Our mission is to improve the governance and transparency as well as boost competitiveness, entrepreneurship and sustainability in the private, non-profit, and public sectors by engaging the next generation of leaders and the trainers of those future leaders.
The G&T Committee engages leading stakeholders in the private, public and not-for-profit sectors, including academia, business leaders, entrepreneurs, and other players by promoting best practices in the areas of Governance, Transparency, Integrity, Ethics and Entrepreneurship. This Committee’s major first work is titled AmCham’s Position Brief No. V: Good Corporate Governance as a Pillar of Hungarian National Competitiveness. The G&T Committee has forged a strong partnership with academia and helps provide these educators (at their request) needed content for their classrooms including practical business presentations and discussions, real-life case studies and networking possibilities. This Committee also leads AmCham in its promotion of best practice entrepreneurship (and hence innovation) that is considered a key factor for increasing Hungary’s competitiveness. It seeks to spark the entrepreneurial spirit in future generations, to highlight best practices, and to build a better future generation of leaders in Hungary. This Committee continuously and actively monitors and comments on new government legislation, regulations and policies. It also cooperates with other AmCham Committees and Policy Task Forces, such as finding solutions to the challenges of innovation and creating a more competitive workforce.
Main actvities and achievements 2018
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. As professors seek content from and partnership with the business community for their classroom, this Committee created regional real world-based case studies that are used to educate the next generation of Hungarian leaders.
Private sector and government engagement –The G&T Committee encourages and facilitates a dialogue on integrity and transparency in both the public and private sectors. The Committee holds an annual conference on integrity issues. This year’s event titled Managing the Fallout: How to Mitigate the Negative Impact of a Scandal had opening remarks delivered by David Cornstein, U.S. Ambassador to Hungary, who lauded the importance of Corporate Compliance experts in advising business leaders. Keynote speaker Angela Crawford, Chair of Litigation for DLA Piper’s Miami office followed. She gave a unique “Eye of the Beholder” perspective of corporate employees engaged in corrupt practices, highlighting how offenders are often surprised at what seemed like “a small price to pay” has rather serious consequences for both the company and the individual. FBI Supervisory Special Agent, Tim Thibault, was also Keynote speaker. He played a significant role in the investigation of former Congressman William J. Jefferson and other individuals and presented a fascinating insider overview of this case. He also shared his thoughts on the social “hidden costs” of corruption including in such high-profile cases. The event also featured a panel discussion.
Board Simulation – Besides our conventional case study we launched a second case study which focuses on an SME scenario. In this case, the debate at this privately held company’s board of directors emphasizes the dilemma faced by a formerly fully family-owned business now having to negotiate its future strategy with a venture capital investor. Family tensions complicate the debate, as do other considerations. This educational program serves as an important pillar of engagement between AmCham and academia. Both simulation cases were created at the request of Hungarian professors who lacked real-life case study teaching tools. The Committee is working on developing further Board Simulation cases with additional scenarios that would prove interesting from Corporate Governance and other standpoints.
Start Your Business – The Start your Business! program seeks to develop a stronger sense of entrepreneurship in Hungary Since its launch in 2012, more than 2,300 students and 13 universities in Hungary, and more abroad, have been reached through this program.
“Vállalkozni Jó! (Entrepreneurship is Good!)”
Is a printed and digital publication containing now 17 interviews with 20 legendary Hungarian entrepreneurs. It presents the entrepreneurs’ garage to success mindset, positive thinking, passion and untiring determination. We are proud to have collected examples of how Hungarian innovation converts into practice. It explores their personal motivations rather than describing their specific startup company’s evolution. The first, printed booklet version of the publication involved nearly 50 volunteers.
Main actvities and achievements 2017
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.
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.
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.)
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.