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To improve effectiveness, quality and efficiency in public administration services complex measures are needed. A factor of major importance in this process is to provide access to relevant services for a wide audience, at the minimum cost, tailored to the needs and electronically, i.e. using ICT opportunities. It is almost impossible to implement all this from budgetary sources, along the traditional operation principles of public administration. Support from the EU offers a solution for funding; while the application of project management methods my lead to a paradigm shift in the operation and culture of public administration, in how tasks are accomplished, as well as in ensuring the context for planning, leading, organising and controlling development efforts. At public-law institutions the majority of projects are motivated by needs related to law, community and culture; their achievements cannot, as a rule, be measured; their economic results are not easily traceable (e.g. just by improving efficiency after re-organisation); they implement intangible objectives; and it is only infrequently possible to re-design or interrupt projects. At the same time, it is difficult to find a correspondence between the nature of the everyday operation of public administration and the features of projects. Over-regulated environment may encumber project implementation, make it inflexible and slow; in an excessively hierarchical organisation the transitional organisation background, characteristic of projects, may hinder or impede both routine work and project work itself; it is difficult to designate the obvious place and mutual relationship of project objectives as parallel to political and institutional aims relying on and directed by daily operation and tasks; instead of vague success criteria, characteristic of administrative work, the project defines unanimous criteria for controlling and evaluating tasks and those performing them; the contradiction between official duties and expertise, many times so characteristic of administration, may lead to tension within the organisation; cooperation, which is inevitable for success, is uncommon in the administrative structure and relation system; the intensity and tone of project processes and discussions leading to decisions, the short period to reach a decision are not common in public administration decision-making which is rather characterised by step-by-step, disconnected processes, peace-motivated staff and a dominance of managers. Generally, public-law institutions are lacking in those competences as well that are required for a successful project implementation. This article describes the entry, applicability and effects of projects and project management approach to public services organisations. As an illustration it quotes the example of the Digitised Legislation Knowledge Base a project at the Library of the Hungarian Parliament -, presenting theoretical and practical problems, and advocates the necessity and feasibility of projects and the project management approach. [ABSTRACT FROM AUTHOR]

Nowadays, real options have several field of application. This paper examines the potential integrating influences of real options concerning financial and strategic aspects of investment decision-making. In this, unusual point of view, the author compares professional results of some relevant case studies, and the most important real option valuation processes as well. Consequently, the main types of problems concerning strategic investment analysis are demonstrated. As a result, the author suggests a strategic-real option model (SRM), which can be used for both elimination of identified problems and development of general, real option valuation processes. [ABSTRACT FROM AUTHOR]

The present (first) part of this paper introduces the three basic historical tendencies of leadership as antecedents of contemporary leadership theories. There follows a description, from conceptual and pragmatic points of view, of the evolution of "new leadership" characterized by a focus on change and the use of new tools of managerial influence. In accordance with contemporary theories, features of charismatic, transformational, visionary, servant, and emotional intelligence are identified and interpreted. Emphasis is placed on transformational leadership in order to prepare the ground for the detailed analysis of the latter which follows in Part II. The study highlights the fact that the theories under consideration do not only have characteristics of their own, but are also mutually related, and indeed - as shown by concrete cases - are interwoven. It emphasizes the role of contemporary theories from two aspects: besides complementing former concepts they are also integrative in leadership thinking in a specific sense. [ABSTRACT FROM AUTHOR]

Today we hear a lot that, enterprises as well as individuals in the „new‟ economy, based on "networks", are forced to continuously learn and innovate in order to survive and prosper. Responsibilities have to be delegated to those whose knowledge and situation regarding decision making is the most convenient. From the aspect of geographical location, organization and time, basic competencies often are scattered, this is why continuously changing groups of participants have to be connected to complete assignments. Work has to be done in "self-organizing" systems, to which a seemingly ad hoc capture of capabilities of the individuals is characteristic. In this network economy, success comes to those who can effectively connect individuals and organizations in a dynamic competition, induced by rapidly changing conditions and connections, and caused by information flows which are present everywhere. Network economies draw attention to several issues. This paper addresses only organizational relationships, leadership and interpersonal relationships. [ABSTRACT FROM AUTHOR]