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Dr. Zoltán Csedő Appointed Head of Department of Management and Organization

Dr. Zoltán Csedő, Managing Partner of Innotica Group, has been appointed Head of Department of Management and Organization at Corvinus University of Budapest, Faculty of Business Administration, from 1st of July 2017.

As Associate Professor of Change Management, Dr. Csedő has performed several research programs, being author of research articles in change management, knowledge management and business strategy. He is member of Hungarian Academy of Sciences' Public Body, Scientific Section of Economics and Law, Committee on Business Administration. Dr. Csedő is also teaching within the MSc Program of Management and Business Administration of Corvinus University of Budapest, since 2004.

In the past 30 years the Department of Management and Organization gained a leading role in Hungary in the field of management and leadership, currently,  being a flagship department of Institute of Management. The Department started to transfer the mainstream management thinking to Hungary years before the economic transition. It pioneered in researching several management and leadership concepts in Hungary. That made possible to create a unique curriculum and launch programs that are widely recognized. The Department of Management and Organization is also very proud of the international relationships with the best global universities and business schools. 

Corvinus University of Budapest is a research university oriented towards education, where the scientific performance of the academic staff measures up to the international standard and the students can obtain a competitive degree having a standard and knowledge content identical to similar-profile universities and acknowledged on the European Union's labour market and on a global scale.

Reinforcement Learning: Breakthrough Technology of 2017

Breakthrough technologies will affect the economy and our politics, improve medicine, or influence our culture. Some are unfolding now; others will take a decade or more to develop. 
Reinforcement learning is one of top 10 breakthrough technologies listed recently by MIT Technology Review. By experimenting, computers are figuring out how to do things that no programmer could teach them.
The setting where you will probably most notice the remarkably humanlike behavior of this technology is in self-driving cars. Today’s driverless vehicles often falter in complex situations that involve interacting with human drivers, such as traffic circles or four-way stops. If we don’t want them to take unnecessary risks, or to clog the roads by being overly hesitant, they will need to acquire more nuanced driving skills, like jostling for position in a crowd of other cars. Progress would proceed much more slowly if programmers had to encode all such decisions into cars in advance.
For more information, please read the article in the March-April 2017 issue of MIT Technology Review:

Brexit: economic and business perspectives and opportunities for a new era of bilateralism

Dr. Zoltán Csedő, Managing Partner of Innotica Group, moderated a panel discussion focusing on 'Brexit: economic and business perspectives and opportunities for a new era of bilateralism'. Participants of the panel included alumni from the London School of Economics and Political Science, Oxford University and Cambridge University. Key issues have been discussed regarding post-Brexit cooperation opportunities between UK and countries of the Visegrad Cooperation and the Balkan region. The panel discussion took place at an international conference entitled 'The role of Chevening Alumni Network in post-Brexit Europe' organized jointly by Chevening Alumni organisations from Croatia, Slovenia and Hungary in Zagreb, between 17-19 February 2017. 

Chevening is the UK government’s international awards scheme aimed at developing global leaders since 1983. Funded by the Foreign and Commonwealth Office (FCO), Chevening offers a unique opportunity for future leaders, influencers, and decision-makers from all over the world to develop professionally and academically, network extensively, experience UK culture, and build lasting positive relationships with the UK.

Dr. Zoltán Csedő was a Chevening scholarship holder while obtaining his MSc degree at the London School of Economics and Political Science.


Blockchain technology: will be a disruption to financial services?

Proponents of the blockchain technology envision a world without financial service providers. Asset ownership would thereby be recorded in a distributed, non-manipulable ledger – the blockchain – that is stored on each participant’s computer. Except for the digital currency bitcoin, this technology has not been widely applied so far. Many promises surrounding blockchain exist. The most important ones are:

  • Blockchain is cheaper than the current payment system
  • Blockchain is faster than the current payment system
  • Blockchain does not need a regulated third party
  • Blockchain is less error-prone than the current payment system
  • Blockchain is safer than the current payment system

Researchers argue, it is still uncertain whether the blockchain will be a disruption to financial services. For a well-functioning market for blockchain applications to emerge, these have to be able to compete with current systems. Blockchain services need a legal definition and should be compliant with rules and regulation. Moreover, there should be registration requirements for mining services as well as supervision since miners could become critical infrastructure.

For more information, please, read the LSE Business Review article:

What can today’s non-energy CEOs do to prepare their firms for a prosumer future?

Commercial and industrial firms are prime candidates to become prosumers due to the large size of their facilities, variations in power use, and ability to buy and sell electricity products at scale. The most common and fast-growing source of locally generated (or “distributed”) power is rooftop solar. Many commercial and industrial buildings have rooftops, parking structures, and unused land that can host systems that are significantly larger and cheaper than residential systems.

Many companies are already in markets where “demand-response” contracts enable them to sell the right to manage a portion of their power use, allowing them to be paid for reducing their energy during hours when the spot price of power is high. In the future, in addition to selling actual power reductions, companies will be able to sell other currently-hidden services produced by their buildings, solar systems, or vehicle fleets back into the grid.

What can today’s non-energy CEOs do to prepare their firms for a prosumer future? 

A comprehensive energy audit by a qualified energy services firm familiar with the latest smart control technologies, traditional energy efficiency measures such as efficient motors and lights, and demand response options is the way to start. This audit will almost certainly reveal opportunities to save money and sell (or at least conserve) some energy services right now.

For more information, please, click on the Harvard Business Review article below: