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The Role of Foreign Capital in the Competitiveness of the Hungarian Economy
71-77Views:101Capital is needed for development, the catch-up with the developed countries, creating and boosting competitiveness, which may come from internal and external sources. Our internal resources have always been limited and still are, so we have to resort to external resources, too. The external source can be a foreign credit, a grant, an aid, and foreign direct investment. Foreign capital has been and still is indispensible in the various stages of our economic development.
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Adaptation of automated control technologies in SMEs
80-89Views:106The spread of automated controlling technologies significantly impacts the operations of small and medium-sized enterprises (SMEs), especially in financial management. These technologies enable companies to manage their finances more efficiently, reduce costs, and enhance competitiveness. The benefits of automation include increased accuracy, reduced manual labor, and faster data processing, which allow managers to make more informed decisions. Through digital transformation, SMEs can access the latest technologies, such as artificial intelligence, cloud solutions, and big data analytics, further boosting the effectiveness of controlling systems. In the future, it will be crucial for SMEs to integrate new technologies like blockchain, IoT, and AI to sustainably improve their performance and competitiveness.
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The significane of environmental taxes used for mitigating the environment harmful impacts of road transportation
47-53Views:245Logistics is one of the most important economic sectors of the European Union, with nearly 1.134 million companies engaged in the field of transportation in the EU. The global logistics market is expected to show further expansion in the forthcoming years. On the other side stands global warning which is one of the greatest problems for the time being. The European Commission has announced a cross-sectoral investment programme worth more than 10 billion euros (nearly 3,200 billion Hungarian forints) for the planning, development and implementation of low carbon dioxide-emitting technologies to improve Europe’s global competitiveness. The common data base of OECD and the European Environment Agency (EEA) currently lists 375 environmental taxes and approximately 250 environmental fees or charges in the OECD countries. Among the EU member states, Sweden, for example, introduced a tax system which includes the essential elements of eco-tax more than 10 years ago. Hungary has several of such tax types, such as the excise tax on fuel, the energy tax, the energy suppliers’ income tax or the vehicle tax.
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The Economy Contexts of the Modern Growing of Corn
254-259Views:203The cereals are the most important and most determining cultivated plants of the world and our homeland. Their importance manifests itself in the fact that corns in the ear and corn occupy collectively 50%- of the world's tillage areas and 66-68% of the tillage areas of our homeland. The competitiveness of the cultivation to a great extent depends on the modernity of the production, which is especially valid for our homeland. So I intended to analyse the economic situation of one of the most important cereals, the corn through the activity of a family economy working well. I examine the modern corn growing technology in my work. I present the operations belonging to the technology applied by the economy and I outline the operation norms. I calculate the expenses arising in the interest of corn growing, I define the material costs incurred, the personal expenses, the amortisation and other expenses. I calculate the income from the sales of corn growing with and without support and I also calculate the main capital efficiency indicators.
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The entrepreneurial willingness and motivations of university students
90-102Views:208In recent decades, the concepts of creativity, innovation and entrepreneurship have become key players in modern economic development and have received increasing attention both in the European Union and in our country. At present, the SME sector accounts for more than half of the workforce, which is why it is important to monitor their development and performance, as they have a significant impact on the performance of the domestic economy, and thus entrepreneurship and the promotion of entrepreneurial activities are a priority economic policy issue, and can contribute significantly to economic growth, job creation and the competitiveness of the country. As a result of our research on entrepreneurship and its determinants, it can be concluded that entrepreneurship depends on a number of factors, including personal characteristics, attitudes, motivations, educational and cultural background, economic and legal environment, market opportunities and challenges. The results show that more than 90 percent of university students have a positive attitude towards entrepreneurship and nearly 10 percent of them already have a business during their university years. Among the personal motivational factors, the most common responses from those surveyed were financial security, self-fulfilment and social recognition and challenge. This suggests that university students perceive self-employment as more stable than employment. The high influencing factors of self-fulfilment and challenge factors clearly show that university students are not self-employed by necessity, but would start a business for a good business opportunity, to achieve their own plans and goals. The most negatively influencing factors for starting a business according to respondents are financial risk, lack of start-up capital and lack of information, all of which could be addressed by government grants and start-up tenders and other funding opportunities. Despite the fact that the vast majority of students are open to starting a business, very few are aware of the public grants and other funding opportunities available to support entrepreneurship. When asked whether they would like to receive information on starting a business or developing a business idea in the future, nearly 90% of students would like to receive information in the context of compulsory university courses, optional courses and dedicated events.
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The importance and challenges of developing financial awareness
44-52Views:741A financially conscious population promotes a country's competitiveness and makes its economic stability more secure. There is a need to promote financial awareness and education among secondary school students, young adults and older age groups. Our synthesis research is based on secondary data collection. This article describes the importance of financial awareness and the domestic initiatives and challenges to improve it, with a particular focus on human resource factors. It can be concluded that there are a number of initiatives in Hungary aimed at providing students with the financial and economic basics they will need in the future, starting from school. Some training is available for teachers involved in education, but there can be a serious problem with the low number of teachers.
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The health resort sphere in Russia and evaluation of its potential for development
160-163Views:152The article deals with the historical aspects of the sanatorium-resort complex formai on in Russia and it presents the assess of its current state; the main sources of funding of sanatorium- resort treatment for Russian citizens are described; tendencies of development of the market of SPA-services were shown; it includes informai on about the ways how to improve the services compei i veness; methods of the evaluai ng for poteni al of development in sanatorium-and-SPA services sphere are presented.
