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• Human resource management in practice and the organizational development

  114-125

  Mária Ujhelyi

  Views:

  22

  In the beginning of the third thousands, the leaders of important companies face great challenges. Human resource management plays a strategic role in more and more companies, and its representatives are becoming leaders at the companies. The author's research shows the connection between human resource management and the practice of human resource training and progression management. She wants to prove that the practice of human resource management and organizational development as a special type of progression management are greatly related. This essay is a result of her studies, which shows the connection between human resource management and the values directed by organisational development.

• Management Standards for Competency Management

  93-108

  Laszlo Berenyi

  Views:

  273

  Nowadays the knowledge-based economy and organizational development is intertwined with competence-based management. The creation and flow of individual and organizational knowledge elements are critical from this point of view. Knowledge management methods are available but there is lack of application. Based on my research and consulting activities, I have experienced that many organizations are unaware of the possibilities available to them, or are unable to utilize the advantages. In this paper I try to demonstrate that the requirements of the internationally used ISO 9001 standard provide a framework for knowledge-based development. Beyond the theoretical issues the paper summarizes
  the limits of practical application.

  Journal of Economic Literature (JEL) classifications: D83, M19

• Human Resources Management in the Changes in Hungary In the Light of Two Consecutive Cranet Researches: Két egymást követő Cranet felmérés eredményei alapján

  92-110

  Martonne Karoliny

  Ferenc Farkas

  Jozsef Poor

  Views:

  400

  Management, including Human Resources Management, has undergone major changes in Hungary since the economic and political changes of 1989. This area is even regarded as a field of continuous transformation. This study makes an effort to compare differences and similarities of specific features of Human Resources Management in Hungary in the light of two consecutive surveys, Cranet 2005 and 2008 (Cranet is an established group of top business schools and academic institutions, all collaborating to provide unique and rigorous data on human resource management practices across the world). According to these analyses, the study compares typical characteristics and practices of Human Resources Management in Hungary with major trends and tendencies of this field in 32 countries, including 6 countries from the Central and Eastern European region as well.

  JEL classification: J24, M1, M54

• Competitive adavntages: Theory and corporate practice

  51-70

  Gabor Hovanyi

  Views:

  166

  The competitive advantage achieved by a company basically influences its profitability and market position. The article shows that in addition to this the evaluation has many other criteria, and the management must consider these when defining competitive adavantage. The study explains that as a result of the acceleration of technological and economic development, the globalization of economic processes, and the evaluation of networks of interdepedence, the management have to face new types of competitive advantage. To choose between these the management has to consider competitive vulnerability. Following this the article attempts to summarize the basic law of the theory of competitive advantage, before introducing the most important management techniques for the selection of competitive advantage. Finally, the study emphasizes that the key factor in  achieving a competitive edge and the success of different management techniques is the CEO, and through the model of the "CEO's personality pyramid" it explains the requirements that the manager has to meet.

  Journal of Economic Literature (JEL) classification: O30, O32

• Trends and Tendencies in the Development of HR Departments in Hungarian State Universities

  115-146

  Jozsef Poor

  Andrea Bencsik

  Ivan Fekete

  Zoltan Majo

  Gyula Laszlo

  Views:

  305

  In the last couple years it has been fully accepted that human resource management plays an increasing role in the success of organizations, and also in the development and sustainability of national and international competitiveness (Gordon- Whitchurch, 2007). In the developed industrial countries – mostly the Anglo-Saxon pioneers – public institutions (including higher education) abandoned the normative and bureaucratic-controlled Taylor system (Karoliny et al, 2003). Beginning in the 70’s representatives of the New Public Management model, based exclusively on the effectiveness of business solutions, gained more ground. The early 80’s brought the widespread implementation of reform programs. These efforts have created models and experience that were applicable in the converging countries of Europe – including Hungary. After reviewing the latest professional literature and analyzing practices of eleven Hungarian universities we will assess the conversion of Human Resource Management and consider possibilities for modernization.

