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REPORTING IN INDUSTRIAL 4.0 - ETHICS & EFFICIENCY
42-50Views:446Entering the digital age, business conditions have changed. The social and economic effects of Industry 4.0 surround humanity. Systems that work together in the cyber-physical space move companies and create value. Naturally, the management wants to evaluate these processes and wants to see reports about them. New times, new winds, that is, the activities of a company based on digital technology require a new kind of reporting technique and methodology. The study briefly introduces the tools we use for this purpose. These tools (methods) also raise a number of ethical issues, while controlling and reporting must also meet the pressure of efficiency, that is, we have to increase the efficiency of reporting.
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SUSTAINABILITY FAILURE: SOME CAUSES OF INACTION
1-7Views:198While the question of sustainability has received more and more attention and publicity in the past decades, all ecosystems services has been constantly deteriorating during the same period. There is an abyss between theory and rhetoric and meaningful and effective action. Our present-day socio-ecological crisis is the result of a distorted world view which in turn is caused by deep psychological mechanisms affecting the individual and the society. Recognizing these underlying mechanisms, making people aware of how they work might help change the suicidal course that the developed societies based on free market capitalism, neoliberal ideology and excessive consumerism has been on in the last two hundred years. This paper aims to discuss some of the obstacles that seem to have been hindering effective action.
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SELECTION OF TEST LOCATIONS FOR THE DEVELOPMENT OF A SMART MAP SUPPORTING THE RESIDENTIAL USE OF RENEWABLE ENERGIES
1-23Views:161Abstract
In the European Union, the population uses 26% of the energy. Due to the strategic goal of achieving climate neutrality and the crises of recent years, investment in the use of renewable energies has accelerated. In order to support this process, the Circular Economy Analysis Center of the Hungarian University of Agriculture and Life Sciences (MATE) started the development of a so-called multidisciplinary smart map, which shows the possibilities of renewable energy sources that can be used locally, and the selection of the optimal energy production mix based on the location of residential buildings and buildings. The purpose of this article is to present the selection of test sites necessary for the development of the map, highlighting their geographical, meteorological, economic, and social characteristics. Based on the applied multi-criteria system, the selection of testing locations and tasks is a complex task. The investigations are summarized in five chapters. The first one describes the introductory thoughts related to the initiation and development of the project. The second deals with Hungarian residential energy consumption in the light of international data. The third presents the principles of smart map development and defines the criteria for testing locations. And the fourth one analyzes and presents the principles and possibilities of selecting locations. The fifth part summarizes the location selection process, describes the methodology of the applied analyzes and describes the results of the location selection. The described procedure can guide the examination of these factors in other international projects.
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DEVELOPMENTAL STAGES OF STRATEGIC THINKING AND STRATEGIC MAKING
Views:92This article is about developmental stages of strategic thinking, detailing the era of strategic planning and strategic management, and their differences.
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Working capital analysis of pharmaceutical companies in Central Europe
1-13Views:25The pharmaceutical industry has huge market potential and investment opportunities, while pharmaceutical players also face a number of challenges, such as regulating the production and pricing of active pharmaceutical ingredients, protecting intellectual property and competing with other players. As a key sector of the Hungarian economy, the industry generates a significant share of GDP and has grown dynamically in recent years, the aim of our study is to compare the activities of Hungarian industry players with sectoral companies in other Visegrad countries, and thus to examine the similarities and differences in the liquidity management of the pharmaceutical industries in these countries. The analysis was based on the annual accounts of regional pharmaceutical companies for the period 2018-2022, extracted from the EMIS database. The period covered included several globally significant events, and therefore our research also examined the impact of the coronavirus epidemic and the war in Ukraine on pharmaceutical companies and whether there were differences between the Central European countries. Overall, sectoral players in each of the region's countries were able to keep their indebtedness under control and, although Hungarian companies were able to manage the largest assets, by the end of the period the working capital efficiency of Polish companies was better than their regional competitors overall.
