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Unfair banking practices, or the theoretical and practical importance of operational risk management nowadays.
1-14Views:349Nowadays, the management of operational risks in banking ̶ in particular conduct risks ̶ is becoming an increasingly important part of risk management. The financial crisis of 2008 and partly related to it, the Hungarian foreign currency loan crisis, have highlighted on the importance of this. Both crises were triggered, besides other reasons, by unfair banking practices and by the failure to respect the principle of fair banking. In my research I am looking for answers to the question to what extent can be considered unfair banking practices if banks impose several financial products on their customers, such as insurance and overdraft facilities, which they do not need. I will also examine to what extent the customers are aware of the fact, that they get a linked product and what it means for them in terms of risk-taking. My research consists of several parts. Firstly, I define operational and conduct risks. After that focusing on Hungary, I will examine the sales and commercial banking practices that played a role in the development of the foreign currency loan crisis, with a particular focus on the conduct risks. I will define what can be considered unfair banking practices. At the end of my theoretical overview I take into consideration why the linked products sold by today's Hungarian financial institutions are problematic and how information asymmetry drives a wedge between the bank and the customer. I also conduct primary research in the course of my research. Using an online questionnaire, I investigate the choice between current account structures of the Hungarian adult population. The results are analysed by using statistical methods.
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Is an education programme based on social innovation sustainable?
114-124Views:160Social sustainability is a key concept that can be identified as an important factor in the processes supporting the satisfaction of the current needs of humanity and the preservation of the environment and natural resources for future generations. Social innovation initiatives are solutions that support a sustainable future and can be suitable for mitigating differences at the regional level, increasing regional competitiveness, and helping to catch up. The reduction and elimination of educational inequalities requires long-term solutions that require innovative cooperation between the actors of society. Within the framework of the study, we examine the examples of social innovation efforts in education and the effects of these practices, during which we pay special attention to issues of social sustainability. Our goal is to present social innovation programs and good practices that can be identified as equalizing education solutions and can be adapted and sustained in order to increase well-being while taking into account local needs and demands as well as the characteristics of the given community. Within the framework of the study, the examined good practices are presented in a structured form, emphasizing the key elements that ensure social sustainability.
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The role of planning as a management task in organizational change – an empirical investigation of organizations in the North Plain Region
Views:11Organizational change today represents an unavoidable challenge for all organizations, in which leaders play a key role. Planning as a management task is not merely a technical tool but also a strategic process that determines how organizations are able to adapt to changes arising in their external and internal environments. The aim of the present study was to explore how planning contributes to the successful management of change and how it influences organizational transformation in institutions of the North Plain Region. The empirical investigation was based on a sample of 236 respondents, including a diverse range of organizational types. Beyond descriptive statistics, correlation analyses were conducted to uncover the relationship between planning practices and change management. The findings reveal that planning is not merely as an administrative duty but as a strategic management tool that enhances organizational flexibility and long-term adaptability. The results contribute to a deeper understanding of organizational change practices and may serve as practical guidance for leaders in the planning and implementation of change.
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The Importance of Training and Development Programs in Promoting Sustainable Consumption Behavior: An HRM Perspective
47-55Views:422The increasing awareness of the impact of human activities on the environment has led to a growing interest in sustainable consumption behavior. Sustainable consumption behavior refers to the choices and actions of individuals, households, or organizations that prioritize the long-term well-being of both the environment and society while meeting their needs and desires. It involves making responsible and ethical decisions about what to consume, how much to consume, and how to consume, with the aim of minimizing negative impacts on the planet and future generations. This research aims to identify the importance of training and development programs in HRM in promoting sustainable consumption behavior. The research problem has been formulated with several questions, most notably: Do organizational training and development programs impact sustainable consumption behavior? The methodology of this study is a Systematic Literature Review of the importance of training and development programs in promoting sustainable consumption behavior. This research found that HRM can implement training and development programs focusing on sustainability to encourage sustainable behavior among employees. Such programs can include educating employees on sustainable consumption practices, promoting renewable energy sources, reducing waste, adopting a life cycle perspective, and accounting for equity dimensions.