  Journal of Economic Literature (JEL) classifications: I21; H19; M52;M53;M54

• The role of dynamic relationship capabilities and loyalty in organisational relationships

  76-92

  Erzsebet Hetesi

  Marton Vilmanyi

  Views:

  259

  In this study we try to answer the question of how Hungarian organisations can be depicted in terms of relationship management in networked relationships, and how the nearly fouryear global economic crisis influences the perception of relationship capability and B2B loyalty in organisational relationships. First we review the theoretical background of dynamic relationship capabilities and B2B loyalty, then we show our empirical research results, and we try to identify the factors involved in relationship management and B2B loyalty. From our point of view relationship management has an effect on B2B loyalty, and we support the hypothesis that where relationship management is a conscious action, there are evolved procedures for this. These connected mechanisms have a positive impact on the evaluation of relationship quality and contribute to partners’ loyalty.

  Journal of Economic Literature (JEL) classification: M10, M14, M31, M39

• Examination of Management of TESCO Hungary's sustainability and community activities

  24-48

  Judit Tessényi

  Norbert Katona

  Views:

  162

  In their fifth sustainability management case study, the authors examine the focus, organizational processes, and operation of TESCO's responsibility and community activities in Hungary. On the one hand they executed analyses of publicly available company reports and internal documents, while on the other hand, they conducted semi-structured interviews with internal and external experts who play a key role in the added CSR activities. In addition to the descriptive presentation of the activities, the authors' work points out that there are many crutial organizational conditions for the effective management of organizational processes related to sustainability and communities, furthermore they highligted the possibilities and limitations of involving external parties and service providers, as well. The value of the case study is enhanced by the fact that no comprehensive case study presenting the sustainability activities of the leading domestic food retail companies has been published recently.

  Journal of Economic Literature (JEL) codes: A13, D6, F6, M14, M19, M38

• Talent management in education: the war for talent

  98-113

  Irma Racz

  Views:

  170

  The study analyses how J. Harsányi College became inoperable. J. Harsányi College is an organization that supports young talent at the Economics faculty of J. Selye University. The main object of the research is to help the relaunch of the organization and to raise the interest of the students in work and in the activity of the College. The research ask questions concerning studying, and how to improve the motivation and awareness of students. The author describes the theoretical background of talent management in the first part of the study, and then introduces her proposals on the basis of primary research.

  Journal of Economic Literature (JEL) classifications: A29, M12

• Citizens’ Interest Index: What can act as a benchmark for the results of the New Public Management reforms?

  117-131

  Miklos Rosta

  Views:

  129

  The aim of the study is to suggest an adequate indicator to describe comprehensively the efficiency of New Public Management (NPM) at a macro level by using the economic roots of NPM. The scientific community has not yet found a comprehensive indicator to measure the efficiency of the given school; however NPM is at the stage of its lifecycle when these researches really do need to be conducted. Both the political-theoretical and the economic roots of NPM are closely connected to public choice theory; this theory thus provides the bases of the model for creating the new indicator. In the article we do not only introduce the created composite index at an abstract level, but also present its formulation and methodological background.

  Journal of Economic Literature (JEL) classifications: H83, D70, D23

• Business Intelligence from a Strategic Perspective

  49-70

  Gyorgy Bogel

  Attila Papp

  Views:

  469

  Business Intelligence is one of the fastest growing sectors of corporate informatics today. The study describes the history of the related approaches, models and applications, starting from the beginning of the last century. The most important growth engines are highlighted and the strategic role of business intelligence is explained in detail. Both the supply and the demand side of the BI market are analysed and key developments and trends are explained. Special attention is paid to explaining and modelling the intensive acquisition activity of the recent past, and to the potential consequences of the growing need for integration. New market and technology trends changing the application landscape are analysed at the end.

  Journal of Economic Literature (JEL) classification: M10, M15, M40

• Just-in-Time system in terms of real options

  Andrea Rozsa

  Views:

  138

  The value creation process in a company and the competitive position are critically influenced by corporate resource allocation and proper valuation of investment alternatives. After the Second World War, capital budgeting and strategic planning emerged as two complementary but different systems for resource allocation. The real options approach developed in the ’80s may provide a useful tool for making a connection between capital budgeting and strategic management. Real options are implicit managerial and operating flexibilities embedded in many non-financial assets and liabilities. In a wider sense: “A real option is the investment in physical assets, human competence, and organisational capabilities that provide the opportunity to respond to future contingent events” (Kogut-Kulatilaka, 2001). This paper shows that Just-in-Time (JIT) system as management philosophy can be regarded as a knowledge-based or capability-based implicit strategy rather than a simple, easy-toimitate best practice approach. Moreover, implementation of JIT can be considered as a strategic investment. The presentation focuses on how the relation among strategic investments, developed technological systems and corporate strategy can be expressed through the real options view.

