A láthatatlan kéz – szemelvények egy metafora történetéből (The invisible hand - extracts from the history of a metaphor)

A láthatatlan kéz Adam Smith nyomán a közgazdaságtan legismertebb metaforája lett, de jelentősége és értelmezése máig megosztja a közgazdászokat és eszmetörténészeket. Az interpretációk skálája rendkívül széles: mértékadó közgazdászok szerint ez a közgazdaságtan alapeszméje, míg mások Smith ironikus tréfájának vélik. A tanulmány áttekinti a láthatatlan kéz Smith előtti használatát teológiai, politikai és irodalmi szövegekben és a hozzájuk kapcsolódó interpretációkat. Ezt követően bemutatja, hogyan alkalmazta Smith a nevezetes kifejezést a merkantilista politika ironikus és paradox kritikájaként, és miként került a 19. század végétől e metafora a Smith-olvasatokban központi helyre, majd miként vált kérdésessé ez a felfogás a 2008-as válság nyomán. ____ Adam Smith's phrase the invisible hand has become the best-known metaphor in economics, yet both its interpretation and its relevance are hotly debated by economists and intellectual historians. The range of opinions is wide: several leading economists view it as the founding idea in economics and social studies, some historians see it as an ironic jest by Smith. The study surveys the different uses of the metaphor in theological, political and literary texts before Smith and reconstructs the "invisible hand" passage in The Wealth of Nations as an ironic and paradoxical critique of mercantilist policy. A vast literature has emerged since the late 19th century treating the metaphor in various way, ranging from the description and justification of free markets to the claim that it is a purely fictitious mechanism. The critical approach to it has become stronger since the great recession of 2008.

The Impact of Proactive Strategies on Market Performance in Economic Downturn: the Case of Hungary

Recession in 2008/09 affected almost all the European countries seriously but some of them were hurt to greater extent. The timing of economic downturns can never be appropriate but it found Hungary at the time when it was in a vulnerable condition leading to a prolong struggle to find the way out. However, each company’s own experience and approach in crisis can differ from what the whole economy would explain. This study aims to contribute to the emerging research field regarding the concept of proactive marketing. We investigated the relationship between approach to crisis as an opportunity and market performance. Based on a survey of 173 companies we demonstrated that proactive marketing can lead to better performance but larger companies have the advantage of implementing this strategy more successfully.

Átalakuló emberierőforrás-menedzsment a multinacionális vállalatok magyarországi leányvállalatainál 2008–2009 (Changing HR-practices of the Hungarian subsidiaries of multinational enterprises, 2008-2009)

A Pécsi Tudományegyetem Közgazdaságtudományi Karán sok éve folyó HR-kutatás legújabb eredménye ez a beszámoló, amely 74 Magyarországon is működő multinacionális vállalat helyi leányvállalatának HR-gyakorlatát vizsgálja. Az adatfelvétel (többségében helyszíni interjú) ideje 2010. április-november. Így a megállapítások már a válságból való kilábalás időszakára is vonatkoznak: mit és hogyan tettek a HR-szervezetek, valamint a vonalbeli vezetők a HR-munka hatékonyságának növelésére. A felállított 5, ezzel kapcsolatos hipotézist a szerzők vizsgálataik alapján részben igazolni tudták. A fő megállapítás: a nemzetközi vállalatok – minimális létszámcsökkentéssel – kitartottak Magyarország mellett, megerősítették a helyi leányvállalatoknál folyó HR-munkát. A kutatás nemzetközi keretekben jelenleg is folytatódik: 6 országban készülnek tanulmányok a helyi hasonló vállalati körre, a magyarországiéval azonos HR-vizsgálati szempontok alapján. _________ This article is the result of the several year long HR-research conducted at the Faculty of Business and Management of the University of Pécs, and it analyzes the HR-practices of the Hungarian subsidiaries of 74 multinational enterprises. Data collection (mostly interviews at the subsidiaries) took place during the period of April-November 2010. Hence, the findings also relate to the period of the recovery from the recession: what and how the HR-units/ and line managers did to increase the efficiency of the HR work. The 5 hypotheses in relation with this, could partially be verified by the research of the authors of this paper. The main finding is that the multinational enterprises – with a slight decrease of headcount – stood beside Hungary and strengthened the HR-activities at their subsidiaries. Research is still being continued internationally: studies are being prepared in 6 countries on similar groups of local companies, by using the same HR-research aspects as those used in Hungary.

