Mission of the Committee:
To improve the governance, transparency and integrity of non-profit, private and public sector practices, while encouraging entrepreneurship, to boost competitiveness, accountability and sustainability and to build a better next generation of leaders in Hungary.
Overview of the Committee’s projects and activities:
The G&T Committee champions the importance of building awareness and of employing good governance in the business, governmental/political and non-profit sectors in Hungary. This is highlighted in AmCham's Position Brief No. V: Good Corporate Governance as a Pillar of Hungarian National Competitiveness. The G&T Committee also has forged a strong partnership with academia and helps provide these educators (at their request) by providing real-life case studies and networking possibilities that is otherwise lacking. This Committee also leads AmCham in its promotion of best practice entrepreneurship and considers this subject a key factor in increasing the competitiveness of the country. It seeks to spark the entrepreneurial spirit in future generations and to build a better future generation of leaders in Hungary.
The G&T Committee has created and manages numerous projects that support its mission and the goals set down in the AmCham Policy Agenda. Many of these are done in partnership with academia involving Hungarian universities, particularly those focused on best practice governance, integrity and entrepreneurship. A number of projects also facilitate the engagement of the private and non-profit sectors, where dialogue with academia is considered critical to delivering real practical examples to the next generation of leaders in Hungary. The Committee also works with multiple Policy Task forces in topics concerning Hungary’s competitiveness, as well as the Regulatory Committee on monitoring new legislation. The deliverables from these projects also seek to encourage the use of best practices.
Academic Engagement – Nearly every year the G&T Committee seeks to reinforce its direct dialogue with academia. Either special workshops are organized with a focus on a specific topic or professors are invited to attend otherwise standing conferences or events. Professors seek partnership with the business community since they lack adequate case studies of real world challenges that can be used to educate the next generation of Hungarian leaders. The G&T Committee seeks to satisfy at least part of this demand by offering meaningful content that can be leveraged by the professors to reach multiple students who are seeking practical knowledge to complement their coursework.
Government Engagement – The G&T Committee also maintains a dialogue with the government to encourage integrity and transparency in the public sectors. One of key venues that the G&T Committee uses to hold a constructive dialogue on this topic is its annual conference on integrity issues. In the past years, specific topics have included compliance, internal audit, and whistleblowing. These events have attracted speakers such as the US Ambassador Colleen Bell and Minister of Justice László Trócsányi. The G&T Committee continues to provide compliance-related best practices as and when asked by the government.
Board Simulation is a role-playing simulation case study written and copyrighted by AmCham that presents a fictional stock exchange listed company’s board meeting. In this enactment, six or more volunteer G&T Committee members demonstrate on stage the business implications and challenges of corporate governance issues in a large company setting. Students get to experience firsthand how a typical board meeting occurs. Discussions are playacted with deliberate intensity when sensitive issues and difficult decisions are discussed. The simulation was originally created five years ago at the request of Hungarian professors who lacked real-life case study teaching tools. The simulation has been already playacted at five different Hungarian universities (BCE, BME, PTE, ELTE and CEU) and has recently crossed Hungary’s borders with an event at Wirtschaftsuniversität in Vienna, Austria. Overall this case study reached almost 700 students. The Committee plans to launch a second board simulation case study next year that rather focuses on a SME (Small and Medium Enterprise) scenario. This new case study was developed at the request of university Professors who sought from the G&T Committee additional teaching tools including case studies, for the more common SME governance challenges.
Start Your Business series in 2016 included four sessions at several university campuses across Hungary (SE, ÓE, SZIE and BCE). Since its launch in 2012students have attended the events. At each program, students are inspired by the presentations of Hungarian entrepreneurs who have successfully built their own start-up companies. These programs also feature panel discussions by venture capital, legal, financial and HR experts who help guide students’ in their first steps towards launching their business. Interactivity is at the core of the sessions with a question and answers block typically after each speech and after the panel discussion. The events end with a relaxed networking opportunity for all.
Jövő Vezetői Facebook page is regularly updated with information and events related to G&T Committee activities to create a connection between the present and future generations of the business community. (Join the Committee's Facebook page, 'A Jövő Vezetői' here.)
Monitoring and Commenting on Legislation / Providing Input - The G&T Committee continuously and actively monitors and comments on new legislation, regulations and policies of relevant bodies (e.g. Ministry, BSE, etc.) It also cooperates with other AmCham Committees and Policy Task Forces in a number of areas, such as finding solutions to the challenges of innovation policy and boosting national competitiveness through fostering entrepreneurial talent.
Vallalkozni Jó! (Entrepreneurship is Good!)”- In 2016 AmCham digitally published its September 2014, AmCham publication titled “Vallalkozni Jó! (Entrepreneurship is Good! - view here)”. This is a collection of 14 interviews with 16 legendary Hungarian entrepreneurs. The publication presents the mindset, passion and approach of the entrepreneurs. It explores their motivations rather than describing their specific startup company’s evolution. Their common theme that led to their success is undeniable: Their positive thinking and untiring determination, portraying garage to success stories. This publication was prepared by the G&T Committee following a two-year-long effort involving nearly 50 volunteers and physically published in book form. The publication is also now available on AmCham’s website in a searchable digital format. The G&T Committee has already extended this digital archive with the addition of new entrepreneur interviews. The publication should be expanded by this year’s end and also annually with an additional two entrepreneur interviews to include yet more entrepreneur role models.
Prior Publications also include:
- Position Brief No. V:“Good Corporate Governance as a Pillar of Hungarian National Competitiveness
- Glossary of Corporate Governance and Business Integrity Terms: English- Hungarian/Hungarian English
- Corporate Governance Guidance and Principles for Unlisted Companies in Europe” (Hungarian translation)
- Contributor to “English-Russian/Russian English: Business Integrity Glossary” published by Central European University
Partnerships / Cooperations - Many of the G&T Committee’s projects are undertaken in cooperation with other chambers of commerce, academic institutions and NGO organizations including: Budapest Business School, Budapest University of Technology and Economics, CEU Business School, Corvinus University of Budapest, Debrecen University, Embassy of the United States of America, Hungarian Venture Capital Association (HVCA), Joint Venture Association, Junior Achievement in Hungary, Kairos Society in Hungary, Óbudai University, Pázmány Péter Catholic University, Simonyi BEDC, Szeged University, Szent István University in Gödöllő, Széchenyi István University in Győr, University of Pécs, and Young Entrepreneurs Association Hungary (FIVOSZ).
*To read the Annual Reports of the previous years, please click here.
*For more details on our upcoming projects and events for 2017 please contact the committee chair or the coordinator.