FOREIGN DIRECT INVESTMENT AND NATURAL RESOURCES OF RUSSIA (BEFORE COVID-19)

Many studies show that foreign investment is one of the most important sources for smart money, and from a productivity perspective, foreign direct investment is the most beneficial. Productivity tends to grow due to innovations brought by foreign investment in both manufacturing enterprises and business structure. An additional benefit of foreign direct investment is associated with an increase in the productivity of only the companies receiving these investments, but also of other firms in the same country. As international experience shows, investment is one of the most important factors in the economic prosperity of any country. Despite the importance of foreign direct investment, the issue of attracting them in recent years in Russia has practically dropped out of the agenda as irrelevant. The drop is usually attributed to geopolitical risks, primarily sanctions. However, domestic problems that restrict foreign investment play no less important role than external restrictions. These include unjustified criminal prosecution of investors, and direct restrictions on the participation of foreign investors in an increasing number of strategic assets, and the unpredictability of domestic economic policy. This study shows that for the countries such as Russia that are abundant with natural resources, foreign direct investment highly related to the latter. Moreover, FDI in both directions is connected to natural resources of the country. Outward FDI mainly is carried out by Russian MNCs in energy sector whereas foreign investors’ interest is focused on mining and quarrying. However, natural resources are highly protected by the state.
2023. SPECIAL ISSUE 2 60-65
DOI: 10.24387/CI.2023.SPECIAL ISSUE 2.11

TRANSFORMING BUSINESS OPERATIONS WITH LARGE LANGUAGE MODELS: USE CASES AND STRATEGIES

Large language model based artificial intelligence has the potential to transform businesses operations. Currently the most common use cases are automating routine tasks, workflow assistance, supplementing education, generating summaries and supporting various marketing tasks. By improving data processing, large language models can greatly enhance information systems, allowing for better decision-making and faster response times. Improved data utilisation enhances management control, enabling companies to better manage their resources and achieve their strategic goals.
2023. SPECIAL ISSUE 2 56-59
DOI: 10.24387/CI.2023.SPECIAL ISSUE 2.10

A DECADE OF CONTROLLING AND FUTURE DATA-BASED OPPORTUNITIES IN THE HUNGARIAN PUBLIC SECTOR CONTROLLED INPATIENT HEALTHCARE INSTITUTIONS

The last decade has seen a paradigm shift in the operation and management of public health institutions. Only a controlling system adapting to the changing information needs of management accounting can keep pace with the dynamics of the changing legal environment. Following the pandemic, the ability to accurately identify the costs of each task is a precondition for operations adapting to the territorial development of health care. This study describes the development and the main elements of the tool system for calculating and accounting for the costs of a system of tasks to support the new requirements. Readers will get to know the current situation of the sector and gain insight into the main direction of future development, primarily from the processing of materials based on contemporary literature, domestic and European legal sources, as well as specifications related to professional healthcare methodology.
2023. SPECIAL ISSUE 2 51-55
DOI: 10.24387/CI.2023.SPECIAL ISSUE 2.9

DO DEVELOPING FINANCIAL SERVICES AFFECT CORRUPTION?

The study examines the relationship between the perception of corruption and financial inclusion, that is, the prevalence and use of modern financial services. The authors use Transparency International’s corruption index and the World Bank’s Global Findex database of financial inclusion. Based on the time series data of Hungary and Mexico between 2009-2022, statistical methods are used to examine the evolution of performance. First, they compare data by geographic region. The countries are then classified into clusters, and then the results of Mexico and Hungary are analysed. Based on the results, the authors did not find a direct correlation between the financial culture and the reduced perception of the severity of the corruption problem in the examined period.
2023. SPECIAL ISSUE 2 47-50
DOI: 10.24387/CI.2023.SPECIAL ISSUE 2.8

INTERNATIONALIZATION AND HUMAN RESOURCE DIVERSITY RETENTION MANAGEMENT STRATEGIES: A LITERATURE REVIEW

The rising number of international students and staff working globally in the current decade can be attributed to the various internationalization strategies that various public and private employers, have put in place to achieve globalization goals. The presence of international human resource capital on the other hand in the global human resource sector is a significant indicator that retention management strategies are being practiced by employers across the board. During their study period in foreign universities, most international students engage in part-time jobs which retain them after their studies through a work permit strategy among others. This review sought to discover and review the retention management strategies that employers utilized in managing and retaining the international human resource capital often brought to their disposal by higher education. It will contribute to the existing body of knowledge on Internationalization and human resource management retention. This review involved relevant scholarly articles on internationalization, employability, and diversity retention management. The outcome recommends the provision of; a robust and effective selection and hiring process, a safe and conducive job environment, full support from top management, humane treatment, collaboration, cultivation of a multicultural atmosphere, training and, development, financial incentives, and benefits, job enrichment initiatives, career development, equal access to promotion opportunities, flexible work opportunities, performance appraisals, and job evaluations, equal opportunities, opportunities to explore side jobs unlimited access to family-friendly benefits to all the multicultural staff.
2023. SPECIAL ISSUE 2 33-40
DOI: 10.24387/CI.2023.SPECIAL ISSUE 2.6

