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Practical experiences of business performance measurement in Hungarian e-commerce
58-75Views:177In 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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Study of employee performance measurement, evaluation and management practices in tourism and catering companies in Szeklerland(with special reference to Harghita county)
22-32Views:315As a resource, people are one of the most important factors in the modern economy. From a subjective measurement approach, it can form the basis of business performance measurement. In this research, I am looking for answers to the question: what does business practice show, and how consistent is it with theoretical findings? The results of the research show that companies operating in the hospitality sector in Harghita County are consistently aware of the fact that employee performance contributes greatly to company performance. For this very reason, employee guidance, performance monitoring and feedback are considered significantly important. Employee performance is measured and evaluated informally, often on a monthly basis. The standardised, formal form of measurement, on the other hand, is only done annually, from time to time when necessary. However, its frequency increases significantly with the size of the company. Companies are moderately satisfied with the current employee performance measurement and evaluation. They are therefore aware that there is room for improvement. In their opinion, the introduction of a performance management system in the future would make a significant contribution to solving the problems discussed in the research. In doing so, it would also contribute to the improving of the company's business performance at the same time. Our development objective could be to provide guidance in this area for the future.
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The Impact of Green Marketing Strategies on Employees Green Performance: An HRM Perspective
83-92Views:550The rising concerns of the influence of human actions on the environment has resulted in a growing focus in the field of management science, particularly Human Resource Management (HRM). The right direction of going green must be directly linked with Environmental, Economic, and social performance Also, the field of Green Marketing has recently gained significant interest from researchers and practitioners in the realm of consumer behavior. Marketing and HR are fundamental departments in any organization, and their collaboration is essential for the success and resilience of a business, especially if the focus on sustainable development. This research aim to identify the impact of GM on employees’ green performance (GP). Also, to enhance research efforts, and improve the search process for other researchers seeking relevant paper and future research. The research problem has been formulated with the question: Can green marketing impact employees’ green performance by adapting, implementing, and promoting environmentally conscious behavior and corporate sustainability. This article provides a systematic Literature Review of existing research as a methodology. This research found that business can use GM strategies to impact the employees GP. Therefore, promoting and encouraging environmentally conscious practices in the workplace and incorporating a “sustainable culture” will help employees feel healthier, more motivated to finish their work, easily communicating their ideas about best green practices, and more satisfied with the company.
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COMPARATIVE ANALYSIS OF PERFORMANCE MEASUREMENT METHODS
Views:719Performance assessment - assessment of the financial and economic performance of companies - is of particular importance both in determining the performance of individual companies and in comparing companies. There are numerous different frameworks and different methods of performance assessment in the scientific literature and in business practice. With the expansion of globalisation and the emergence of a new economy, the focus on this topic is even more prominent. The aim of the present article is to review the literature on performance assessment and to describe two selected frameworks in more detail.
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COMPARATIVE EFFICIENCY ANALYSIS OF THE AGRICULTURAL ENTERPRISES IN HUNGARY AND ROMANIA
41-48Views:223Performance measurement is of fundamental importance in all sectors of the national economy. However, this is especially true for agriculture because more efficient management is becoming increasingly important in this sector as well as well to supply the population with adequate food. The study examines the performance of Romanian and Hungarian agricultural companies. A total of 5,390 companies were selected for the analysis database, of which 3,789 were Romanian and 1,601 were Hungarian. In the performance analysis, the companies’ efficiency was examined between 2018 and 2020 using the Data Envelopment Analysis method. Based on the results, it can be concluded that the Romanian agricultural companies operate with statistically significantly lower efficiency than the Hungarian ones. However, it can also be concluded that the average efficiency of enterprises is very low in both countries. The performance is low, even considering the averages of the sub-sector efficiency coefficients. There is no year when the average efficiency ratio in any sector exceeds 50%. On the other hand, the sub-sector analysis of Oilseeds and Cereals shows that, especially in Romania, the proportion of companies with an efficiency coefficient below 50% is very high. Similar conclusions can be made regarding the poultry and egg production subsector. Further research is needed to reveal the reasons more precisely for the low efficiency of agricultural companies.
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Ethnic diversity and the impact of foreign players on the sporting performance of the hungarian NB I (2021-2024)
91-100Views:141This study analyses ethnic diversity and player migration in the Hungarian top-tier football league (NB I) over the 2021–2024 seasons. The research builds on a self-compiled quantitative dataset of 130 observations using secondary statistics from Transfermarkt and the official database of the Hungarian Football Federation. The findings show no significant direct correlation between the proportion of foreign players and team performance, measured by final league standings, as indicated by both Pearson and Spearman correlation coefficients. Instead, team success appears to be driven by a complex set of factors, including coaching quality, financial resources, long-term club strategy, youth development, organizational stability and team cohesion, in line with international evidence on the link between diversity and performance in professional football. The study also highlights the hybrid nature of the Hungarian football labour market, where the share of domestic players has increased while foreign players still occupy key positions, particularly in attacking roles. From a labour market and strategic perspective, the paper argues for a balanced and sustainable player policy in NB I clubs.
