The Hungarian economy is on a new development path after coping successfully with challenges raised by national economic transition and the increasing globalization in the first half of the 1990s. Competitiveness has become a key issue for both macroeconomic analysts and for decision makers in business and government. Recognition of the above in 1995 led the Budapest University of Economic Sciences to start a research program titled In Global Competition - Microeconomic Factors of Competitiveness of the Hungarian Economy. A focal element of the research program was an opinion survey. 1400 executives of 325 companies completed the questionnaire that time. In 1999 the survey was repeated and 1220 executives of 319 companies completed the questionnaire. The analysis of the database of the two surveys makes it possible to provide an overview of the changes in the behavior, performance and selected operational fields of Hungarian companies between 1995 and 1999. The main findings of this analysis are published in this book. Besides the description of the Hungarian developments authors are intended to provide some more general conclusions for those interested in micro and sub-micro factors of national competitiveness. Hopefully academics and students of business studies find instructive the book and the Hungarian experiences with the market system can be interesting and instructive for business and government decision makers coping with or ahead of similar challenges.