Foglalkoztatás-bővítési kilátások és akadályok az üzleti szférában(Employment expansion prospects and obstacles in the business sphere)

Empirikus vizsgálatok szerint a vállalatok fejlesztési törekvéseit Magyarországon is elsősorban a piaci kilátások határozzák meg, a finanszírozási körülmények szerepe jóval gyengébb. A beruházások és innovációk végrehajtása elsősorban a műszaki végzettségűek iránti keresletet növelheti, a szakképzetlen dolgozók körében viszont gyakran leépítésekre vezet. A vállalatok igénye és az állást keresők kompetenciái azonban nemcsak a szakmastruktúrában térnek el. A korábban megvalósított fejlesztéseknek a válság idején munkahelymegtartó szerepe volt. A jövőbeni fejlesztések munkaerőigényének kielégítésében mind az üzleti szektor szereplőinek, mind a szakpolitikáknak fontos tennivalói vannak. _______ According to recent empirical research development efforts of companies in Hungary are primarily determined by the market outlook, the role of financing conditions is much weaker. Implementation of investments and innovation can increase in first row the demand for technical professionals and often causes dismissals in unskilled labour. The demand of companies and competences of job seekers diverge not only in the professional structure. Earlier fulfilled development had workplace keeping role during the recession. Both actors of business sector and policies have important tasks to do in satisfying labour demand of future developments.

Challenges the finance profession has been facing following the 2008-2009. A multi-country research

In the successful strategic management of the modern companies each function plays their specific role. While today’s businesses in many ways are different from their ancestors, the key fundamentals are derived from the same roots. Their main purpose of existence is to serve the needs of their shareholders and stakeholders by creating value (Pike et al., 1993). To achieve this effectively and efficiently the various functions need to work in close cooperation with each other. The global crisis, starting in 2008, proved that volatility is higher for the financial markets and the ordinary businesses that have been anticipated before. As the recession started as a financial crisis many people started to blame – amongst others – banks and financial institutions for excessive risk taking and taking short profits ahead of long term sustainable growth. Accordingly the lost confidence in the financial institutions has taken a toll on the reputation of other Finance professionals such as accountants, book keepers, treasury, tax people and others. The finance function’s strategic importance is linked to its ability to help interpreting the business performance and provide transparency. In order to restore the trust the finance profession is now facing one of the biggest challenges of its history, the need to reinvent itself. This paper presents the findings of a recent international research conducted in the United Kingdom, France, Hungary and Poland interviewing 169 executives of the business sector plus the review of 237 job descriptions of finance professionals in order to understand the challenges of the modern finance function. The findings of the study could provide relevant answers and help to overcome a very current problem that Finance is facing today, how to rebuild reputation and to stay a trusted partner and enabler for long term business strategy.

Az árak észlelése és értékelése(Perception and Evaluation of Prices)

A 2008-ban kezdődött gazdasági válság a korábbiaknál is fontosabbá tette az árakat a vásárlók számára. Azt eddig is mindenki tudta, hogy az árak alapvetően befolyásolják a fogyasztók vásárlási döntését. Arra a kérdésre azonban, hogy miképpen, már nem mindig tudunk pontos választ adni. A közgazdaságtan szerint az árak csökkenése növeli a fogyasztók vásárlási hajlandóságát és fordítva, az árak emelkedése kisebbíti azt. A valóság azonban nem mindig írható le közgazdaságtani fogalmakkal vagy matematikai képletekkel. _______ Since the beginning of the global economic recession prices have become more and more important for sellers and buyers. To study the role of prices in consumer behaviour is a rather new field of marketing research. The paper starts out from the fact that prices can be regarded as a multidimensional stimulus, which influences the purchasing decision of consumers. The study describes the process how, in this multidimensional pricing environment, consumers get from the perception through the evaluation of prices to the purchasing decision. According to the model constructed by the author the perception of prices depends on the presentation of prices and on the willingness and ability of people to numerically perceive and evaluate the different presentations of prices. In the process how consumers get from the perceived prices through the excepted prices to the purchasing decision the perceived value plays the most important role. The perceived value is motivated by the internal and external reference prices and the perceived reference value. The paper comes to the conclusion that in recession and post recession times, companies are compelled to understand these processes better to be able to set their price points according to the changing buyers behaviour.

Lender Liability: The Legal and Management Effects on the Hospitality Industry

With the savings and loan crisis and the tail end of a recession at hand, the '90s are bound to be a difficult decade for the financing of hospitality operations through borrowing from commercial lenders. The authors discuss one of the least known dangers associated with borrowing, lender liability. The issue is discussed from both a legal and managerial perspective.

