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Business and corporate culture in Hungary are undergoing a profound change. Although the first phase of transition to the market economy is complete, great efforts are still needed to bring the country – and business in general – to the point of readiness to join the EU. Legislative harmonisation is under way, the “Acquis communautaires” require to be adopted and the nation is intent upon meeting the conditions for accession in respect of democracy, the market economy and competition. However, in parallel to these efforts uncertainties are growing in the value system – in general morale and in unwelcome problem areas which can easily generate social tensions – all of which have their effect upon business and corporate culture.