MANAGERIAL PERCEPTIONS OF THE IMPLEMENTATION OF INDUSTRY 4.0 IN HUNGARY

The purpose of the study is the presentation and examination of the views and perceptions on the implementation of Industry 4.0 processes and mechanisms in Hungary. The qualitative research attempts to explore 1) how managers deal with information regarding Industry 4.0, and how the information assists them in the introduction of the elements of the Industry 4.0. 2) what are the implementation and hindering factors of Industry 4.0 tools within the framework of SMEs. 3) how managerial motivations and attitudes related to Industry 4.0 influence the introduction of the topic within the company. In order to answer the research questions, we conducted a total of 8 semi-structured interviews in the spring of 2022. Due to the small number of items, our research results cannot be generalized, they are only valid for the test sample. The following answers can be given to our research questions: a, domestic companies primarily acquire information about Industry 4.0 at Hungarian professional events, workshops, and internet portals; the implementation of industry 4.0 is mostly hindered by the lack of financial resources; the leader must be fundamentally open-minded to both professional innovations and technological changes.
2023. SPECIAL ISSUE 2 27-32
DOI: 10.24387/CI.2023.SPECIAL ISSUE 2.5

FAILURE OF PROJECTS, CAUSES OF FAILURE

The study examines the reasons for the project’s failure, supplemented by the processing of the literature related to the topic, highlighting the project’s success factors and the project’s success criteria. Project implementation has become very popular in recent years. In addition to IT, organizational development and research and development (R&D) projects, the number of traditional investment projects also increased. Unfortunately, the number of failed projects has also increased along with the growing number of projects. There are various reasons for this.
2023. SPECIAL ISSUE 2 20-26
DOI: 10.24387/CI.2023.SPECIAL ISSUE 2.4

RESEARCH OF BUYING HABITS OF PRIVATE LABEL GOODS IN THE FMCG MARKET

Changes in private label purchasing behavior in the FMCG market can be tracked domestically. The literature review and secondary research was carried out by comparative analysis of related publications of domestic and foreign authors. As primary research, we used observations as descriptive research, focus group interviews as qualitative research, and online questionnaires as quantitative research. Qualitative research shows that women and larger households purchase more private label products. Based on our quantitative research, there is no evidence that women and men differ in their preferences for retail or manufacturer brands. We only found significant gender differences in perceptions of the importance of private label product packaging. Households with larger household sizes spend only slightly more on private label goods. Based on the primary research, we can in no way claim that private label products are of inferior quality to manufacturer brand products.
2023. SPECIAL ISSUE 2 14-19
DOI: 10.24387/CI.2023.SPECIAL ISSUE 2.3

PERFORMANCE FACTORS IN THE HOSPITALITY SECTOR IN AUSTRIA

In most countries of Europe, but in terms of the research target area, – Austria – it can definitely be stated that the lack of skilled labor is a current and not negligible problem. Based on the experience of the past years, it is increasingly difficult to find a reliable, loyal employee who performs his profession at an appropriate level. In the case of foreign workers, inadequate knowledge of the German language causes additional difficulties for both employees and employers. My goal is to define a performance measurement system for manual workers, during which manual workers will be able to give the best of their knowledge, exceed expectations, and also become interested in the implementation of the employer’s vision and business plans, so that their personal development is also ensured. This results in a cooperation during which the organization will be able to achieve the greatest possible efficiency with the existing number of employees. This alleviates the ever-increasing shortage of skilled labor.
2023. SPECIAL ISSUE 2 9-13
DOI: 10.24387/CI.2023.SPECIAL ISSUE 2.2

TECHNOLOGICAL INNOVATION AND ECONOMIC GROWTH – FOCUS ON ENVIRONMENTAL PRESSURES

The article presents the relationship between economic growth and environmental pressures, highlighting the role and importance of innovation. Following a comprehensive literature review, it is demonstrated through international practice that an environmentally responsive innovation ecosystem can effectively support both economic growth and sustainable development.
2023. SPECIAL ISSUE 2 2-8
DOI: 10.24387/CI.2023.SPECIAL ISSUE 2.1