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Discussion forum (course) – a practical approach to communicative competence development
142-147Views:92The paper describes and discusses the observations and findings of three years of teaching a unique English language course – “Discussion Forum” within the study programme Foreign Languages and Intercultural Communication at the Faculty of Applied Languages, at the University of Economics in Bratislava. It presents the original format as it was introduced in 2010 when the study programme was accredited and its development and alterations based on the collected experience and evidence of both students and teacher. Three debate formats, speech duel, round table and team debate, are described and their shortcomings and merits are evaluated. Finally, the findings and conclusions arrived at since the first implementation, are discussed.
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The interrelationship between the factors influencing retail selection behavior and FMCG market network
77-82Views:228From the consumer behaviour perspective the role of retail selection have a salient importance. Hence in the case of FMCG markets network development as a key area of store chains’ distribution systems is a substantial tool in competition for customers. In our paper we investigate the main network development influencing factors in the case of main store chains is Hungary. We also detail the relationship between the size and the change of store chains and the consumer store choice, possibilities, and the freedom-level of decision making
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COVID-19 AND CORPORATE SOCIAL RESPONSIBILITY: EVIDENCE FROM NIGERIAN MICRO, SMALL AND MEDIUM ENTERPRISE (MSMEs)
Views:107The 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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CONSCIOUSNESS AND CONSUMER PROTECTION ON THE ONLINE MARKETS
31-38Views:216The consumer asserts that his or her decisions are consistent and rational. Basically, we must distinguish between real and presumed awareness. Real awareness is rooted in the knowledge of consumer rights, while presumed awareness exists only in the consumer’s belief in himself. The purpose of my research is to assess the level of consumer protection knowledge of the respondents and to draw conclusions about the consumers’ awareness, i.e. to measure awareness in terms of consumer protection on the online markets. I can state that the rules of the 14 day period of withdrawal without stating reasons when shopping
online and the VAT and customs duty obligations of foreign webshops are less known by online customers. -
Born to Consume? Some Aspects of Consumer Socialization
99-104Views:179Are we born as consumers or we become that during our lifetime? However most of human behavior in developed societies regarded as consumer behavior, we do not born with that knowledge but we rather acquire it step by step during our life. Studying consumer socialization makes it possible to understand the most the process of becoming a consumer, the context how consumers live in the society, what are the facts that have an effect on this process.
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SOME SPECIFICITIES OF THE CURRENT ASSETS OF HUNGARIAN DISTRICT HEATING SUPPLIERS BASED ON THE ANNUAL REPORTS OF 2009-2017
34-41Views:155The present study focuses on the asset-structure of the Hungarian district heating suppliers with a special interest in their current ratio and the structure of their current assets. The research is aimed toward the examination of the current ratio and the structure of the assets serving short-term obligations and toward finding the characteristics of these companies in terms of their liquidity. The study also aims to find specificities characterizing the sector of district heating supply that can later be used for other research purposes. In terms of its methodology, it is based on report analyses with the reports of 72 Hungarian companies as sample population. Data retrieved from the reports is complemented with certain technical and economic information and analyzed in the time frame of nine years (2009-2017).
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WHAT CHALLENGES DO INTRAPRENEURS WORKING AT ENTREPRENEURIAL UNIVERISITIES FACE?
Views:63Abstract
Although entrepreneurs have been researched from many different perspectives, the subgroup of internal entrepreneurs has been somewhat neglected in the literature.
After the overview of the definition of the intrapreneur, we will examine why organisations need this type of people and what are the most important factors that facilitate or hinder the emergence and motivation of intrapreneurs.
A literature review on the databases of Scopus and Web of Science draws attention to the fact that, despite its importance, there is little research on this topic, especially in the field of entrepreneurial universities.
The barriers identified in the literature for internal entrepreneurs in entrepreneurial universities are presented and suggestions for further research are made.
