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Ivaylo Stoyanov
Power and Behaviour of the Human Factor in Management
Summary:
The study analyses power as an instrument of behavioral influence in management. It outlines the basic concepts of power, its types and forms. The main characteristics of decentralization and delegation of authority are also discussed. The determinants of power relations in management are adapted and further studied so that power can be diagnosed rationally. Power is an indispensable element of management process and affects the subject and object of the process realization. It gives senior managers the right to make management decisions and give orders in organizations.
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Petar Petrov
Influence of Organizational Changes on Attitudes Towards Human Resource Management Activities
Summary:
Each organization is subject to various changes. These changes exert influence in different directions. In the field of human resources management, employees' attitudes are essential for the success of the implemented HR activities. The purpose of this paper is to study the impact of organizational changes on attitudes towards human resource management activities. On this basis, recommendations are made for the successful management of this interaction and for achieving positive effects for the organization, both in the implementation of HRM activities and in the implementation of organizational changes.
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Irena Emilova
The Relation Manager and Subordinate - Basic Assumptions
Summary:
The article examine analogy with basic assumptions of interaction model toward relation manager-his subordinates. We explain symbiotic interaction between them, systematically blockage on mutually needs and availability of the forces of change. The demonstrations of these assumptions have diagnostically value for managerial process.
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Zhelao Vytev
Discussion Questions of Stress Testing in the Modern Bank Practice
Summary:
The present article provides critical analysis of the existing practice for carrying out of stress-test in the banking sector in the country and abroad. It provides good grounds for accentuating on a number of unsolved or discussion issues, concerning: significance of the stress-tests; scope and periodicity of their implementation; identification of the specific risks, with potential negative effects; scenario modelling with specifying key risk parameters (factors), subject of shocking changes; performance of comparative analysis of the methods for implementing stress-tests and outlining of their advantages and disadvantages; specifics of implementation of the so-called „reverse" stress-tests, etc.
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Ninel Nesheva Kiosseva
Environmental Management and the Impact of Regulation in Bulgaria
Summary:
In placing increased emphasis on good environmental management, the Bulgaria government began providing resources on environmental management, such as guidance documents, case studies, and benchmarking studies. It also motivates businesses to understand the full spectrum of environmental costs and incorporate these costs into decision-making. Some of the difficulties are non-uniform definitions and non-uniform executions, and lack of comparable information. The report discusses the needs for good quality information to be available to both managers and society before further advances can be made.
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Dragan Georgiev
Establishing a System of Income Multiplier Profiles in the Lodging Industry
Summary:
The determination of income multiplier profile (IMP) of an enterprise, activity or department in the budgeting process is a popular method in the field of hospitality to study the influence of different value measurable key factors on the financial result. Its traditional use is associated with determining the business orientation, analyzing the profitability of products and services in order to optimize the financial result, and implementation of accounting and control strategies.
This paper presents a modified approach for establishing a system of standardized profiles, based on conception of responsibility centers under USALI, as key factors are derived from the basic algebraic relationship "cost-volume-profit".
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Daniela Stoyanova
Research of Major Models of Organizational Change in the Modern Organizations
Summary:
This article aims to present the need for organizational change in the modern business organization. In order to achieve this goal, on the basis of analysis of the literature resources, an overview of some basic models of organizational change has been made. The main topic of the article is the classification of models of organizational change and outlining their basic ideas. The presented article is structured as follows:
§ Introduction.
§ The need for organizational change.
§ Cluster of models of organizational change: First group - Models for the study of organizational change; Second group - management models for organizational change.
§ Conclusion.
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Ivaylo Stoyanov
Indicators to Managing High Tech Enterprises
Summary:
In the crisis circumstances, technological enterprises can win if they change the way to make successful business. Therefore we think that they give a new meaning the rules for sustainable development. The fetch must be concentrates not only the customers needs. That is one of the possibilities for successful business. Because they change repeatedly their needs, the organizations not always be react in time. In this point of view high tech enterprises must be recognize the indicators that influence for successful management.
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Ivaylo Stoyanov
Intelligence and Managerial Behavior in Management of Organization
Summary:
The article examines issues related to intelligence and behavior of managers in an organization. Managers today face different challenges and problems arising from the business environment and the dynamics of social process. In this context most of them need competencies that are essential to deal with business ventures in the organization. The publication is a brief retrospective review of the types of intelligence (emotional, social and practical) and considers their specific characteristics. An integrative model of intelligence is proposed and behavior of managers in the organizational environment has been proposed.
