In addition to credit, market and liquidity risk, measuring and managing operational risk (risk associated with people, systems, processes and external events) is a great challenge for banks. In 2010, around HUF 35 billion in operational risk losses were reported in the banking sector overall,...

The capital adequacy regulation which came into force on 1 January 2008 for the Hungarian banking sector, in line with the Basel II directives and generally applied in the European Union, brought the novelty of distinct management of operational risk. Operational risk is defined as the risk of...

Nowadays financial institutions due to regulation and internal motivations care more intensively on their risks. Besides previously dominating market and credit risk new trend is to handle operational risk systematically. Operational risk is the risk of loss resulting from inadequate or failed...

In this paper, the authors give an introduction to the four most important ideologies impacting culture and the way of thinking in China today, i.e. Confucianism, Daoism, Legalism and Buddhism. First, the authors provide an overview of the historical period where these ideologies originate from,...

Lean manufacturing (LM) is currently enjoying its second heyday. Companies in several industries are implementing leanpractices to keep pace with the competition and achieve better results. In this article, we will concentrate on how companies can improve their inventoryturnover performance...

The links between operational practices and performance are well studied in the literature, both theoretically and empirically. However, mostly internal factors are inspected more closely as the basis of operational performance, even if the impact of external, environmental factors is often...

The aim of our research is to investigate a company’s purchasing and manufacturing competitive priorities jointly in order to uncover any relationships between them and also their effect on the supply chain tools implemented by the company. We assume that the supplier selection criteria of the...

In the last few years, the management literature has become noisy with Industry 4.0 (I4.0). Although several concepts and typologies intend to make the phenomenon more understandable, these endeavours generally focus on technological aspects or specific issues. Therefore, integrated approaches...

Ethics is a critical element of business relationship. This is often narrowed down to corruption in the context of purchasing management, however it is a much more complex problem. Since the large scale research projects of the 1990s only a few studies have been devoted to investigate this...