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Practical experiences of business performance measurement in Hungarian e-commerce
58-75Views:155In E-commerce is gaining ground all over the world, and its role in the global economy is growing. However, it is important to note that the current inflationary environment puts e-commerce at a disadvantage compared to traditional sales. Rising prices for food and everyday goods have been reflected in consumers' shopping baskets, while e-commerce has seen increased demand for cheaper substitute products. This has reduced basket value and made it difficult to meet performance targets. As traditional stores have grown in importance, e-commerce's share of total trade has fallen from a record high of 10.4% in 2021 to 9.6% in 2022. It is forecast that, within ten years, 30% of retail sales will be made online. These changing shopping habits will present challenges for business leaders. The research aims to determine the extent to which e-commerce businesses in Hungary are influenced by performance measurement tools and systems, how these tools and systems are used, how they improve performance, and their impact on the achievement of corporate performance objectives. It is particularly important to examine which areas can be improved and which pose barriers or risks to achieving targets. In order to make key decisions, business leaders require information on the most impactful factors and those that will help them to achieve their goals. To achieve this, it is necessary to assess companies' current performance improvement and measurement practices and the results achieved, as well as identifying the interrelationships between the different factors. This research was conducted through a questionnaire survey of e-commerce businesses. Based on the responses, the factors that contribute most to effective management were investigated, highlighting the performance improvement and measurement tools on which these businesses should focus.
The questionnaire-based survey comprised a total of 24 items, organized into two main sections. The first section focused on collecting general background information, while the second section aimed to assess practices related to performance measurement and evaluation. This latter section included questions concerning performance objectives, performance-inhibiting and risk factors, the tools and methods used for performance measurement, operational, financial, and market-based performance outcomes, as well as the evaluation of measured performance.
A total of 224 valid responses were collected. During the data analysis, principal component analysis (PCA) was employed to reduce the dimensionality of the variable groups. Closely related variables were grouped into single components based on their intercorrelations. Subsequently, a dependent variable was defined, and the Backward elimination method was applied to identify those principal components that best explained the variance in the dependent variable. Cluster analysis was conducted to form distinct groups, and the financial, asset-related, and income-related indicators of the resulting clusters were examined. These clusters were later utilized in hypothesis testing. Improved profitability, increasing returns, and enhanced financial performance were observed in Cluster 2. For enterprises within this cluster, the introduction of new products, the establishment of long-term growth objectives, and the monitoring of website visits and customer complaints were considered particularly important. These findings suggest that such factors should be given special consideration by enterprises operating in online marketplaces.
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Examining the effectiveness of online marketing tools among anglers
68-82Views:620The use of online marketing tools has now become essential for businesses operating in the commercial sector. In order for businesses to increase their sales volume and brand value of their company, they need a continuous online presence while keeping up with current trends. High-quality, unique content captures the attention of consumers, who later become regular followers of the business not only online, but their personal presence can also be strengthened in physical stores. Using questionnaire research, I assessed the effectiveness of online marketing tools among anglers.
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EXPLORING THE VIABILITY OF SERVICE ROBOTS IN PERFORMING HUMAN AESTHETIC LABOUR IN THE HOSPITALITY INDUSTRY
60-68Views:378This literature review seeks to investigate the value of human aesthetic labour in light of the growing deployment of robotic service workers. As automation continues to advance and replace human workers in a variety of industries, including service industries such as retail, hospitality, and entertainment, the role, value and the significance of aesthetics and the human touch grows. Due to the contemporary nature of the topic, researchers combed databases like Scopus, Web of Science, and Google Scholar for relevant articles using terms like "human aesthetic labour," "robotic service workers," and "service industry." This review will investigate the extent to which the rise of robotic service workers has altered the perception and value of human aesthetic labour. The findings of this research review will contribute to the ongoing discussion on the future of work in the service industry and provide businesses with insights on the significance of preserving human aesthetic labour and its impact on customer and guest experience as well as business performance.
