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How Matching Algorithms Can Bring Forth More Effective Decisions in Situations with Information Deficiency
Issue: Volume 3, Issue 1-1, February 2015
Pages: 73-79
Received: 1 December 2014
Accepted: 15 December 2014
Published: 27 January 2015
DOI:
10.11648/j.sjbm.s.2015030101.22
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Abstract: University life is a chain of decisions. One of the most important parts of the decision as a process is the gathering and analysis of information, since the more information is available in case of a decision; the better one can define the options for the action, as well as their assessment. In most of the cases we simply don’t have all/enough information, hence we make suboptimal decisions. Even in these cases, matching theory can offer a stable, optimal solution. Matching algorithms are one of the most important mathematical as well as economical approaches of the 21. century. Numerous university problems might be solved with the help of them. Nevertheless, although we very often apply some kinds of matching algorithms for handling decision situations, we are seldom aware of these algorithms which are most of the time ineffective. Present paper aims at proving that the conscious use of matching algorithms is not only for mathematicians, since their inner logic is easy to capture, and with the help of them the efficiency of the decision and the satisfaction of those involved in the situation may largely be improved.
Abstract: University life is a chain of decisions. One of the most important parts of the decision as a process is the gathering and analysis of information, since the more information is available in case of a decision; the better one can define the options for the action, as well as their assessment. In most of the cases we simply don’t have all/enough inf...
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Data, Information, Knowledge in FUTÁR: Case Study of a Public Transportation Information System
László Tóth
,
Péter Szikora
Issue: Volume 3, Issue 1-1, February 2015
Pages: 66-72
Received: 30 November 2014
Accepted: 15 December 2014
Published: 19 January 2015
DOI:
10.11648/j.sjbm.s.2015030101.21
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Abstract: Data is not information, and even information is far from knowledge. On the one hand organizations tend to gather large amounts of data just for the sake of collecting it, without a clear plan, or even concept on of how to use them in the future generating information overload. On the other hand in most of the situations, besides having overload from irrelevant data, crucial information might be missing which makes optimal decision impossible. Present paper endeavors to introduce and analyze a system – namely that of the FUTÁR project – that is well equipped for collecting data and has a well-functioning inner logic to create information from the assembled data. What is lacking is the understanding of the possibilities this system is providing to its users, and the realization of ideas – the application of knowledge – for which it has been established.
Abstract: Data is not information, and even information is far from knowledge. On the one hand organizations tend to gather large amounts of data just for the sake of collecting it, without a clear plan, or even concept on of how to use them in the future generating information overload. On the other hand in most of the situations, besides having overload fr...
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Do We Develop for the Sake of Development? Or What Kind of Training Methods do Leaders Prefer Today
Éva Fenyvesi
,
Judit Kárpátiné Daróczi
,
Judit Vágány
Issue: Volume 3, Issue 1-1, February 2015
Pages: 59-65
Received: 27 November 2014
Accepted: 30 December 2014
Published: 10 January 2015
DOI:
10.11648/j.sjbm.s.2015030101.20
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Abstract: The key to the success of any business is knowledge. This statement is more emphatic today than at any other times. In the knowledge economy of the developed world, the role of the human factor is more valuable because the members of organizations can capitalize on the advantages of synergistic effect through knowledge sharing. Synergistic effect is also manifest in the growing profits of an enterprise, and, therefore, it can also be considered as a method of enterprise development. Leaders play a key role in recognizing and encouraging opportunities to draw on knowledge sharing. In our research, primary and secondary data have been used to study outstanding opportunities of gaining and developing knowledge. Moreover, there is also a focus on the self-improvement practices relative to management skills, as well as management responses to change.
Abstract: The key to the success of any business is knowledge. This statement is more emphatic today than at any other times. In the knowledge economy of the developed world, the role of the human factor is more valuable because the members of organizations can capitalize on the advantages of synergistic effect through knowledge sharing. Synergistic effect i...
