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• Role of the organizational factors in the success of Hungarian SMEs

  108-125

  Aniko Almasi

  Views:

  748

  This paper analyses the success of the Hungarian SME sector from the aspect of competitiveness, innovation, organizational background and the role of the leader/owner. The author summarizes the organizational innovation specialties of the SMEs based on four empirical researches and own case-study. The conclusion is the organizational innovation characteristically fades into the background of SME operation, development purposes and strategy. The role of the firm owner-leader is essential in these topics. Meanwhile the inflexibility of the organization, loyalty of the employees, labor market disadvantages, the knowledge level and competency of the human resources, its effect on the efficiency are often limit the expansion. These factors have significant influence on the success and competitiveness of the company. Therefore, the paper analyses the organizational innovation and background according to the company success, and the leader-based decision-making procedures, and processes, and evaluates the results of secondary research based on these. The novelty of the empirical research method is the search for GAPs between the leader and the organization and their correlation with success and attitude towards innovation.

  Journal of Economic Literature (JEL) codes: M14

• The Actual Experiences of SME Lending

  70-96

  Zsolt Zsombori

  Views:

  300

  This paper is intended to show the quantitative research results of an actual survey conducted within 82 active SMEs in Borsod-Abaúj-Zemplén County. The sample of participants was selected by a two-step combined sampling method resulting in a nonrepresentative, but still useable data collection. The survey especially focused on identifying and ranking SME pressing factors, identifying and ranking credit prohibiting factors from the viewpoint of SMEs, identifying the actual financial preferences of SMEs with special attention to subsidized credits and non-refundable subsidies. It gives actuality to most of the aforementioned questions that currently even the Central Bank of Hungary pays attention to boost the crediting activity by its Funding for Growth Schemes (FGS).

  Journal of Economic Literature (JEL) codes: G30, G32, G39

• Strategy and strategy formulation in Hungarian SME practice

  19-32

  Anna Salamonne Huszty

  Views:

  198

  This study deals with the second phase of a two-year research program focused on modelling the lifcycle of small ventures operating in the Hungarian market. The results of the first phase were published in the March 2006 issue of Competitio. The goal of the second phase was to analyze the role of strategic thinking and strategy formulation at small ventures in different phases of ther lifecycles. The strategy making approaches as described by Henry Mintzberg and strategic positioning models of Micheal Porter were used to generate hypotheses. Strategy making practices and typical market maneuvers are described in detail. Key weaknesses and development problems are highlighted. Basic Business models built on srtategic behavior are recommended as a starting point for further research.

• Outward direct investment versus technology licensing: an SME perspective

  55-70

  Andrea Szalavetz

  Views:

  165

  Based on the example of the evolution and internationalization of a Hungarian wastewater treatment company, this paper investigates various theoretical and strategic management issues. As for the
  theoretical part, Hungary’s outward direct investment performance is analyzed departing from the thesis that Hungary’s present seemingly favorable OFDI performance is just a statistical artifact. It is
  only organic development, based on local entrepreneurs’ capital export that can substantiate Hungary’s present OFDI position. The strategic management issues analyzed in the paper include the sequencing of internationalization; the pitfalls related to growth; modes of foreign market entry; and the choice between FDI-based internal exploitation of technological knowledge and external technology exploitation in the form of technology licensing.

  JEL codes: F23, L24, L26, O16, O33, Q57

• The Marketing Concept, Market Orientation and Marketing Competencies: How are they Adopted in Small and Medium-sized Firms?

  104-117

  Eniko Kontor

  Views:

  135

  The aim of this paper is to review the literature dealing with the marketing concept, its implementation, i.e., market orientation, marketing competencies and their effects on performance with special emphasis on small and medium-sized enterprises (SME). A large number of studies have shown that, on the one hand, the lack of a conceptual marketing approach is one of the most serious problems owner-managers face in business operations and, on the other hand, marketing is recognised as one of the most important business activities essential to the survival and growth of the enterprise. According to the literature,
  the adoption of the marketing concept/market orientation in SME-s is limited, due to limited resources in finance, time and marketing competencies.

  JEL classification: L26, M14, M31

• The Impact of the Economic Crisis on the Development Lifecycles, the Short-term Plans and the Strategy of the Actors in the Hungarian SME Sector

  29-43

  Anna Salamonne Huszty

  Views:

  208

  This study was prepared in the third phase of a multi-year research project. The goal of the program was to analyse the growth trajectories and strategies of Hungarian SMEs. Research in the first phase was focused on the specific periods of typical company lifecycles, the second phase dealt with strategic thinking, methods of strategy formulation and the content elements of strategies. The findings and conclusions were published in the journal Competitio. The present study is a report on the findings of the third phase of the research program. It describes the consequences of the recent economic and financial crisis on SMEs. It describes how unexpected and radical changes in the business environment influenced the development of firms, how managers reacted, and how they considered short and long
  term factors in their decisions.

  JEL classification: L21, L26, M1