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Controlling characteristics of SMEs in the Észak-alföldi Region
259-263Views:308Since the regime change in Hungary, the main federal task has been to strengthen the small and medium-sized ventures. The size of the category plays an important role in the employment as well as in the GDP production. Those areas that make businesses strong and reduce the risk of their activities are in the center of attention in this hardly predictable economic era. One of those areas is the views and methods of controlling which is still hardly adoptable to most of the CEOs in businesses. The introduction and the use of these operations give concrete results within a relatively short period of time, making the decision makers’ job easier at the companies. The study includes the examined SMEs, the design of business characteristics, the valuation of suppliers and customers, the production and the prime costs of the service. The vision of SMEs that characterizes the application of the tools and methods of controlling are also included.
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Environmental Factors Aff ecti ng the Competi ti veness of Enterprises – Changes in Taxati on in the last 5 years.
16-23Views:108A number of factors aff ect the competi ti veness of businesses; fi scal policy is one of them. It has constantly been changing in Hungary recently. However, enterprises would need a more predictable business environment. The aim of this brief study is to point out its importance.
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EXAMINATION OF THE FACTORS AFFECTING THE TAX BURDEN ON ECONOMIC COMPANIES
1-7Views:449Taxing a wide range of businesses is a signify major challenge in nowadays economic, social life. The topicality of the study is indicated by the fact that the Hungarian tax system has been transformed in recent years. We analyze by respect to tax benefits the extent of the tax burden at companies in the course of the research. The enterprise sector data are examined from three sides whereby we search for statistically verifiable relationships between the pre-tax profit, the tax benefits used and the tax payable. We investigate what regional and settlement differences can be located in the tax burden of businesses. Tax revenue appears to be highly concentrated by territorial distribution. The question arises to what extent the development of the region influences the proportion of the tax benefits used. In our results, there is a significant difference experienced in the corporate tax burden on enterprises of settlement.
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Financial Planning in Diff erent Household Life Cycles
5-15Views:172Households are characterised by diff erent life cycles with diff erent income structures and expenses. They have to be considered and planned in ti me, so that their fi nancial background can be ensured. Regarding effi ciency households are able to make their opti mal choices from diff erent alternati ves on the basis of their own system of objecti ves. In many cases households are unable to make these eff ecti ve decisions, which is usually due to the low level of their fi nancial culture. There are certain points in people’s lives when it is useful to have a large amount of savings. One of these points is the old age when people cannot earn a suffi cient amount of money. The other one takes place when someone starts his or her career or a family and when they make a living so as to be able to support themselves. One alternati ve of household life cycles is to set up their own business and operate it. Even during the operati on of interprises we can diff erenti ate several life cycles. Households taking up enterprises are usually able to plan the necessary fi nancial background to launch their businesses and to prepare business plans for a profi table operati on as well as adjust them to changes, which is not an easy task. In our research we write about savings and we describe their roles in given life cycles. This writi ng includes some important elements of our research.
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Financing SMEs – Prospects in Hungary
74-90Views:1299After joining the EU, micro-, small- and medium-sized enterprises came to the focus of attention in Hungary for their grandiose role in both employment and producing added value. Due to their flexibility, creativity and adaptability SMEs find new market opportunities easier. Also, SMEs can find their way and seize appearing opportunities more quickly under rapidly changing, insecure and high-risk circumstances.When analysing the sector, besides the investigation of the external environment, it is also important to focus on internal factors. The success of businesses is not only influenced by their access to financial resources, but also by their internal organisational structure and the standard of their organisational culture. In the present phase of world economy, when
transports are delayed, credits are harder to obtain and companies downsize, leaders have to make careful and considerate management and operational decisions. Thus financial decisions have considerable short and long-term effects on the success of business operation.This research paper aims at a comprehensive study of the present situation of the Hungarian SME sector, some of its financing opportunities, as well as factors that hinder its development. Another purpose of the present writing is to lay the theoretical foundations for a primary questionnaire research exploring the financing characteristics of SMEs in Hungary. -
Exploring Digital Maturity Perception vs. Reality in Hungarian SMEs
1-12Views:401The research aimed to explore how the digitalization development of micro, small, and medium-sized enterprises (SMEs) in Hungary relates to their perceived digital readiness, and what role the size of the enterprise plays in this relationship. During the data collection, structured questionnaire data were collected from 207 enterprises, which were analyzed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) method. The reliability of the measurement model was adequate (Cronbach alpha: 0.728–0.915; AVE: 0.579–0.792), and the discriminatory validity was verified by several procedures (e.g., HTMT values: 0.425–0.641). According to the results of the structural model, actual digitalisation had a negative, significant relationship with perceived digital readiness (β = -0.444; p < 0.001) and perceived adaptability (β = -0.501; p < 0.001). The size of the enterprise also had a significant impact on the perception of adaptability (β = 0.363; p < 0.001) and also played an intermediary role in the model. The results suggest that more advanced businesses are more critical of their situation, while smaller companies tend to overestimate their digital capabilities. The research contributes to a deeper understanding of the distortions of digitalization self-assessment and the foundation of targeted development interventions.
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The Development of Logistics Service Centres through the Use of Results in Network researches
35-39Views:217Logistics centres of a huge capacity and ability to create added value have emerged in recent decades. These centres have become network nodes among the co-operating organizations which accomplish the management of supply chains by connecting different modalities and networks with their infrastructure and informatics. The effective operation of logistics centres present in business networks are usually managed by logistics supplier businesses (3PL/4PL). Defining the supply net as a complex network, logistics centres may be called hubs, the routes and relationships connecting the centres – by borrowing the term used in network theory – may be called edges. Taking into consideration the results of Barabási’s network research we are searching for correlations between his proven principles and the growth possibilities of the centres (hubs) operated by logistics service providers.
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COVID-19 AND CORPORATE SOCIAL RESPONSIBILITY: EVIDENCE FROM NIGERIAN MICRO, SMALL AND MEDIUM ENTERPRISE (MSMEs)
Views:209The devastating impact of COVID-19 extends beyond health concerns; the coronavirus outbreak has rapidly transformed into an environmental, social and economic emergency. The global pandemic has prompted businesses to adopt innovative business models and re-strategize corporate social responsibility (CSR) in order to cope with the global challenges triggered by COVID-19. Micro, small, and medium-sized enterprises (MSMEs) are hit the hardest as they lack adequate resources to strive in these difficult times. This paper is a review article that uses secondary data to analysis COVID-19 pandemic and the CSR of MSMEs' in Nigeria. The study concludes that COVID-19 has a significant effect on MSMEs' CSR. Therefore, the study recommends that CSR projects should be compatible with government policies and plans to have a wider and even more sustainable effect. CSR engagement would be more fruitful if MSMEs embrace collective corporate social responsibility.
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The relation between fish consumption and catering
246-249Views:278Fish consumption is a highly important area in the field of healthy nutrition. It is well known that besides the culinary delights, fish has a very significant physiological effect, which could increase the average lifetime and could help to improve the life quality during a longer life. Therefore it would be essential for the catering industry to improve their role within this field. They should reshape the eating habits of the ones, who are usually dining outside their homes unperceived, by using fish specialties, combining different cooking and preparation methods and possibilities. However, the observation illustrates that guests are only aware of a limited utilization of this ingredient and unfortunately in catering businesses there are only a few experimenting chefs, who replace traditional flavors with fish specialties.
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The impact of increasing environmental expectations and forced paperless administration on corporate sustainability
25-33Views:328Current environmental legislation, directives, and expectations of the stakeholders put increasing pressure on companies' sustainability efforts. Such efforts include applying life cycle analysis methods, resource-saving technologies, low-emission practices, and voluntary ecological rules. Digitization facilitates these efforts, and the forced situation created by the COVID-19 pandemic accelerated the digital transformation process even more. Many companies were pressured to find solutions that legally and effectively bypass personal presence. Paper-based administration was restrained, giving hope for the broader spread of entirely paperless businesses. The study aims to present Hungarian companies' incentives for environmental protection and emphasize how paper-free offices are an essential milestone in sustainable development.
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The Features of the Development of Rural Tourism in Russia
88-91Views:246Rural tourism in Russia is determined by established traditions, the peculiarities of the agricultural sector and share of rural population in total population.
The National Association of rural tourism organizations has been created in Russia. Rural tourism clusters have also been created as a basis for developing infrastructure. The government supports the projects of small and medium-sized businesses with subsidies and preferential loans with the creation of a tourism cluster. However, the problem of information security, the standardization of the service and the evaluation of service quality in rural tourism, transport accessibility, training of qualified personnel have not been solved yet. -
DOES THE NOTES TO THE FINANCIAL STATEMENT HELP IN MAKING DECISIONS?