Overcoming The Impotency Of Marketing

In his dialogue titled - Overcoming The Impotency Of Marketing - K. Michael Haywood, Assistant Professor, School of Hotel and Food Administration, University of Guelph, originally reveals: “Many accommodation businesses have discovered that their marketing activities are becoming increasingly impotent. To overcome this evolutionary stage in the life cycle of marketing, this article outlines six principles that will re-establish marketing's vitality.” “The opinion of general managers and senior marketing, financial, and food and beverage managers is that the marketing is not producing the results it once did and is not working as it should,” Haywood advises. Haywood points to price as the primary component hospitality managers use to favor/adjust their marketability. Although this is an effective tool, the practice can also erode profitability and margin he says. Haywood also points at recession as a major factor in exposing the failures of marketing plans. He adds that the hotel manager cannot afford to let this rationale go unchallenged; managers must take measures to mitigate circumstances that they might not have any control over. Managers must attempt to maintain profitability. “In many hotels, large corporate accounts or convention business generates a significant proportion of occupancy. Often these big buyers dictate their terms to the hotels, especially the price they are prepared to pay and the service they expect,” Haywood warns. This dynamic is just another significant pitfall that challenges marketing strategy. The savvy marketing technician must be aware of changes that occur in his or her marketplace, Haywood stresses. He offers three specific, real changes, which should be responded to. “To cope with the problems and uncertainties of the hotel business during the remainder of the decade, six components need to be developed if marketing impotency is to be overcome,” says Haywood in outlining his six-step approach to the problem. Additionally, forward thinking cannot be over-emphasized. “A high market share is helpful in general, but an even more crucial factor is careful consideration of the market sectors in which the company wants to operate,” your author advises. “Taking tactical initiatives is essential. Successful hotels act; unsuccessful ones react. The less successful marketing operations tend to be a hive of frantic activity. Fire-fighting is the normal way of life in such organizations, Haywood observes. “By contrast, successful firms plan and execute their tactical marketing activity with careful timing and precision so as to create the maximum impact,” he extends in describing his fruitful marketing arabesque.

Maintaining your loyal customers during hard times: An observation from the gaming industry

The Las Vegas gaming arena was one of the most severely affected consumeroriented industries to be impacted by the recent economic recession. The purpose of this study was to investigate the impact of relational benefits on customers’ behavioral loyalty in the Las Vegas gaming industry. This study particularly took a comparative approach and examined the relational impact during the economic recession and after the economic recession. Secondary data was obtained and regression analysis was performed to test the study hypothesis. The findings of this study revealed the economic recession impact on the Las Vegas gaming industry, as well as valuable insights for effective utilization of relational benefits to increase customer loyalty.

Hotel Managers Identify Ethical Problems: A Survey of their Concerns

This study identified and examined the concerns of hotel general managers regarding ethics in the hospitality industry. Thirty-five managers were interviewed during and immediately following the economic recession to determine which ethical issues in the hotel industry and at their own properties concerned them the most. Results showed that more people and organizations attempted to renegotiate hotel rates, which actions, in turn, led to some lapses in ethical behavior. Managers said that because of the economic downturn, they felt pressure from both private owners and corporate headquarters. They also said a lack of work ethic, low motivation, and low pay caused many workers to underperform in ways that raised ethical issues. Managers also mentioned diversity issues and theft by both guests and employees as ethical issues of concern, and shared stories about their experiences.

A Preliminary Evaluation of the Millennial Shopping Experience: Preferences and Plateaus

This study identified and examined the concerns of hotel general managers regarding ethics in the hospitality industry. Thirty-five managers were interviewed during and immediately following the economic recession to determine which ethical issues in the hotel industry and at their own properties concerned them the most. Results showed that more people and organizations attempted to renegotiate hotel rates, which actions, in turn, led to some lapses in ethical behavior. Managers said that because of the economic downturn, they felt pressure from both private owners and corporate headquarters. They also said a lack of work ethic, low motivation, and low pay caused many workers to underperform in ways that raised ethical issues. Managers also mentioned diversity issues and theft by both guests and employees as ethical issues of concern, and shared stories about their experiences.