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The Co-Operation between a Private and a Public Company from the Perspective of Desirable Risk Allocation
Katalin Fülöp
,
Tibor Tatay
Issue: Volume 3, Issue 1-1, February 2015
Pages: 53-58
Received: 19 November 2014
Accepted: 19 December 2014
Published: 31 December 2014
DOI:
10.11648/j.sjbm.s.2015030101.19
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Abstract: Implicit and explicit risks implied in contracts are allocated optimally if the risk-taker is always the party who can manage risk at the lowest cost. This principle shall apply even if one of the parties work in the public sector, and the other in the private sector. As risk-attitude of contacting partners is of vital importance in risk-sharing, this paper reviews the key factors influencing risk attitude of governmental organizations and their leaders, government officials elected or appointed for a cycle, and business organizations and their managers. Factors resulting in non-optimized risk allocation are discussed in detail, for example, public sector bureaucrats elected for a cycle focus on outputs of great public interest and tend to discount targets to be realized after the election cycle, and therefore projects more risk appetite than previously assumed. In business organizations principal-agent relationship and lack of entrepreneurial orientation are key factors, whose significance increase in proportion to the size of business and make companies more risk-averse. Short-term contracts, partnership of small-scale businesses, or if there is too much at stake (e.g. a large value bids) for the scale of a company give less space for such distorting factors, and reduce the possibility of risk allocation detrimental to the public sector.
Abstract: Implicit and explicit risks implied in contracts are allocated optimally if the risk-taker is always the party who can manage risk at the lowest cost. This principle shall apply even if one of the parties work in the public sector, and the other in the private sector. As risk-attitude of contacting partners is of vital importance in risk-sharing, t...
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What is the Role of Higher Educational Institutions in Managing their Students’ Competencies?
Issue: Volume 3, Issue 1-1, February 2015
Pages: 46-52
Received: 1 December 2014
Accepted: 21 December 2014
Published: 30 December 2014
DOI:
10.11648/j.sjbm.s.2015030101.18
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Abstract: Although the mission of higher educational institutes is - besides producing new knowledge via original and applied researches - to educate (young) people and equip them with knowledge, information and skills in order to increase their employment opportunities, the number and relative ratio of those unemployed despite having higher than secondary education is constantly growing in Hungary. Only 42% of employers think that employees are ready for employment upon graduation and only half of the young graduates believe that their post-secondary studies have improved their employment opportunities [8]. What is more, traditional HEI are usually not designed to react to the ever-changing market where skills depreciate quickly since they cannot constantly adjust their curricula at the pace the changing industry would require them to. Present paper endeavours to look into the means and tools of how one of Hungary’s biggest universities tries to deliver knowledge to its students and research, identify and analyse the deficiencies of the current system from the students’ point of view. Preliminary results of an ongoing research is presented, where students of Óbuda University’s Keleti Faculty of Business and Management had to evaluate various methodologies’ - lectures, seminars, group work, and the internship along with participation on the Scientific Students’ Association’s Conference – on the basis of their efficiency in delivering knowledge and developing competencies.
Abstract: Although the mission of higher educational institutes is - besides producing new knowledge via original and applied researches - to educate (young) people and equip them with knowledge, information and skills in order to increase their employment opportunities, the number and relative ratio of those unemployed despite having higher than secondary e...
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Age of Cyber Crime and Culture of Security
Issue: Volume 3, Issue 1-1, February 2015
Pages: 39-45
Received: 30 November 2014
Accepted: 8 December 2014
Published: 30 December 2014
DOI:
10.11648/j.sjbm.s.2015030101.17
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Abstract: Entering into the “Information Age” brought us some new challenges. One of them is cyber crime and cyber warfare shooting upwards: instead of formal law which became a dead letter, nowadays club law dominates on the Network. How can enterprises and people manage their own security? I have been collecting several news of security incidents for fifteen years. Analysing this systematic collection some characteristic attributes of the new era can be identified: traditional definitions and concepts related to security do not work anymore. Both of technology and formal knowledge are necessary but not enough to survive. Organisations as well as individuals must (or have to) develop their own culture of security.