Views:407Available information influences decisions; improperly selected, incomplete, distorted information might provide a misleading picture and lead to bad decisions. Businesses can obtain decision support information about their external market actors primarily through data obtained from their annual statement. Consequently, the notes to the financial statement, which is intended to ensure the sound and real financial and profitability position of the enterprise, is one of the main sources of information. The research goal was to assess the extent to which business managers and economic professionals are supported by information from the notes of their partner companies.
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The economic impact of intellectual property in Europe and Hungary
83-89Views:289As the aim of the article, to show in the framework of theoretical research, to assess the situation of Hungarian intellectual property in the life of businesses. In our paper, we try to analyze and present this area approaching it from an economic side, which seems to be a mere legal phenomenon for an outside observer.
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The impact of digital transformation on the business model
69-79Views:448The aim of this study is to examine the characteristics of the digital economy and digital business models, summarising and contextualising the milestones, tools, conditions, socio-economic impacts and areas of the emergence and development of the digital economy. Due to the interdisciplinary nature of the digital economy and its wide range of interpretations, there are no universally accepted, precise definitions and taxonomies, and the subject is delimited by a number of definitions, due to the specificities of the discipline and the approaches taken by studies in particular sub-disciplines. The digital economy is the main driver of economic growth, changing lifestyles, transforming the economy and leading to profound consequences for businesses, jobs and people. The first wave of the emergence of the digital economy can be detected in the second half of the 20th century, when it was driven primarily by the new technology itself, mainly the internet, as a widely affordable and accessible factor driving exponential growth. The future digital economy could be based on a combination of IoT (Internet of Things) and AI (Artificial Intelligence). In a general sense, the digital transformation brought about by the digital economy can be defined as the modification or adaptation of existing business models, as a result of the dramatic transformation in consumer and societal behaviour, attitudes and ways of being, as well as the dynamic pace of technological development, modernisation and innovation. Other areas of the digital economy are new digital models (digital platforms, cloud services), automation, massive data collection, data processing, data analytics, algorithm-based decision making.
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The Development of Business in Various Regions with the Use of Marketing Tools
63-70Views:225In present day Slovakia, a huge emphasis is put on the development of business in individual regions, by which employment and economic expansion is guaranteed. One of the methods how businessmen from stagnant regions can improve their economics is marketing and the appropriate use of marketing tools. In the given paper we present possibilities for development and improvement businesses in less developed regions by the means of marketing activities. The research was realised in chosen enterprises from the field of gastronomy and it concentrated on the use of marketing tools. In the end we propose the results of the research, suggestions and references out of which we consider the effective use of marketing tools to be the most important, especially marketing communication and also information-communication technologies that should be used more by managers.
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EXPLORING NON-VALUE-CREATING PROCESSES USING THE VSM METHOD THROUGH A CASE STUDY OF A SMALL ENTERPRISE’S MANUFACTURING SYSTEM.
Views:264One of the major problems in Hungary is the low level of productivity. This low level is particularly noticeable among small and medium-sized enterprises. In most regional and Western European countries, the average productivity level of enterprises of this size is higher than in Hungary. The current and expected shortage of labor in the near future poses a challenge to businesses. Creating wage growth that contributes to retaining the workforce can only be achieved in the long run by increasing productivity. If an organization is unable to achieve productivity gains, it will fall short of both domestic and international-global competition. The application of modern management and management systems, such as lean management, can be a key element in increasing the productivity and competitiveness of Hungarian small and medium-sized enterprises. Lean management is one of the most common and effective process organization methods and paradigms used in the secondary and tertiary sectors, so much so that the use of lean-based management methods has in many cases become a competitive criterion and fundamental.
In our research, we prepare the value process mapping of a CNC metal cutting SME, including the value process of CNC milling and turning processes. This value process mapping method offers an opportunity to make losses in the industry become known and preventable. Through the preparation of the map, it is possible to illustrate the processes that produce mud and thus reduce the lead time and increase productivity. In the course of our study, we present the practical implementation of the method through the example of a company manufacturing metal parts machined with CNC technology.
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Analysis and comparison of the asset situtation of the hungarian poultry and pork sector between 2005 and 2015
67-75Views:332Meat has been playing an important role in the nutrition of humanity from the beginning of time; therefore meat is a fundamental foodstuff. Global population is steadily increasing and people consume more and more foodstuff with high added value including meat and dairy products. In context of meat production and consumption, poultry and pork sector are the major predominant sub-sectors not only nationally, but also internationally. Pork sector had a definite leading role until the end of 1990s. However, this trend has undergone changes and poultry sector is predicted to have this leading role, according to current trends. The aim of our research is to reveal and analize what impacts this structural change have on businesses in these sectors including their asset situations.