Women-led community development organizations (CDOs) in Miami-Dade County: A model of community development efforts impacting the economic security of women

Recent studies on the economic status of women in Miami-Dade County (MDC) reveal an alarming rate of economic insecurity and significant obstacles for women to achieve economic security. Consistent barriers to women's economic security affect not only the health and wellbeing of women and their families, but also economic prospects for the community. A key study reveals in Miami-Dade County, "Thirty-nine percent of single female-headed families with at least one child are living at or below the federal poverty level" and "over half of working women do not earn adequate income to cover their basic necessities" (Brion 2009, 1). Moreover, conventional measures of poverty do not adequately capture women's struggles to support themselves and their families, nor do they document the numbers of women seeking basic self-sufficiency. Even though there is lack of accurate data on women in the county, which is a critical problem, there is also a dearth of social science research on existing efforts to enhance women's economic security in Miami-Dade County. My research contributes to closing the information gap by examining the characteristics and strategies of women-led community development organizations (CDOs) in MDC, working to address women's economic insecurity. The research is informed by a framework developed by Marilyn Gittell, who pioneered an approach to study women-led CDOs in the United States. On the basis of research in nine U.S. cities, she concluded that women-led groups increased community participation and "by creating community networks and civic action, they represent a model for community development efforts" (Gittell, et al. 2000, 123). My study documents the strategies and networks of women-led CDOs in MDC that prioritize women's economic security. Their strategies are especially important during these times of economic recession and government reductions in funding towards social services. The focus of the research is women-led CDOs that work to improve social services access, economic opportunity, civic participation and capacity, and women's rights. Although many women-led CDOs prioritize building social infrastructures that promote change, inequalities in economic and political status for women without economic security remain a challenge (Young 2004). My research supports previous studies by Gittell, et al., finding that women-led CDOs in Miami-Dade County have key characteristics of a model of community development efforts that use networking and collaboration to strengthen their broad, integrated approach. The resulting community partnerships, coupled with participation by constituents in the development process, build a foundation to influence policy decisions for social change. In addition, my findings show that women-led CDOs in Miami-Dade County have a major focus on alleviating poverty and economic insecurity, particularly that of women. Finally, it was found that a majority of the five organizations network transnationally, using lessons learned to inform their work of expanding the agency of their constituents and placing the economic empowerment of women as central in the process of family and community development.

Compositional Effects of Sea-Level Rise in a Patchy Landscape: The Dynamics of Tree Islands in the Southeastern Coastal Everglades

The landscape structure of emergent wetlands in undeveloped portions of the southeastern coastal Everglades is comprised of two distinct components: scattered forest fragments, or tree islands, surrounded by a low matrix of marsh or shrub-dominated vegetation. Changes in the matrix, including the inland transgression of salt-tolerant mangroves and the recession of sawgrass marshes, have been attributed to the combination of sea level rise and reductions in fresh water supply. In this study we examined concurrent changes in the composition of the region’s tree islands over a period of almost three decades. No trend in species composition toward more salt-tolerant trees was observed anywhere, but species characteristic of freshwater swamps increased in forests in which fresh water supply was augmented. Tree islands in the coastal Everglades appear to be buffered from some of the short term effects of salt water intrusion, due to their ability to build soils above the surface of the surrounding wetlands, thus maintaining mesophytic conditions. However, the apparent resistance of tree islands to changes associated with sea level rise is likely to be a temporary stage, as continued salt water intrusion will eventually overwhelm the forests’ capacity to maintain fresh water in the rooting zone.

Estudo Clínico Longitudinal Comparativo da Condição Periodontal de Pilares Diretos de Próteses Parciais Removíveis Dento- Suportada e Dento-Muco-Suportada

Objective: To perform a long-term clinical evaluation of the periodontium of removable parti al denture (RPD) wearers, comparing the direct pillar teeth of tooth-supported and toothtissue supported RPDs. Method: Fifty patients with mean age of 45 years were enrolled in the study. The individuals were examined by a single examiner at the moment of denture installation and after 3, 6, 9 and 12 months. In each exam, the following parameters were verified: gingival recession (GR), probing depth (PD), plaque index (PI), gingival index (GI) e amount kerati nized mucosa (KM). All patients received oral hygiene instructions and prophylaxis and, when necessary, scaling and root planing. An analysis from the confidence interval was done to evaluate the endpoints regarding the type of denture in the direct pillar group. Results: The tooth-tissue supported dentures showed significantly higher GR, GI and PI values, and significantly lower KM values. Over time, neither of the types of denture presented statistically significant difference from the initial to the final examination for the parameters GR, PD, KM and GI, while the PI was significant only for the tooth-supported dentures. Conclusion: Pillar teeth adjacent to free ends presented a less favorable periodontal conditi on than the pillar teeth adjacent to intercalated spaces. However, the use of RPD did not aggravate the initial condition, after a follow-up period of 12 months. The findings of the study indicate that, within 1 year, there were no significant differences between the direct pillars of the toothsupported and tooth-ti ssue supported dentures, and suggest the need of professional follow up for a longer period.