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The Success and Motivation of Academic Entrepreneurs in Hungary
75-87Views:481This paper presents the results of an empirical study of 80 academic entrepreneurs in Hungary. It aims at analysing the relationship between the motivations for starting a firm and entrepreneurial success. The motivations studied are the prospects of higher income, the need for achievement, the need for independence and the benefits related to research. Success is examined from both objective and subjective perspectives. The indicators of objective success are the firm’s revenue, the change in the revenue, the number of employees and firm age. Subjective success refers to the academic entrepreneur’s self-evaluation. According to the findings, the strongest motivation for starting a spin-off firm is financial necessity, i.e. a dissatisfaction with the university salary. Except for financial need, all the motivations included in the study have a significant relationship with subjective success, but a weaker or no relationship with objective success. Research-related benefits, such as moving the research towards development, is a key entrepreneurial motive in the academic sector, as it is positively associated with subjective success, the revenue of the spin-off venture and its growth.
Journal of Economic Literature (JEL) Classifications: L26, I23, O32
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Role of the organizational factors in the success of Hungarian SMEs
108-125Views:686This 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
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Analysis of Fiscal Policy in the Countries of the PaCifiCa
109-126Views:117Volatility has been a main factor in Latin America for decades, but these countries have managed to eliminate it more or less successfully by a series of reforms over the last few decades. Regional integrations have emerged in response to the challenges of globalisation. The most recently created integration is the PaCifiCa, and it is worth analyzing the current fiscal situation of its member states, which largely determines the success of future cooperation. Although the four countries observed managed to survive the 2007-2009 crisis with stable fundamentals, the downturn drew attention to the differences between these countries: while Chile and Peru are able to react easily to cyclical swings by applying countercyclical policy, the economies of Colombia and Mexico are much more vulnerable. The assessment of the welfare systems shows that although Chile has an extensive welfare system, the countries in the region still significantly lag behind the traditional concept of welfare state.
Journal of Economic Literature (JEL) code: H50, H60
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Attention in the world of information goods - an analysis of scarcity
1-20Views:142Attention as a form of service can also act as a source for the crearion of value. In its functional and market interconnections, attention is product of labour (product or service) and, as an exchangeable good, is naturally exchanged for money. The system of sxchange provides a significant amount of accurate information about the division of attention within society - the degree to which it reflects recognition by the individual and the community. The forum of exchange of attention can be viewed as the openness of society, while the internet is its international market place. However attention also played an important role in the 'old economy'; indeed in some cases attention was the central tool in its creation. Direct, personal services aimed at human beings (teaching, legal and health services) always demanded great attention. If nowadays a product itself is the main part of the service provided, attention becomes an important and decisive resource in the use of a product. The growing individualisation in the provision of goods and services, the increasingly direct interaction between people, and last, but not least, the transformation to a virtual level, necessarily increases the demand for attention in economic transactions- Unlike traditional goods, the outstanding feature of services, and more specifically intellectual goods, is the ability of consumers to devote sufficient time and attention to their use and to acquiring the necessary competence to use them. For the providers of these goods the ability to hold the attention of consumers/clients is often the crucial feature of competitive success. Praise, excellence and prestige are all manifestations of acquired attention. In this sense attention acts as a store of value, although it cannot be dircetly and easily compared with acquisition mechanism associated with money and other products. The economy of attention raises questions rather than offering defensible theses or clear statements. Even less does it allow us to claim that a theory could be crystallised in this field to explain how the expanding phenomenon of the non-material sector of the economy function in the economy as a whole. There is no doubt however that attention is a supremely important subject of research in the new economy.
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Competitive adavntages: Theory and corporate practice
51-70Views:140The 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
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Research of competence expectations in the labour market
75-107Views:753Company 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
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Individual Values for Organizational Success
37-51Views:110Douglas McGregor published Theory Y in 1960. The main element of this theory is integration of individual and organizational objectives. Today, near 50 years later, the integration of individual and organizational goals remians only theory in several business organizations. The author of this study conducted an online survey in 2008 in order to examine company cultures, values was harmonization between organizational-level and individual-level sets of values. Two multinational companies with 324 respondents took part in the research up to this time. This publication shows the findings of the survey and illustrates the importance of harmonization between organizational-level and individual-level values. Finally, it comes up with some ideas what leaders can do in order to harmonize the value hierarchies efficiently in their organizations.
JEL classification: D21, L21, L25
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Chance for a more liveable Hungary
5-18Views:100This study examines the question of how successful the transition of Hungary in social fields has been over the last two decades. It comes to the conclusion that, besides the successes in the economy and the deficits in the social spheres, the reserves of the first one and a half decades are approaching exhaustion. The accession to the EU creates a chance, but not a guarantee, for the next period to be a success. The challenges for the country are very different in 2007 from what they were in 1995. For this reason we try to show directions for sustainable growth and more fruitful social politics.
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Trends and Tendencies in the Development of HR Departments in Hungarian State Universities
115-146Views:274In 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