• 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

• Exit strategies of family businesses in Hungary

  43-63

  Ágnes Mosolygó-Kiss

  László Kucséber

  Áron Szennay

  Views:

  267

  The study aims to examine the ownership transmission strategies in the context of family firm succession in Hungary. The successful transfer of ownership, management and acquired experience at a family firm represents one of its greatest challenges; however, there is still a lack of understanding of the unique future strategies and succession outcomes of Hungarian family businesses. As a significant proportion of the founders of those family businesses established after the regime change (post-1989) are now reaching retirement age, a study of how such business organisations plan to survive the generational transition is highly relevant. This study applies a mixed methodology of quantitative and a qualitative analysis (e.g.,
  in the case of IPOs). The results show that the average age of the examined family firm CEOs is higher than the global average and the majority of them plans to keep ownership and management within the family. Other exit strategies (i.e. initial public offerings, mergers and acquisitions) are not typical of the examined sample.

• The Consistency of Charitable Behaviour and Its Fund Raising Implications

  71-86

  Eva Kuti

  Views:

  134

  This paper tries to take an initial step toward a deeper understanding of the differences and similarities between corporate, individual and 1% philanthropy. Though both corporate and individual giving have
  a huge international literature (e.g. Adam 2004; Archambault & Boumendi 1998; Burlingame 1997, 2001; Halfpenny 1999; Schervish & Haven, 1997; Wang & Graddy 2008; Zamagni,1995) and 1% philanthropy is also discussed by several, mainly Eastern European authors (e.g. Bódi 2001; Chano 2008; Gerencsér & Oprics 2007; Török & Moss 2004; Vajda & Kuti 2002), the connections between these different kinds of philanthropic activities have not yet been scrutinized. Correspondingly, very little attention has been paid to the issues of how third sector organizations could develop an efficient ‘fund raising mix’; how they should combine their efforts to solicit contributions from different kinds of donors. In order to answer these questions, the author takes an interdisciplinary approach; she uses several different types of analytical and statistical methods. The statistical analysis of the donors’ motivation is based on the results of three empirical surveys of individual giving, 1% philanthropy and corporate donations which were carried out in Hungary over the last couple of years. The third sector organizations’ fund raising behaviour is analyzed using both official statistical data (KSH 1998–2008) and information gathered through interviews (Laki & Szalai 2004; T. Puskás 2006) and case studies (Kotler & Lee 2007; Török 2005b).

  Journal of Economic Literature (JEL) code: D64, M14, L31

• Improved operation efficiency strengthens organizational quality in higher education

  Péter Levente Lakatos

  Views:

  2

  This paper examines quality assurance as an effective tool for organizational development, reviewing the theories and history of quality management. After describing the theoretical foundations used in the USA, focusing on heavy industries, it discusses European models such as TQM, ISO and EFQM systems in more detail, then moves on to critical approaches, especially with regard to the applicability and effectiveness of quality assurance in education and higher education. The second half of this paper focuses specifically on quality assurance in higher education, in particular European standards, approaching it from the perspective of internationalisation. In this context, this paper addresses the issues of brain drain, digital campus, stakeholder involvement and student-centredness. Finally, the paper concludes that quality assurance in higher education is not only an essential but a necessary process as well, which can also be the most effective tool for organizational development.

• Research of competence expectations in the labour market

  75-107

  Tunde Tothne Teglas

  Erika Hledik

  Views:

  851

  Company surveys and labor market prognoses point out that changes in the labor market significantly reshape the employers’ competence expectations
  towards employees. Experts predict an expansion and significant rearrangement of competence expectations. At the same time, employees may experience very different expectations during the application process. Certain employers have high expectations, while in other companies these new high expectations are not perceived. Based on the results of our qualitive research examining the competence requirements towards fresh graduates, we seek to find out how domestic companies react to change when formulating their requirements towards their employees. In the light of the forecasts, we examine which competences are the ones where employers think of new and expanding content. In our work, competences as dynamic variables are examined in the interaction between the demand side and the supply side, that is, the interaction between the employers’ competence needs necessary for their operation and their experience regarding the preparedness of the fresh graduates.