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Resources for increasing management performance and efficiency
204-207Views:252The aim of the paper is refer to resources how to increase management performance and efficiency in field of industrial companies. We try to refer to opportunities which could be useful and applicable and should lead to performance improvement. The paper also discusses about factors effecting organizational and management efficiency.
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Analysis of practice of sustainability reports
43-52Views:527The responsibility of companies to reduce the negative effects of climate change is obvious. The transition from a traditional linear economy to a circular economy means an increasing burden on companies. Besides the adequate financial performance, more and more emphasis is being placed on environmental performance. This study examines the non-financial sustainability reporting practices of 20 companies listed on the Bucharest Stock Exchange. The analysis used non-financial reports of companies with the highest market capitalization between 2020 and 2022. The analysis results support that the reports of environmentally sensitive companies are more extensive and detailed concerning investigated aspects. The details and length of the companies’ ESG (Environment, Social, Governance) reports increased during the three years examined. The environmental and social aspects of disclosed documents are more detailed for the banks, the oil extraction, and the telecommunication companies. In the company sample examined, it can be observed that most of the reports are prepared according to the GRI regulation. It can also be observed that the companies examined made more detailed and longer reports. The research results also support the fact that the aspects of the ESG report (E, S, G) also depend on the sector in which the companies operate.
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EXPLORING THE VIABILITY OF SERVICE ROBOTS IN PERFORMING HUMAN AESTHETIC LABOUR IN THE HOSPITALITY INDUSTRY
60-68Views:418This 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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FINANCIAL ANALYSIS OF LISTED COMPANIES OF VISEGRAD COUNTRIES AND ROMANIA
8-17Views:365In this study, listed companies of 5 countries (Hungary, Slovakia, Poland, Czech Republic, and Romania) were analyzed between 2014 and 2018. The data was downloaded from www.EMIS.com. Financial institutions and companies with too many missing data and those that were not full period listed on the stock exchange were removed from the dataset. The main aim of the research was to compare the performance of the listed companies on the stock exchanges of countries examined. First, there was analyzed performance indicators, then market indicators. Using variance analysis, there was investigated the differences between countries based on ROS, ROA, ROE ratios, which then was expanded to include some market ratios. Based on the results, it can be stated that due to the difference in the number of listed companies and the size of the companies, large variations can be observed both within and between countries. No best country can be determined because almost all of the indicators perform better in different countries during the period examined. It is important to note that earnings per unit capital are the highest in Hungary and the Czech Republic, so investors are likely to expect higher returns in these countries. During the analysis of variance, there could not be found in many ratios with significant differences between countries over the years investigated.
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Profitability of exponential and simple moving average crossover strategy and the profitability of trend trading
34-42Views:516The study focused on trading based on the signals of indicators, specifically examining a strategy using moving average crossovers. One of the main purposes of the paper was to analyse the efficiency differences between the simple and exponential moving average crossover strategies. Additionally, the study explored the impact of trend-following trading on the performance of indicators. The research tested the performance of indicators using the example of companies with the highest market capitalization. The main conclusion of the article is that there was no superior indicator in cases of the examined stocks. Furthermore, during periods of predominantly rising trends, the buy-and-hold strategy outperformed the active trading strategy based on indicators.
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The entrepreneurial willingness and motivations of university students
90-102Views:358In 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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DIGITALIZATION CHARACTERISTICS OF THE CONTROLLING AREA OF COMMERCIAL ENTERPRISES
49-59Views:433One of today’s most important social and economic phenomena is the fourth industrial revolution, the effect of which is that digitalization can significantly transform business processes. The corporate controlling area cannot avoid transformation either, its methods and tools will change. Just as controlling itself, its changes can also differ between sectors, especially in the extremely diverse service sector. The aim of the research is to examine, on a domestic sample, whether there are differences in this respect between companies with a main commercial activity and the rest of the service sector. The data of the questionnaire research conducted with 46 controllers and managers were evaluated by means of cross-tabulations, averages and statistical tests. There are no differences in the digital development of the key performance indicators that form the basis of controller work, in the use of ERP systems, automation solutions and language algorithms. In the commercial group of the sample, the use of business intelligence tools providing advanced planning and analysis options is significantly more common. The two groups of the sample do not differ in terms of the factors encouraging the digitalization of the controlling area, but the companies with a commercial main activity differ in terms of the importance of the factors hindering the process: they are more averse to new technologies, more afraid of their usual positions, but perceive the financial aspects of the development to be less important.