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Differential supply management by age in hotel tourism products
27-33Views:172In the development of hotel product strategies, the proportion of diversification and differentiation is a major decision that the hotel offers a wider range of services, which will help to find most suitable for guests, or narrows down its targeted segments and provides them with specific supply elements. One segmentation aspect could be the age of guests. The most prominent and identifiable age group in the supply is the senior, which has always been important for hotels. They have the off-season demand, predictable and well-known needs, their satisfaction is easily accessible. The research is looking for the answer to the question of whether the hotels have the opportunity of acquire the senior segment and what are the special features of the products recommended for them. Parts related to the topic of tourism marketing literature have been reduced to the accommodation services in the secondary information processing section of this paper. This is followed by the identification of the segment's booking and residence habits. Primary analysis of supply will be by observation of collecting and comparing the hotels' offerings to senior guests
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International interactions in the light of linguistic affinity
Views:199Although international trade economists often highlight the improtance of common currency, FDI flows or other factors in bilateral trade relations, quite few papers focus on the role of languages or linguistic similarities in this respect. The uniqeness and difficulty of this topic lie in its complexity. Analyses generally lean solely on official languages losing useful peaces of information hidden in the fact that a great number of people use other languages in their everyday life. In the absence of common mother tongue bilateral economic interactions can be intensified by foreign languages acquired by a great share of people in both countries. We emphasize that english seems to be the only universal mediator among trading countries in the world. A further aim of this paper using the results of Eurobarometer surveys is to point to the role of linguistic affinity in international economic interactions based on the case of Estonia, Finland and Hungary.
Journal of Economic Literature (JEL) codes: F10; Z10
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Assessment of the New Regional Plan in Mongolia with regards to Rural Development and Urbanization Issues based on Arkhangai and Uvurkhangai Provinces
Views:136This study discusses the relationship between the rural development process in Mongolia regards to its rapid urbanization issues.This paper took Arkhangai and Uvurkhangai, two similar provinces, and compared their rural development from 2013 to 2021 to understand the complex relationship between rural development and urbanization issues. A chain-based method, fixed-based method as well as per capita methods were used to get more accurate results from the comparison. The results confirmed that ongoing rural-to-urban migration due to more access of education, workplace, etc. (due to its more attractive factors) slows down the development of such factors in that rural area, putting the whole process in a cycle. As for the two provinces, the infrastructure, education, health level is all similar, but their potential economic growth is specialized in two different sectors. Arkhangai has more agricultural products due to its land and soil resources and Uvurkhangai has more potential for the tourism sector. It can be concluded that the government’s new plan of dividing the country into six regions with specialized enterprises would be a good idea for future rural development projects (previously there were only four regions existing).
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Educational Tourism: a Conceptual Framework
30-37Views:99Though educational tourism has already emerged in the early times in Europe, the theoretical analysis of educational tourism is relatively recent. The firts books on educational tourism were only published in 2003. In Hungary the weight of educational tourism is not hight - less then 1% of tourism arrivals and less than 4% of total tourism spending - but per capita spending is the highest among tourists arrivinh in Hungary with educational purposes. Surprisingly tourists arriving for longer than one day with an educational purpose had more than 100% higher spendig during the last couple of years than tourists arriving for more than one day with business purposes. Because this high spending educational tourism is very important for the towns, where foreign students pursue their studies. Not only foreign student mobility can be regarded as educational tourism but internal student movement as well. Students who live other towns and who come to a town to entrol at a university have important contribution to the economy of this town - just like the non-educational, traditional tourists to do.
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ESPORT IN HUNGARY: ORGANIZATIONS AND DEVELOPMENT OPPORTUNITIES
Views:594Eco Currently we witness the exciting period in life of the esports, which seems to have received considerable attention even among this extraordinary season caused by the COVID-19. Although referring to the status of games (way of sports), such as Fortnite, DOTA2, Overwatch, LOL, etc together with its competitions, competitors and its follow up became quite common, the profession so far seems to neglect dealing with the social and organizational background of that, also with the development possibilities. The methodology of this essay is, through secondary analysis made during the discussion of the professional literature, is empirical qualitative interview method, which was carried out among professional organizations, sportsmen, and by doing this we sought to answer the question: What is the current national state of this sport, what difficulties, prospects characterize even individuals and organizations in this sphere, also including social specifications. Results point out that numerous changes should be desirable equally from the organizational and social side.