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Issues of social regeneration in hungarian small villages
53-67Views:166The problem depopulated settlements, which can be traced back to a lack of social reproduction, is not only a Central European phenomenon. Trends in the value and extent of consumer society are driving developing and developed societies, one of the indirect results of which is the aging population of villages and the depletion of endogenous resources in the affected settlements. With this, these settlements lose their most important competitiveness potential, their population retention power. In many cases, the economic vacuum found in small-village areas and the declining population further strengthen the process, which has a restrictive effect on the range of public service tasks, thus further worsening the opportunities of those living in the area. The study examines the economic and social potential of small villages using descriptive and complex statistical methods.
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Precision Farming as an Ecological Approach to Production?
19-25Views:191Ecology is ot en suppressed compared to produci vity, which makes us believe that economy is more important than ecology. With the growth of social need for traceability, food safety and food security, the trend is to turn away from conveni onal technologies. The ecological approaches all must cope with signifi cant loss of yield, which hinders their wide applicai on. Precision farming can be an opi on for the management to keep the high yield levels and decrease inputs at the same i me. The authors analyse, according to primary and secondary sources, precision farming compared to conveni onal and ecological farming to see the advantages and drawbacks of the diff erent technologies.
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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:201One 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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Is loyalty measurable? The importance and effective assessment of customer satisfaction
45-57Views:39Customer satisfaction is one of the key factors of corporate competitiveness and long-term business success in the 21st century. The rapid advancement of digitalization and the increasing expectations of consumers further emphasize the need to measure and improve satisfaction. The aim of this research is to examine which factors influence customer satisfaction in the case of a specific company, and how discrepancies between service quality and customer expectations can be identified. The study focuses on the gap between perceived service quality and customer perception, for which the GAP model and the SERVQUAL scale provided the theoretical and methodological framework. The research is based on both secondary and primary data collection; the primary research was conducted using a questionnaire, measuring customer perceptions across five key dimensions: reliability, responsiveness, assurance, empathy, and tangible elements. The results indicate that the company has a fundamentally strong customer satisfaction base, particularly in terms of employee expertise and the quality of communication. However, areas for improvement were identified regarding the accuracy of information provision and customer communication, which are also relevant from the perspective of service gaps. The study highlights that properly applied measurement models not only enable the assessment of satisfaction levels but also serve as effective tools for the targeted improvement of service quality.
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FACTORS AFFECTING THE STRATEGY FORMULATION PROCESS OF COMPANIES ECONOMIC GROWTH SOCIAL DEVELOPMENT SUSTAINABILITY AND COMPETITIVENESS
39-48Views:524The study has thoroughly presented the classic and new trends of economic gr owth, and on this basis, it can be stated that this is a complex system, and its analysis is almost always relevant, mostly because of the rapidly changing global systems and networks of contacts. The economic growth is extremely important in the 21st cent ury as well, but with a new approach. Two very important factors appear: sustainability and social development. Albeit the economic growth and
the social development are in the opposite directions, not serving the basic idea of sustainable development at all. In this study, we aimed at portraying the complexity of this system and the range of factors influencing it. -
Financing SMEs – Prospects in Hungary
74-90Views:1124After 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. -
Modern communication strategies and business relationship development in higher education: experiences of corporate partners of the University of Debrecen
24-32Views:30The quality of communication channels in the B2B sector plays a fundamental role in determining the success of collaborations. With the rapid advancement of digitalization, it has become inevitable for higher education institutions to rethink and modernize their communication practices with business partners. The aim of our research was to map the currently used communication tools and processes, with a particular focus on how well they meet the expectations of today’s business environment and how they could be improved in the future.
Through semi-structured interviews conducted with the corporate partners of the University of Debrecen, we gained deeper insight into how inter-institutional communication works in practice, what challenges arise, and what development needs are identified by the stakeholders involved. The findings highlighted that, although existing tools are often functional, there is a clear demand for a consciously designed, innovative, and flexible communication system.
Our research is future-oriented: our goal is to formulate development proposals that support higher education institutions in building more dynamic, technologically supported, yet human-centered communication with their partners. These modern communication models could not only enhance institutional competitiveness but also provide students with more valuable and authentic networks for engaging with the business sector.
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BUDGET AND PUBLIC DEBT FINANCIAL STABILITY IS A PREREQUISITE FOR SUSTAINABLE GROWTH
1-21Views:199The central thought of this article is the relationship between the stability of public finances and the sustainable economic development of the country. The paper aims to find an answer to the question to what extent the outer and inner conditions of the social and economic functioning have contributed to, and hindered the domestic development in the quarter of the century after the change of the regime. The article proves that stability and growth are predisposed to strengthen each other. In absence of financial stability, we cannot talk about competitiveness as a prerequisite for the sustainability of growth, or in a wider sense, the realization of the public good. The latter can be observed basically in the fact that the interests of financial stability and growth are in equilibrium and the satisfaction of socio economic needs is realized in the frame defined by them.
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The State of the Bulgarian Agricultural Sector in the First Period (2007-2013) of the EU Membership
54-60Views:161With Bulgaria joining the European Union in 2007, the Common Agricultural Policy (CAP) has become a decisive factor for the Bulgarian agriculture. The introduction and implementation of the CAP is far from optimal; positive and negative effects are both present. The performance of the agricultural sector in Bulgaria is not living up to its potential. Despite the subsidies received by the sector (more than 4 billion BGN), and the increasing national contributions between 2007 and 2013, its efficiency and profitability indicators have declined, and it remained at a low level of competitiveness. The processes of land concentration have accelerated. The SAPS subsidies are disproportionate and they prevent the shift to market orientation. The SAPS system caused
structural disharmony in the sector; the production of cereals and oilseeds has become predominant to livestock and fruit, and vegetable production. These problems can hardly be solved by the new CAP.