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Tourism Competencies Development – Contradictious Perceptions of Stakeholders
126-141Views:281Tourism and hospitality sector has an important role in the national economy as it has high labour intensity, generates foreign currency income and improves the local economy by multiplier effect. Tourism labour market employs a wide range of employees from non-qualified to highqualified people. Tourism tertiary educators in Hungary continue their operation by national-level legislation, and accreditation and students who complete tourism courses (should) be capable of professional occupation. The post-Bologna system offered more opportunities in tourism and hospitality education; two distinguished courses were available on the educational market to educate hospitality or tourism experts. After 2006, by launching Bologna system, institutions are allowed to commence just one, Tourism and Catering bachelor programme. A questionnairebased survey was conducted among graduating bachelor students with tourism and catering major, tutors teaching tourism and catering students and actors of tourism market, who going to be the employers of tourism graduates. The main aim of the research was to explore the personal or organizational expectations of stakeholders for professional competence development as a result of tourism and catering bachelor-level education. The bust majority of students stated that their primary aim is to gain professional competencies in tourism and hospitality to be able to fulfil managerial positions or to continue their studies on master-level. Although generic competences as communication skills in foreign languages, social sensitivity, problem solving or creativity have salient influence on job performance, students did not believe that they would be
essential. However, these factors were thought to be the most crucial by tutors and tourism service providers despite the fact that generic skill development is not in focus in tourism and catering bachelor-level education in Hungary. Not just the educational institutions but tourism companies providing work placement for students were considered to be an appropriate basis for competencies development that raised the question of monitoring and assessment. The findings can be profitable for all stakeholder group or policy decision makers in bachelor-level curriculum development. -
Innovative aspects of tourism development in Russia
157-160Views:241The author applies three main approaches to examine the tourism development in Russia, which has a variety of climatic zones and rich tourist resources, namely, cluster, special economic zones and targetoriented approaches. The specifi city of their implementati on is further observed at regional level. Conclusions and recommendations are aimed at performance improvement of the tourism industry.
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The financial significance of player rights based on the financial statements of hungarian and international football clubs
76-85Views:190In contemporary football, the financial dynamics of clubs are increasingly influenced not only by on-field performance but also by player market transactions, which have gained significant economic importance in recent years. Transfers have become pivotal financial events for football clubs, with the sale of player rights playing a fundamental role in their revenue structures and financial strategies. This study examines the financial statements from 2020 to 2024 of three football clubs operating under different accounting standards: FTC Labdarúgó Zrt. (complying with Hungarian accounting regulations), Borussia Dortmund KGaA, and Juventus Football Club S.p.A. (both adhering to IFRS). Through a comparative analysis, the research investigates the extent to which revenues from the sale of player rights contribute to the total income of these clubs and whether there is a discernible trend of increasing reliance on this revenue stream during the specified period. The study aims to elucidate how intensified activity in the player transfer market is reflected in the financial statements of these clubs, particularly concerning shifts in their revenue structures.
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Innovative aspects of tourism development in Russia
153-156Views:311The author applies three main approaches to examine the tourism development in Russia, which has a variety of climai c zones and rich tourist resources, namely, cluster, special economic zones and target-oriented approaches. The specifi city of their implementai on is further observed at regional level. Conclusions and recommendai ons are aimed at performance improvement of the tourism industry.
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Rotary-Wing Unmanned Aerial Vehicles
88-98Views:335The weight of these flying devices ranges from some dekagrams to ten tons. They can be used even in cases when the mission is too dangerous to risk the life of human beings, so the main field of their application is the military aviation (reconnaissance, observati on, and even armed att ack). The practical solutions of their airframe structure are more colourful than that of the traditional manned aircraft airframe structures. It is understandable considering that even extraordinary soluti ons can be tried with relati vely small financial risk. The airframes of Unmanned Aerial Vehicles are smaller and their designers are not so keen for conventional solutions. By their airframe structure, three diff erent categories can be separated: fi xed wing, rotary wing and hybrid. By the takeoff and landing solutions, also there are three categories: Horizontal Take Off and Landing – HTOL), Vertical Take Off and Landing – VTOL) and their combination. The objective of this paper is to introduce the performance of VTOL types and to present their possible applicability as well as their limitations.