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FINANCIAL ANALYSIS OF LISTED COMPANIES OF VISEGRAD COUNTRIES AND ROMANIA
8-17Views:223In 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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AWARENESS OF THE ADVANTAGES OF VOL-UNTARY MUTUAL FUNDS ACCOUNT
13-20Views:133Building upon the results of my dissertation, in the course of my research I studied that how households know and take advantages of tax benefits of Voluntary Mutual Funds. It is im-portant to find out the reasons why it is losing its relevance and why the households are not making better use of the related government grants. In my present article I discuss the ac-quaintance of Voluntary Mutual Funds Account, with its advantages and disadvantages. Also the functions of households in the Budget, or in other words, what unexploited opportu-nities are there, that are worth utilizing in every household with the appropriate financial knowledge. I examine the answer to the question to how the households could be influenced, or influenced better to take advantage of several government grants, or to do that more effi-ciently. In the interest of this it is necessary to develop people’s financial culture on the ap-propriate level. Government regulations are not enough. It cannot reach its aim properly, if there are problems with the flow of information in the course of coding or decoding, prevent-ing the appropriate communication.
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New generations – new trends in the spa industry
21-26Views:503Today's tourism market is a scene of rapid changes that equally affect the demand and the supply side. In the spa industry market, due to the presence of both wellness and medical services, a wide range of generations appear as consumers, with different expectations toward the service providers. Therefore, the changes taking place in the present and the upcoming years are worth exploring, which, in addition to the changes in consumer habits, visualize the expansion of consumer needs. Current article attempts to describe the expected spa services by examining the nature of generations and identifying future changes that can be predicted. The author primarily tries to summarize the market trends that contribute significant changes, using international and national secondary resources and the professional experience gained in the industry.
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TERRITORIAL INEQUALITIES IN EUROPEAN UNION AND IN ROMANIAN REGIONS
51-61Views:232The quickly increasing of economic and social inequalities are the most prominent territorial process. Economic disparities between the regions of the European Union are of constant concern both for policy and economic research. Romania is one of the European Union countries within regional inequality is high. The purpose of the study is to present the evolution of the economic and income disparities in the romanian regions by examining the period of 2014-2018.
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SUPPLY MANAGEMENT IN TOURISM WITH GENERATION SPECIFICITY
Views:232Both tourist service providers and tourism developers it is becoming increasingly important to take into account the generational aspects. Generation’s problem is classically related to the activity of human resource management as a factor for employees involved in providing personal services appearing an integral part of the supply. The second one, but not the secondary aspect is related to the generational characteristics of demand that should be reflected in the supply of services. Generational demand characteristics are identified by a primary, question-based method, and the supply was analysed by observation generations’
specific tourist products. Comparing the obtained results leads to the conclusion about the adaptation to the generation needs. -
Investigation of consumer behavior in social media in the handball
55-65Views:148Social media exploded onto the scene roughly two decades ago, revolutionising the way we think about marketing communication and the way we think about information delivery. It has opened doors that were unprecedented. It can also be profitable for sports companies if they can deliver effective marketing communications to their existing and potential customers. To be effective in this environment, it is important to analyse consumer behaviour to identify the real needs of users and to meet those needs. We used an online questionnaire to assess the consumer needs of our respondents and the social media market from a marketing perspective. We conducted a handball specific research, excluding individuals who do not follow handball at any level from the study sample. We also looked at age differences, and device usage. Given our results, it can be stated that thorough market research is important for effective marketing communication by a handball club on different social media platforms.
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The key to rural development, startup - a new and innovative environmental solutions business search engine
135-142Views:145In the 21st century is a difficult task that just completed a tertiary education institution whether it can be college or university. The theoretical part of the school to learn their profession, but it is possible that the future work over the years to acquire the practice. Environmental and agricultural development specialists’ undoubtedly great expertise, which is great emphasis on research, and the resulting innovation that is present several areas. With the new technologies work more effective, energy efficient and become more conscious. By a recent graduate professionals startup business can achieve even greater success, not only in his country but also abroad supports not only the Hungarian economy by this, but also enhances the reputation of the country. Institution of higher education in the region Szolnok completed by 100 persons completed a quantitative research, which is very interesting information can be obtained.
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DOES THE NOTES TO THE FINANCIAL STATEMENT HELP IN MAKING DECISIONS?
Views:242Available 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.