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Since the survival and growth of small firms depend largely on their ability to acquire legitimacy within the institutional environment, social responsibility plays an important role in their lives. The aim of this study was to investigate how a disruption in the normal course of business can lead to an evolution and change in the social responsibility activities of small and medium‐sized enterprises. Such disruptions, called critical incidents, interrupt the normal functioning of the business. The case‐based exploratory study found that such critical events can have a positive impact. In particular, they can initiate the integration of socially responsible business practices. This is a journey from philanthropic donations to fully integrated socially responsible practices, often driven by internal triggering events such as organisational growth, unanticipated changes in management, or generational change, which allow new values to be brought on board. When such an internal event is followed by a highly critical but external event, such as the COVID‐19 pandemic, the transformation gains momentum. The findings also suggest that social responsibility can be a new source of competitive advantage. [ABSTRACT FROM AUTHOR]

This study examines the changing preferences of rural tourists in Western Transdanubia, Hungary, in the wake of the COVID-19 pandemic. We aim to uncover how rural tourism has changed and identify the new winners of the shifting demand. In 2021, we conducted a comprehensive survey with 925 participants and introduced a novel activity-based segmentation of rural tourists, revealing a strong preference for complex service packages. Practically, our findings highlight that village caterers who have strategically segmented the market have emerged as winners, successfully attracting different age groups and genders with customized packages. Cluster analysis revealed a segment of rural tourists who, without exception, were enthusiastic about diverse activities. In particular, our cross-cluster analysis points to a significant amount of potential demand among middle-aged tourists. These findings help practitioners develop a targeted product mix and marketing strategy to meet the changing demands of rural tourism. [ABSTRACT FROM AUTHOR]

The complex relationship between sustainability, digitalization, and profitability has received less academic attention, although each of these topics is an important research area on its own. The aim of the research is to understand the effect of environmental sustainability and the usage of management information systems on profitability in the case of SMEs. Based on the answers of 315 SMEs (small and medium-sized enterprises), the article highlights that not all management systems increase profitability. The novelty of the research is that it outlines that the usage of Document Management Systems contributes to profitability while other systems don't, e.g., the usage of Enterprise Resource Planning systems is not significant, which suggests that its introduction and application no longer represent a competitive advantage; this system alone is not enough. There is an ecosystem of management information systems, the basis of which is document management. The research also highlights that focusing on environmental sustainability has no effect on profitability in the case of Hungarian SMEs, neither in the short term nor in the long term. Thus, it is not a competitive advantage. [ABSTRACT FROM AUTHOR]

Crowdfunding is a disruptive innovation and has provoked interest as a new way of raising finance. The objective of our research was to analyse both the demand and supply sides of the crowdfunding ecosystem. The study used two methods. The first was a database analysis of 259,114 Kickstarter campaigns. The second was a survey on public awareness of crowdfunding in Hungary, from the perspective of 132 potential investors. The findings suggest several success factors that may be useful for campaign launchers: (1) appealing project presentation; (2) diverse pool of rewards; (3) realistic set of funding goals; (4) appropriate categories and sums of pledges; and (5) frequent communication and satisfactory information about the campaign. Furthermore, the study revealed the differences between the potential investors' expectations and the reality of crowdfunding practices. [ABSTRACT FROM AUTHOR]

The World Economic Forum stated that while digitalization caused a rapid productivity growth, it has also had its disadvantages. Can digitalization be the catalyst of economic development? Our hypothesis contributes to the debate that the higher the level of digital development in a given country, the greater the quality of life and purchasing power it can achieve due to the benefits of various digital technologies. In our research, we investigated the relationship between the Digital Economy and Society Index (DESI), the Quality of Life Index (QLI) and the Purchasing Power Index (PPI) among the EU countries from 2014 to 2019. We acquired datasets from Eurostat and Numbeo and examined correlations between indices. We found a strong positive relationship between the level of digitalization, the quality of life, and the purchasing power. [ABSTRACT FROM AUTHOR]

There is a strong need for social value creation in our life. More and more people have to face mental illness caused by our stressful life. Social entrepreneurship and social enterprises are approaches to deal with these challenges. They are managed with a business mind-set coupled with social sensitivity. The paper examines how social value creation is interpreted and how social impact is measured and reported by social entrepreneurs using multiple cases from the business and the public sphere. It was found that a comprehensive social value creation model could help social enterprises to manage these challenges and have a greater impact. [ABSTRACT FROM AUTHOR]