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SLR ABOUT THE COSTS OF PRIVATE BLOCKCHAIN TECHNOLOGY FOR BUSINESSES
22-33Views:274Since the appearance of Bitcoin (2009), blockchain technology has been used in many fields. Companies use it for financial services, goods tracking, data authentication and secure storage, among other things, in order to make their operations more transparent and efficient. This technology has revolutionized the data management and transaction processing, but the associated costs are also significant and relevant to understand. The costs of blockchains vary and depend on the type of blockchain and how it is used. In this article, we examine the costs of using blockchain technology based on international literature, studies and reports with systematic literature review. In the results the range of possibilities offered by technology is presented, as well as the technology related cost types, and expenditures what companies have to deal with.
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The Eff ects of Crisis on Transport
38-49Views:161The global economic crisis, which started in 2008, has negati vely aff ected all sectors of the economy. Many businesses have gone bankrupt, including old, leading and successful companies but others have remained successful and have acquired a larger market share. Despite this many business owners have tried to enter the market with more or less success. This trend can also be observed in the fi eld of logisti cs and transportati on.
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THE CASH FLOW STATEMENT - AN INDISPENSABLE SOURCE OF INFORMATION FOR INVESTMENT DECISIONS
24-33Views:709It has been more than three decades since the first businesses were created in Hungary. Act C of 2000 on Accounting regulates the field of financial accounting. Accounts of enterprises are public, so market participants are provided objective information on their economic, financial, and income situation. Accounting is an internal information system on the one hand and an information system towards the external environment on the other. This duality is primarily the cause of critical comments. For years, there has been controversy over whether the administrative burdens and account-ing rules imposed on enterprises can be too demanding? Parallel to this, there is an open question. What essential information should be published in the accounts, which helps to make grounded decisions for the stakeholders?
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Reorganization of human resources in the tourism industry from the perspective of recent years, in relation to Transylvania
14-21Views:268Nowadays, employment in various economic fields and the possession of appropriate professional knowledge are of considerable importance, especially in the services sector, where properly qualified personnel is a key factor in terms of the development of satisfaction in the demand segment. As an apropos of this, the human resource reorganizations taking place in the Transylvanian region and the willingness to work form the subject of the research, focusing on the tourism industry, which was a difficulty for businesses providing various services during the period of the Covid-19 epidemic that spread in 2020. In a significant part of the international studies related to the topic, the difficulties arising because of the change in the attitude of the tourist human resources are mentioned, which can lead to a disadvantageous situation in the long term of the operation of tourist facilities. As a result, the sixteen Romanian counties that make up the Transylvania region became the target of the investigation. Projected on the mentioned counties, relevant data from the Romanian National Statistical Institute (INSSE) were first used, examining the time interval between 2010 and 2022, both yearly and monthly. According to the data used, it is important to focus on the investigation of tourist traffic, as well as on the number of people employed in the sector and its change, as well as on the wages received for doing their work and the associated benefits, which can serve as a motivational factor in addition to valuing employees. An examination of the data related to the topic shows that the 2008 global crisis had a more drastic impact on employment in Romania than the Covid-19 pandemic that spread in 2020, the effects of which can still be felt today.
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PROJECT CONTROLLING in the service of grants
1-12Views:181Since our country’s accession to the European Union, we refer to project implementation when a (business) development activity is carried out using European Union funds and financial support. For the 2021–2027 period, Hungary has access to a cohesion fund budget of more than EUR 26,135.7 million, including national co-financing. The total amount of funding available to beneficiaries is approximately HUF 10,000 billion. However, for these available resources to truly contribute to Hungary’s economic and social development, numerous grant projects must be initiated and successfully implemented. The aim of this study is, on the one hand, to present the process, tools, and significance of project controlling through a case study—the implementation of the Supporting Youth Entrepreneurship in the Northern Great Plain Region project—highlighting the essential components of project success. On the other hand, it seeks to emphasize the role of project controlling in ensuring the efficient utilization of significant financial resources.