Sustainability Management in Hungary

Abstract

In Hungary the culture for sustainability management is quite diverse. Even large companies are usually subsidiaries or suppliers to large multinational companies and the influence of buyers and owners is substantial. As a result there are a number of different traditions in sustainability management in the country and correspondingly relatively few typical cultural attributes. The impacts of investors and shareholders are given high scores in the survey, while consumers are given a low score in motivating companies to pursue sustainability management. Community also has little influence because community involvement in sustainability management does not have a long tradition in Hungary. Thus two-way communication and participative methods of stakeholder management are less common. The responses show that Hungarian companies manage most environmental issues, especially emissions, more closely than the international average. Sustainability management tools are broadly known and applied in the country, and the general satisfaction with the number and level of tools indicates that there is no need for further development here. Basically, Hungarian companies are more sceptical towards the benefits of the implementation of corporate sustainability. This is especially true with regard to the prospective positive impacts on cost reduction, innovation, employee motivation as well as enhancing and safeguarding corporate reputation. In sum, Hungarian companies have already demonstrated expertise in most fields of sustainability management, but the development of a more participative collaboration with both internal and external stakeholders in sustainability management is still needed.