  Journal of Economic Literature (JEL) codes: J23, J24, J53

• HR Funtion Under Changes at Subsidiaries of Foreign Multinational Firms in Light of an Empirical Study in Hungary

  98-116

  Jozsef Poor

  Views:

  479

  Following almost two decades of multinational companies (MNCs) operating in the transitional economies of Central and Eastern Europe (CEE) expatriate and local managers continue to ask the following question: “How can we effectively manage the available human resources from our subsidiaries or assignees from the corporate centre?” A model of human resource (HR) practices in the subsidiary units of MNC’s in Hungary was developed from a review of the literature, extensive professional experience in the region and an interview-based survey at 42 subsidiaries of large multinational companies. This model describes the evolution of different HR variables in the light of external (macro) and internal (firm specific) factors.

  Journal of Economic Literature (JEL) classification: M16, M51, M52 és M54

• Economy of Austria

  125-148

  Kitti Vass

  Views:

  159

  In my article I examine a member state of the European Union, the open and federal Austria, which can be considered as an example of a corporate economy. During the reconstruction period following the Second World War the Austrian economy was characterized by a frantic economic expansion. After the oil crisis, an incomparably low inflation rate and low unemployment, and the more dynamic than average economic growth attracted attention to the country. Due to the intensified external economic interest, the Austrian model - namely the economic policy and establishment - was widely studied at this time. However, at the beginning of the 1980's some structural problems appearing in the economy contributed to slowdown in growth, until the political changes of the year 2000, which finally brought a new favourable turn in economic policy. I start with an examination of Austria's economic status after the Second World War, then the development, changes and role of the Austrian social partnership. I go on to analyze today's Austria from the point of view of the sustainable balanced budget, focusing on the financial circumstances of the state, such as the complex financial connections derived from federalism.

  Journal of Economic Literature (JEL): H62, H63

• Literature analysis of the language challenges and the responses thereto of European multinational companies

  101-119

  Edina Várnagy

  Views:

  159

  Language diversity is an inherent part of international business transactions,
  despite the dominance of English. The challenge for management, HRM, and
  employees in multinational companies is to find the right strategy. Multinational
  organizations can be categorized using the EPRG (ethnocentric, polycentric,
  regiocentric, geocentric) model, according to how they define their relationship
  with subsidiaries, and how they operate in foreign markets. Using this model,
  conclusions can also be drawn from their applied language strategy.

  JEL code: F23, Z13

   

• An analysis of services for general economic purposes and universal services in the European Union

  49-66

  Eva Sztanko

  Views:

  131

  A topic in the focus on debates on the European social model has been to define the future role of Services of General Economic Interest (SGEI). The European Commission launched a widespread public discussion on the public utility related objectives of SGEI, their impacts on the quality of life, on the environment and on the competitiveness of European firms, as well as on ways of organising and financing these services. This discussion has received an important input from rulings of the European Court of Justice and the Court of First Instance in cases on Services of General Economic Interest. Although these court rulings lacked consistency in some cases, they still helped to obtain more accurate definitions of SGEI. Most member countries of the EU have started to elaborate the concept of universal services, but there are still serious loopholes in the field of monitoring, control, quality management and in terms of financing. To sum up, the EU member country level practice of universal services in the energy sector is still in the first phase of realisation.

• Empirical analysis of the relationship between the attitudes of domestic researchers and their economic results

  20-38

  Laszlo Szigethy

  Views:

  137

  The study analyses the attitudes towards intellectual property management and innovation attitudes of researchers in Hungarian public research organizations and the different types of economic results they achieve in an empirical way by pointing out the close relationships among them. During the analysis, a form of researcher typology will be developed based on clusters which were formed by the attitudes of researchers. The principal components
  were created from the attitude variables and served as dimensions. The research is primarily aimed at testing two hypotheses. On the one hand, these researcher clusters have significantly different economic characteristics and on the other hand, the cluster which has the most favourable attitudes in terms of the economic exploitation of research results has the greatest economic performance. In the course of the research the results basically confirmed both hypotheses.