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Lessons of the Value Assessment
47-56Views:240IThe students going into vocati onal schools generally present a poor performance in the primary school, they experience much failure, because they have to repeat classes or their study achievements are hardly bett er than 2 (a pass). According to the results of research works, vocati onal school students are exclusively those, who have been forced into this area by the harsh social determining factors. Their value-orientati on/value-selecti on are greatly infl uenced
by their starti ng point (family environment). Most of the children admitt ed to vocati onal schools come with signifi cant social and educati onal disadvantage. Most of the gypsy pupils suff er from such a failure at the very beginning of their school studies that they drop out. The failures are expressed in their defi ciency in studies but the sensiti vity, the lack of ability to tolerate failures are also important in case of the gypsy children. Sti ll, the further educati on is the channel of social mobility. Major questi ons of the assessment: can the underprivileged situati on of these young roma people be eliminated using this unique value training programme applying its various teaching mean; will the secondary citi zen feeling be reduced or eliminated through collecti ve work and learning the instruments and methods to be used for promoti ng personal advancement; will the value-programme solve the existi ng confl icts between the young ones, who treat the school as a strange insti tute and the teachers, who consider the young ones who disapprove of the existence of school if they mutually accept the status of being diff erent; will the special value training programme provide enough knowledge to give chance for the parti cipants to be
competi ti ve on their life. The answer of the four-years assessment is that these young roma ones can be changed. -
Adaptation of automated control technologies in SMEs
80-89Views:297The 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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Branding Hungary as a Health Tourism Destination: Asynchrony Problems
68-72Views:280Branding a country as an attractive tourism destination is an extremely complex and long-term endeavour. There are several brand assessment systems using diverse methodology for creating brand indices for countries. In the Bloomberg brand indexing system Hungary is ranked 20th in Europe and by Future Brand 23rd in 2014. These placements are indicators of a relatively poor performance of Hungary as a nation brand and warrant an integrated image building effort
independent from the changing political power structure. There are certain basic principles to adhere to in branding a tourism destination be it settlement, regional or country level. One of the keys to succesful branding is synchronising marketing efforts on different levels. Asynchronous communication and strategies lead to confusion in image perception, hence the weakening of the brand. The present paper aims to examine some of the asynchronies in the branding of Hungary as a health tourism destination. -
Blockchain in Logistics
1-13Views:58The efficiency and performance of logistics, and thereby business operations, increasingly depend on decentralized and tamper-proof records for managing transactions and data flows. For these reasons, the use and professional implementation of blockchain technology (BCT) has become essential to preserving the competitiveness of the digital and globalized economy. My aim was to examine the collaboration networks of articles on blockchain in logistics published in recent years, and to identify the key studies that may prove fundamental. Data was collected from the Web of Science scientific database in accordance with the PRISMA guidelines. The results were visualized using the VOSviewer bibliometric analysis software. As a result of the screening process, I analyzed 32 relevant studies in detail. I found that the United Kingdom and China play leading roles in this field, with several research groups contributing simultaneously to the scientific outcomes. Based on keyword analysis, a total of five clusters were identified, each representing distinct research areas.
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Generation Y = self-confidence?
25-32Views:253It is assumed that certain personality traits, defined as key competencies by employers and providing competitive advantage on entering the labour market, may be developed in the process of teaching presentation techniques in the “Presentation and Writing Skills” college course. Our findings imply that these changes are not linked to the teacher’s personality or the language in which the subject is taught. As the term progresses, students are becoming increasingly creative, more and more self-reliant in problem-solving and confident in assessing both their own and their peers’ performance, which, in turn, raises their self- onfidence, supports assertiveness and gives energy exerting beneficial influence not just on further studies but on their future career, as well. Our paper briefly describes Generation ”Y”, our teaching methods and the results of our survey.
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Mapping online shopping and electronic payment behaviour with the UTAUT model - literature review
115-125Views:547The literature identifies several theories and frameworks for assessing user acceptance and adoption of new technologies, of which the TAM (Technology Acceptance Model) and its extensions, and the UTAUT (Unified Theory of Acceptance and Use of Technology) are the most popular. Several studies confirm that the UTAUT model has proven to be effective in investigating the causal relationships between behavioral intentions. In the literature review, we aimed to explore, alongside specific parameters, which dependent and independent variables are relevant to investigate individuals' attitudes towards online shopping and electronic payments. In addition, we aimed to explore how the basic UTAUT model could be complemented to increase the effectiveness of the study. By acquiring the relevant literature background, we laid the foundation for the implementation of our primary research, which aims to map the online shopping and electronic payment behavior of university students using the UTAUT model. The literature review concluded that the variables of the basic UTAUT model should be extended to include perceived trust and risk, as well as service quality and awareness. If users believe that a technology will improve their performance, they are more likely to adopt and use it. Individuals are more likely to adopt a new technology if it is easy to use. This is determined by user interfaces, user-friendliness, the complexity of the tasks required to use the technology, and the perceived ease of interaction. The way in which individuals relate to a new technology or system is also influenced by the social circles in which they participate.
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The State of the Bulgarian Agricultural Sector in the First Period (2007-2013) of the EU Membership
54-60Views:223With 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.