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The situation of pálinka in Hungary. Problems and opportunities
75-87Views:359Distillation has centuries-old traditions in Hungary. A brief international outlook will also present the private distillation practices of the surrounding countries. Pálinka is a Hungaricum product produced by exclusively in commercial distilleries. In our country it is possible to make in subcontractdistilleries or at home, however, the product made in this way can only be called distillate and cannot be marketed. Over the last ten years, the legal framework governing the production of pálinka has changed very often, affecting the operators in the sector in different ways. Statistical information on each type of distilling will be presented, with special emphasis on the tax exemption period. Using known data from subcontract distilling, it was found that a HUF 52.1 billion deficit arose from the abolition of excise duty. The 0% excise tax resulted in a boom in subcontract distillation, with a neutral, partly negative effect on commercial distilling. The number of home distillers started to grow extraordinarily, and after the tax was restored, about 50,000 to 70,000 people disappeared from the ranks of subcontractors. Based on secondary sources, I have identified problems in the sector that need to be resolved. Furthermore, I outline the opportunities that are available but are not being used enough.
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Issues of self-management and improving organizational effectiveness among managers
78-89Views:198It is very difficult to measure the leadership excellence. Partly because the indicators of the organizational excellence are measuring mainly the effectiveness and there are not focusing on the “managerial value”. Scientist made a lot of effort in the last decades to measure the “managerial value”, trying to approach from many sides the managerial success. In our research we wanted to review the international practice, and, in the other hand we tried to conduct a situation survey among Hungarian leaders with the aim of exploring the value-creation processes and the managerial thinking and practice which are behind them. This article focuses on self-management solutions and operational management processes to improve the effectiveness of organizational processes. One of the goals of the survey was to discover and present the Hungarian management mindset, the self-management working methods and time-management behavior in the SME sector, all in the context of effectiveness and to enrich with this new information the scientific and market knowledge in the field. 148 managers were included in the study, partly due to the difficult availability, the low willingness to answer, and partly due to the confidential nature of the questions and the large size of the questionnaire. According to the answers we can see, that among the interviewed leaders are common the use of timemanagement applications, task-lists (with task prioritization) and accordingly, the next day’s activities are planned in the evenings. Correlated with the supervision of corporate processes, quality management systems, decision making systems and connection with employees (eg: site visits and daily meetings) receive a special attention. In the basic research we developed 3 clusters: “uncertain empathic”, “experienced strategist” and “ambitious purposeful”. Among them the members of the last cluster performed excellently based on their daily work practices and daily leadership habits. 86.36% of the organizations they lead are profitable and growing at a balanced rate (5% growth rate per year). If we look for the human factors behind the outstanding organizational effectiveness, the components of excellence, presumably this cluster offers solutions.
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The role and opportunities of short supply chains - with a focus on the organizations of Hajdú-Bihar county
45-58Views:280An important basis for the development of new rural development practices is the re-creation of supply chains. SFSCs (Short Food Supply Chain) are also capable of breaking the system of long, complex industrial chains. In the case of SFSCs, producer-consumer relations are “shortened” and redefined. After exploring the literature, I came to the conclusion that short supply chains are receiving more and more attention nowadays, and more and more forms of operation are appearing in Hungary as well. The promotion of local products has been helped by a number of programs in recent years. I have found that the international literature presents the operation of RELs in the form of a case study. The primary aim of the study was to search for international examples that can form a basis of comparison for the organizations operating in Hungary, especially in Hajdú-Bihar County. After that, I presented specific networks operating in Hajdú-Bihar county, four networks were identified. Finally, I discussed the results of a questionnaire survey between REL members. In summary, 80% of the respondents believe in the viability and economical operation of RELs. Most identified the development of information technology as an area of operation to be developed. Farmers would be willing to strengthen direct sales in order to make product production economical. 88% of producers sell in local, producer markets. They are basically satisfied with the functioning of the producer market and also consider it economically satisfactory to sell on the producer market.
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Examination of digital maturity in the client base of an accounting firm in Hajdú-Bihar county
15-26Views:76The development of small and medium-sized enterprises (SMEs) is of key importance from a national economic perspective, especially in the field of digitalization, as they play a significant role in Hungary's economy. The main objective of the research is to assess the digital maturity of SMEs within the client base of an accounting office in Hajdú-Bihar County, which can provide useful feedback to these businesses regarding their level of digital development. To date, no such study focusing specifically on businesses in the Hajdúság region has been published. The survey was conducted using a questionnaire based on the question set of the Digiméter research series, which evaluates businesses across six dimensions: digital presence, digital everyday operations, business management, sales and marketing, digital finance, and IT security. Based on the results, it can be stated that the companies participating in the study show a low level of digital maturity, with digital finance being the only area considered to be well-developed.