Abstract: Entering into the “Information Age” brought us some new challenges. One of them is cyber crime and cyber warfare shooting upwards: instead of formal law which became a dead letter, nowadays club law dominates on the Network. How can enterprises and people manage their own security? I have been collecting several news of security incidents for fifte...
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Far-East Secret: Knowledge Elements of Vietnamese Family Businesses Operating in Hungary
Ildikó Marosi
,
Thinh Duong Van
Issue: Volume 3, Issue 1-1, February 2015
Pages: 32-38
Received: 30 November 2014
Accepted: 9 December 2014
Published: 27 December 2014
DOI:
10.11648/j.sjbm.s.2015030101.16
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Abstract: The focus of our analyse is on the Vietnamese family businesses which are operating in Hungary. What type of assets did they have during the 2008 economic crisis? Which are the special characteristics, values, knowledge and experiences that helped them to develop in a foreign environment? These families and family businesses had to learn language, roles, rules, traditions, legislations etc. Ten family businesses were involved in our primary qualitative research and principal characteristics were identified which determine their knowledge management. They have two powns to survive: one is the ability for extremely quick learning new knowledge and flexible adaptation to the environment. The second one is the original (Vietnamese) value system of their families which provide a supporting background for these processes.
Abstract: The focus of our analyse is on the Vietnamese family businesses which are operating in Hungary. What type of assets did they have during the 2008 economic crisis? Which are the special characteristics, values, knowledge and experiences that helped them to develop in a foreign environment? These families and family businesses had to learn language, ...
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The Role of Ethics Communication and Ethics Training in Hungarian Large Companies
Krisztina Szegedi
,
Roland Szilágyi
Issue: Volume 3, Issue 1-1, February 2015
Pages: 25-31
Received: 29 November 2014
Accepted: 11 December 2014
Published: 27 December 2014
DOI:
10.11648/j.sjbm.s.2015030101.15
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Abstract: Operating with integrity is a key part of long term success for business. Companies can only successfully face the challenges of competitive market environments by accepting the imperatives of moral responsibility, both as individuals and as a Company. They can preserve their reputation only by irreproachable business conduct and full compliance with the Law and respecting their Code of Ethics. The article presents the characteristics of corporate ethics communication and ethics trainings raising awareness of ethics, after the overview of the international practice it concentrates on the sphere of large Hungarian companies. The research results shown are part of wide, empirical research. Based on the results suggestions have been made towards companies in order to improve ethical knowledge and awareness.
Abstract: Operating with integrity is a key part of long term success for business. Companies can only successfully face the challenges of competitive market environments by accepting the imperatives of moral responsibility, both as individuals and as a Company. They can preserve their reputation only by irreproachable business conduct and full compliance wi...
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Creating New Types of Business and Economic Indicators Using Big Data Technologies
Issue: Volume 3, Issue 1-1, February 2015
Pages: 18-24
Received: 7 November 2014
Accepted: 29 November 2014
Published: 27 December 2014
DOI:
10.11648/j.sjbm.s.2015030101.14
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Abstract: Today, every business is a data business. Data is available from internal and external sources about transactions, processes, customers, competitors, trends, technological changes, etc. The challenge is to create actionable information and useful knowledge for the company. If companies are not leveraging their data assets, then competitors will outperform them. Big data technologies can provide a very efficient tool for the discovery of knowledge hidden in the company and its environment. Creating company specific indicators by analyzing large datasets can lead to valuable insights and better decisions. Big data technologies can also provide new and faster methods to calculate economic indicators (GDP figures, tax revenue forecasts, etc.). It can help the work of economic policy makers by reducing the latency of data that allows for timely intervention if necessary. It can also create new, not yet available information.
