, food risks as well as the energetic and environmental efficiency of bio-fuels. One thing is certain: these fuels are already used today and their significance has been increasing. Although due to technological development, spread of new products and processes (cellulose-based bioethanol, bioethanol, biogas, hydrogen, biomethane) will obviously have to be expected in the future, at present biodiesel and bioethanol are determent among bio-fuels, thus I deal with these as well as their energetic and agricultural effects in my study.
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Comparative analysis of menus in the Northern and Southern Great Plain touristic regions
63-64Views:302The background of the study is based on previous studies dealing with the areas of Transdanubia and Central Hungary. Those works have proved the hypothesis of author that local ingredients and dishes represent minimum role on menus. The question is how similar or different the choice of menus of Northern and Southern Great Plain is from the previously examined areas of Hungary.Additional questions may also arise in terms of the usage of local ingredients available near catering units. This piece of work has studied several menus of Northern and Southern Great Plain, Hungary. The material was collected from different types of restaurants, ‘csárda’-s and inns. The methodology was two-tier: data collecting on the one hand, and the detailed examination of differences between the catering units on the other hand: the number of dishes, the right order of dishes, the appearance of local ingredients and dishes, the consideration of seasonality, the usage of different cooking methods and group of dishes. The study reflects the main problems of countryside restaurants in Hungary. Only a minimum number of dishes could be connected to local dishes out of more thousands.All in all, dishes are not as precise and perfect as the ‘old ones’used to be; that is why it is important for every expert to keep traditions alive in daily routines and by way of strategic means too.
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The role of the green week in the MBA curriculum
Views:250The 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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Reducing consumption of food with high level of fat, sugar and/or salt among young generation
85-91Views:290The 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 9minutes. 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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Is it worth being socially responsible?
73-80Views:416Several definitions for corporate social responsibility (CSR) exist and these vary greatly as to the activities it should cover and their motivators. Among the benefits of CSR are positive marketing/brand building, brand insurance and employee loyalty. Numerous arguments against CSR prevail, e.g. social responsibility is not a problem that belongs in the sphere of activities a corporation should be addressing or even that CSR distracts businesses from addressing the primary need to concentrate on sales. Thus, the strong economic question: is CSR worth it? In 2014, we carried out a representative survey in Hungary, in which the effects of responsible business practices on consumer purchase behaviour were studied. With our research results, we could show that there is a considerable gap between the apparent interest of consumers in CSR and the limited role of CSR in purchase behaviour.
JEL classification:M104
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