THE BUSINESS PERFORMANCE AND COMPETITIVENESS OF THE LARGE ENTERPRISES OPERATING IN HUNGARY

Duduk Sapine Ildiko () and Fenyves Veronika ()

Annals of Faculty of Economics, 2017, vol. 1, issue 1, 599-608

Abstract: The study examined the business performance and competitiveness of the large enterprises operating in Hungary. The company competitiveness research is a topic relevant and can be considered as current economic problem, because the company stakeholders are meeting with the fact on a daily basis that the power and intensity of the competition is constantly growing. Hungarian and foreign analysts and researchers are continually analysing this topic, which also verifies the actuality of the competitiveness surveys. In recent years numerous bank and large corporation bankruptcy and financial and economic crisis also pointed out to the danger and power of the speculation. Therefore it became clear for the stakeholders that they should have reliable and real information about the business performance and competitiveness of the companies. This information is the financial statements of the corporations, which are prepared by accounting professionals and disclosed to the public in accordance with legal provisions. The company stakeholders should continually monitor the changes in the economic environment, in view of available creditable information they should find correct answers to these changes in the different competition, and adapt in the most appropriate way. The large enterprises performances are significant in the national economy level in the gross value added production, in export ensuring and in employment. Their economy is very important, and the knowledge and examination their business performance. The forthcoming changes in the global economy, the system change and the EU accession have been constantly challenging the companies; they force them to face with competition in local and global levels, therefore the creation, preservation and growth of competitiveness became a basic objective for every corporation. The result of every company activity appears in the business performance, which can be analysed with financial indicators, and in comparison with the competitors’ results characteristics and peculiarities of their competitiveness can be revealed.

Keywords: corporate economy; business performance; competitiveness; globalization (search for similar items in EconPapers)
JEL-codes: F40 I2 L25 M11 M21 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2017:i:1:p:599-608

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