Abstract: Today, every business is a data business. Data is available from internal and external sources about transactions, processes, customers, competitors, trends, technological changes, etc. The challenge is to create actionable information and useful knowledge for the company. If companies are not leveraging their data assets, then competitors will out...
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The Role of Knowledge in the Internationalization Process: A Research Study from the Czech Republic
Šárka Zapletalová
,
Andrea Bencsik
Issue: Volume 3, Issue 1-1, February 2015
Pages: 13-17
Received: 5 November 2014
Accepted: 7 November 2014
Published: 11 November 2014
DOI:
10.11648/j.sjbm.s.2015030101.13
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Abstract: The knowledge plays in the process of the internationalization of entrepreneurial activities key role. The lack of such knowledge is an important obstacle to the development of international operations and that the necessary knowledge can be acquired mainly through operations abroad. The objective of this paper is to present an overview of the role of the knowledge for internationalization process of the selected Czech firms. The internationalization of the entrepreneurial subjects has been researched using the method of questioning. Company age and international experience are significant factors influencing the knowledge of foreign markets in Czech companies. Based on the results of analysis the influence of knowledge level on the internationalization process of Czech companies is minimal.
Abstract: The knowledge plays in the process of the internationalization of entrepreneurial activities key role. The lack of such knowledge is an important obstacle to the development of international operations and that the necessary knowledge can be acquired mainly through operations abroad. The objective of this paper is to present an overview of the role...
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The Most Important Features of Organizational Behaviour during a Knowledge Management System Building
Andrea Bencsik
,
Sarka Zapletalova
Issue: Volume 3, Issue 1-1, February 2015
Pages: 8-12
Received: 30 October 2014
Accepted: 2 November 2014
Published: 6 November 2014
DOI:
10.11648/j.sjbm.s.2015030101.12
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Abstract: Creating a knowledge management system (KMS) is a popular goal in corporate strategies. Medium, large and multinational companies know and use the expression ‘knowledge management’ (KM) almost without exception, but what they mean by it is varied. In this study, our intention was to shed light on how large and multinational companies use a KMS in their everyday practice, if at all. Our aim was to present an overview of the practical application of KM systems in Hungarian companies to show the best methods which yield favourable results and to gather the most troublesome obstacles arising in the course of building a KMS. Fourty-three companies were invited to participate in our research. The interview – based investigation followed the logic of the well-known Probst model. The findings of this survey offer important assistance in building a KMS, repairing an existing system or applying new methods and tools. This paper summarizes the results of our research.
Abstract: Creating a knowledge management system (KMS) is a popular goal in corporate strategies. Medium, large and multinational companies know and use the expression ‘knowledge management’ (KM) almost without exception, but what they mean by it is varied. In this study, our intention was to shed light on how large and multinational companies use a KMS in t...
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The Practice of Successful Mentoring in the Dimension of Hungarian Organizations
Andrea Bencsik
,
Timea Juhasz
Issue: Volume 3, Issue 1-1, February 2015
Pages: 1-7
Received: 6 October 2014
Accepted: 10 October 2014
Published: 20 October 2014
DOI:
10.11648/j.sjbm.s.2015030101.11
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Abstract: Positive mentoring practice being an example to be followed is one form of knowledge-management, therefore it matters a lot what mentoring protocol is being fulfilled within the organizations. The features of a successful mentoring process have been examined this year within the framework of a qualitative research in light of the practice of Hungarian organizations. The results of the research show that apart from the corporate culture built on confidence, the participants’ motivation for knowledge and for learning can also have significant effect on the positive outcome of the process as well as the way how mentoring can consistently fit into the system of corporate knowledge-management.
Abstract: Positive mentoring practice being an example to be followed is one form of knowledge-management, therefore it matters a lot what mentoring protocol is being fulfilled within the organizations. The features of a successful mentoring process have been examined this year within the framework of a qualitative research in light of the practice of Hungar...
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