  Journal of Economic Literature (JEL) classifications: O32, O34, D01

• Examining the perception of innovative online banking services – a discrete choice experiment among university consumers

  64-91

  Vilmos Lakatos

  Péter Balogh

  Péter Czine

  Views:

  358

  In our study, we examine consumer preferences for innovative online banking services among students in business and management education. To achieve our research goal, we conducted a discrete choice experiment with the target group. The alternatives of our hypothetical decision situations included in our experiment were characterized by the possibility of ATM smartphone integration, the availability of real-time banking, the availability of NFC payment, and the cost per transaction. Based on our model estimates, we found that all three examined services (ATM smartphone integration, real-time banking, NFC payment) have a positive perception among respondents, while the increase in cost has a negative effect on the respondents’ sense of utility. The results of the latent class model estimated in order to address the preference heterogeneity highlighted the existence of a consumer group with very strong preferences and thus a high willingness to pay (average HUF 70) towards the existence of the NFC service. Male students with a non-Debrecen resident in higher-level vocational training are more likely to be included in this class.

• The role of sovereign wealth funds in the international financial system

  111-125

  Eniko Agnes Kovacs

  Views:

  176

  While sovereign wealth funds (SWFs) were formerly considered to be passive financial investors, today we can see their active presence in international capital markets. As their assets are continuously growing under their management, they are likely to have important impacts both on the financial services sector and international capital movements as well. The aim of this study is to give an overall view of the role of sovereign wealth funds assumed during the credit crisis, as well as of their possible impacts on the economic and financial system. The problem of transparency will also be discussed, namely the lack of it, which derives from the fact that most sovereign wealth funds do not disclose any information about their activities, operations, and investments. Moreover, this study provides an insight into policy responses made on the international level concerning SWFs.

  JEL classification: E58, F21, F30, G15

• Implementing Risk Adjusted Capitation Payments with Health Care Reforms in Hung

  147-160

  Balazs Nagy

  Agnes Brandtmüller

  Views:

  194

  Since the late nineties Hungarian governments have been considering the introduction of new health care arrangements by establishing organizations with devolved responsibilities for the management of health care. These organizations are typically financed through a weighted (risk adjusted) capitation system which is regarded as an adequate and optimal tool for resource allocation purposes. Through capitation one needs to handle large inequities in the Hungarian health care system and keep an eye on the incentives for efficiency. For the capitation formula a relatively broad choice of risk adjusters are available in the form of pharmacy- and diagnosis-based patient level utilization data (health-based adjusters) and area level socio-economic data (non health-based adjusters). The instant application of health-based adjusters has limitations because they reflect a distorted provider structure and offer perverse incentives; therefore a gradual shift from using non health-based adjusters to health-based adjusters is preferred. The early phase of the capitation system also implies a strong presence of risk sharing arrangements and other complementary policies. Given that promoting efficiency and equity are to be pursued, the capitation approach outlined in this paper should serve as a guide to future Hungarian health care system reforms.

  Journal of Economic Literature (JEL) code: I28, G28, G32, H51

• Parallel Organizational and Technology Innovation: Designing Organizations following SOA Principles

  5-19

  György Bögel

  Peter Krauth

  Views:

  204

  Technology development in general and trends and developments in infocommunication technologies in particular have a direct effect on corporate organizational processes. In information system design, Service Oriented Architecture (SOA) provides a set of principles and methodologies for designing software in the form of interoperable services with defined business functionalities. These loosely coupled components can be reused for different purposes, and can be combined with services bought from outside partners and other service providers. The goal of this study is to describe how SOA principles and
  methods can be used for designing business organizations, i.e. socio-technical systems with human and machine components. Part one is a general overview of SOA as it is used in IT, part two explains how IT systems converge with corporate organizations, and part three presents a model for an organization designed and managed following SOA principles. The research project behind this article was initiated by the Hungarian Post.

  Journal of Economic Literature (JEL) classifications: L14, L22, L86, M15