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American students learn about Hungarian successes

14th October 2010

What is common in the Hungarian telecommunication company with the longest history, the manufacturer of electronics with the most famous history in Hungary, an American investment company, manufacturer of buses and a prosperous Hungarian IT firm? The MBA students of the University of Central Florida (UCF) considered the successes of these companies, an example, a model. In order to have a personal experience with these companies, a group of 28 students and professors visited Hungary. We met them at one of the stops of their trip, to ask them about their feelings and thoughts.

“Hungary has a huge potential. Small country with so many talented people.”

“Exciting period is coming for Hungary, even if we know that tough times are passing by. Things are changing quickly and a new generation, with new ideas is coming up.”

„Our goal is the introduction into local business practices and global strategies used by companies operating in this area. We cooperate with governmental organizations, traditional manufacturers or IT companies, designing a schedule that is relevant for that particular destination.”

– answers Viktoria Kish, when we ask, why does she think that Hungary is different among the other countries in the region.

– completes her answer. The founder and owner of the ISP (International Student Programs), the organization that prepared the whole trip, is half Hungarian by her father's side, which explains why Hungary is not just a simple destination. The organization established in 1999, brings MBA students and MBA executive students to develop business hubs all around the world, following a specially designed academic schedule.

- continues Ms. Kish. The word “student” could be confusing at first, as many members of the group are in executive positions in large American corporations.

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– replies Ádám Wortmann, one of the owners of ONLINET Ltd, when we ask him what did he felt, when he find out that his company is one of the four Hungarian companies, who's successes will become part of the curriculum in an American university. He tells us that the IT company established with two of his friends, came in focus because of the fast way in which, from a small local company they turned into an international corporation. The company that designs and manufactures Queue Management and Digital Signage systems, after a modest start, today is a large corporation with 5 subsidiaries and a distribution network that covers 3 continents.

The group has arrived on the early afternoon at this stop of their trip, where divided in three groups, follows the host's agenda. The first part of the programme is a presentation, where ONLINET's Export Department Executive introduces the company, the products, the markets and the most important clients. The five generations of the company's lifecycle and the different stages of the growth are presented by the Sales and Financial Director. Nothing shows better the honest interest of the visitors, than the fact that after a while the wave of questions must be stopped. The next group is coming. Following the first group, our way leads to the assembly room, where the group has an insight into the hardware equipments manufacturing and testing processes. From here, we walk up higher and higher in the Hungarian's company headquarter. Through the work done by the design, software development, sales, project management, installation and finally the support and operation departments, the group gets an overview on how an idea turns into a competitive product.

– replies Robert Sweo, UCF professor, when we ask him about the major differences between the American and Hungarian way of doing business.

„Surprise and honour.”

„The greatest challenge in the United States is that everything is so big, so large compared to Hungary. The market, the competitors or even the distances. That's why you need business practices that helps you to spread an idea on a wide scale. In Hungary the business relationships has a huge importance.”

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– completes Gerrit Lemmen, one of the UCF students.

When we ask them, if they have learned anything new during their visit, professor and student doesn't have to think at all, when their replies are positive. From ONLINET's example they saw that a company can survive the tough times if it's constantly changing, following the changes in the business environment.

– underlines Robert Sweo.

– adds Gerrit Lemmen. Regarding our question of describing what was especially impressive in the Hungarian business culture, the “fluid mentality” was the immediate answer. In this post-communist country there is no “carved in stone” mentality in doing business. There are many young people working in companies, learning from each other, setting even new principles with a big flexibility.

Nothing shows better how much the group enjoyed their visit, than the fact that the programme scheduled for 2 hours last almost 4 hours. A city tour and an unmistakeable Hungarian supper will follow for the rest of the day. Before saying goodbye we had the chance to ask them quickly what are they going to say about Hungary to their friends and colleagues when they return home. – was the answer.

„ We Americans tend to turn everything into a commodity. You know, as usually people say that everything has a price. As I can see here, business relationship is really everything. If we would have to bring this to the United States, in order to maintain the same margins, a similar company would have to grow 200-300% bigger.”

“A company that is unable to fit into new market expectations cannot survive. These companies has survived the global economic crisis too.” „Timing is everything. You must be smarter and faster than anybody else. Our today's visit proved us the same. This is the secret of this company's success too. ONLINET had a vision that was progressed, then pushed and pushed, generating success in a short period of time. This mentality could be a model not just for Hungarian but for American companies too.”

„Great place to go. You should try it.”

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The University of Central Florida (UCF), is the largest university in the state of Orlando and the third largest university in the United States, by enrollment. UCF was founded in 1963 as Florida Technological University with the goal of providing highly-trained personnel to support the Kennedy Space Center, located only 35 miles (56 km) to the east. UCF has granted more than 186,000 degrees in its 40 years of offering classes. Offering 225 degree programs, it has become an academic and research leader in numerous fields, such as optics, modeling and simulation, engineering and computer science, business administration, education, science, hospitality management and digital media. During its brief history, UCF has hosted numerous notable speakers. Among these include Presidents Richard Nixon and Bill Clinton, then Senator and current Vice President Joe Biden. More than 56,000 students attend classes on UCF's main campus and its 10 regional campuses located throughout Central Florida. UCF students come from 50 states and 141 countries. In 2007-08, UCF professors received $122.8 million in research funding. More than 66.000 people said they like the UCF Facebook page.

ONLINET was incorporated in 2001, as an idea of 3 good friends, with modest financial resources, but huge enthusiasm. Today the company has 60 employees, 5 European subsidiaries and a distribution network that covers the European and African continent and the Middle-East. The Queue Management and Digital Signage systems designed and manufactured by the company are used by approximately half million people daily, in more than 1200 Customer Services all around the world. The Deloitte Group awarded the company, in three consecutive years, with the prestigious Technology Fast 50 CE and Fast 500 EMEA awards. In 2011 the company installs its first system on the American continent, in Washington.

From „garage company“to market leaders

University with morethan 66.000 friends