The future belongs to those who are clever and brave enough to make the right decisions today and also act upon them now. The reason is that all actions have time lags, with other words it takes a considerable time before we can see the results of our today’s decisions. So the future is...

Recently there have been debates about whether the Hungarian economy could end up in a so-called middle-income trap in the near future. Some argue this risk is on the rise. Others focus more on whether this threat is even real and how it could be avoided if indeed it is. What do we mean by...

In our article we have analysed the problem, how can the small enterprises (SME-s) survive in the shadow of the transnational companies (TNCs). Besides analysing the historical process of globalization, and its latest form, the 'neo-globalization', we were mainly focusing on wage levels. Local...

The article examines the changes in the contents of the term competitiveness, in particular the new requirements evolving due to the rapid technological changes caused by the Fourth Industrial Revolution. Various levels of competitiveness are distinguished, and it is explained how good...

The aim of this article is to present the changes in the literature and practice of competitiveness, pointing out that a distinction must be made between competitiveness at the firm level and competitiveness at the national level, both in terms of objectives and methods. On the other hand, it...

Introduction The Hungarian economic reform in 1968 was a departure from the centralised, autocratic economic and political system which existed prior to that time. In the old system, those at the different levels of the power structure were absolutely self‐confident about their ability and...

Knowledge is the currency for any nation as it can be used for achieving sustainable development and competitiveness. Knowledge has to be created, maintained and nurtured, in other words, managed. Knowledge management is a well-known practice for businesses, but it is less elaborated as theory...

In the rapidly changing, increasingly uncertain environment the quality of leadership will be the key to business long-term success. The focus will be on the so-called soft skills: humanity, cooperation, social responsibilitiy, ethical behaviour, flexibility, conflict handling and trust...