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Anita Atanassova
Clasification of Costs as a Tool for Business Management in Bulgarian Reality
Summary:
Costs are an essential tool in the economic management of enterprises. According to the results of an empirical study, contemporary Bulgarian practice recognizes this fact. In the same time we witness a number of controversies regarding the understanding of costs, assessing their relevance to financial management and practical implementation of various cost. The main reason for this is a lack of adequate knowledge for the opportunities offered by the different approaches to cost management. As a necessary first step we consider dissemination of information for costs in various aspects. Responding to that gap, we propose a broad modern classification of costs, combining classification criteria, classification purposes and specific types of costs.
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Irena Emilova
The Conceptual Model for Managing Organizational Culture in the Sphere of Social Activities
Summary:
The paper explores options to create a conceptual model for managing organizational culture in the sphere of social activities. In it a clarified the essence of organizational culture, as a phenomenon and its elements and new approaches to scientific and practical study.
There is selected subsystem - social services, for approbation of a particular model. In it is prove the idea, that organizational culture is a reliable tool for the development of any organization in today's complex and dynamic environment.
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Emil Tsanov
Conceptual Aspects of Social Digital University
Summary:
The development of information technologies in direct proportion to the growth of technology and media for social interaction, sharing of resources and management of the relationship between objects and subjects of these processes, incl. university education systems requires improvements in their direction trinity "social network - content management - management of customer satisfaction." There are technologies, processes and specialized tools by means of which the contemporary complex environments for Content Management can automate processes throughout the life cycle of educational activities. Complex and diverse processes between objects and subjects of collaborative working build the nodes and relationships in a heterogeneous, multi-dimensional, optimal manageable social graph.
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Ognyan Simeonov, Maya Lambovska
Survival Crisis and Evaluation of its Depth
Summary:
The present report takes the view of the business organizations’ natural evolution. The report scrutinizes crises as a necessary challenge, an inevitable companion and a motive force of this evolution. Along with some fundamental methodological approaches to that understanding, a general characterization of the evaluation methods for threats to the organization is propounded in the report. Such methods are considered as a key point for revealing the extent of contradiction between organization and its surroundings, which contradiction causes any type of crisis.
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Stefan Breuer, Patrick Szillat
Leadership and Digitalization: Contemporary Approaches Towards Leading in the Modern Day Workplace
Summary:
: The objectives of this research article are to shed light on the recent developments in management in a digital environment as well as the related challenges and opportunities in this matter. Thus, transformational leadership as the basis for the current change processes will be described. Afterwards a theoretical review of the current developments towards an entirely new digital leadership approach will be conducted by reviewing the current state of research on this topic. These theoretical key findings will then finally result in an overview of the success factors and needed characteristics of today’s digital leaders.
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Milka Bakyrdzhieva
The Manipulation in Management and Mass Communication Technologies
Summary:
The aim of the research is to define the nature of the “manipulation” phenomenon and its manifestations in the management and mass communication technologies (propaganda, advertising and public relations). The research outlines some methods for managing cases of manipulation and, in certain cases - techniques for counter-manipulation.
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Milen Dinkov
Micromanagement in the Organization – as a Form of Control and Management Style
Summary:
The article examines the phenomenon “micromanagement” as one of the major disadvantages of management. The characteristics of this style of management and fundamental qualities of micromanagers have been analyzed. Based on the analysis, the causes of micromanagement in an organization and its possible effects on employees’ behaviour and condition have been defined.
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Hristo Nikolov
Organizational Structures in Management Systems - Science and Practice in Industrial Enterprises
Summary:
The article provides a theoretical overview of the nature and role of organizational structures in the enterprise management system. The processes that affect them are considered, as a result of which changes should be made in the organizational structures of enterprises in order to achieve effective management. Management systems are characterized. A definition of the industrial enterprise as a system is given and its main characteristics are indicated. The main approaches and methods of enterprise management are considered. The organizational structure in the management system is a variable of the internal environment of the industrial enterprise as a result of the influence of both internal and external factors.
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Donika Stoyanova
The Impact of the Quality Management Systems on the Activities of Bulgarian Furniture Producers
Summary:
Quality management systems (QMS) undoubtedly are able to bring a number of positives in the organizations that made the decision of their implementation. They can contribute in improving the image of the enterprise to the clients and the other stakeholders; lowering the cost of internal and external nonconformities, optimizing the organizational processes and numerous other positive effects.
The article presents the results of a survey of Bulgarian furniture enterprises in the period 2015-2016 aimed to find out the benefits, realized due to implemented quality management systems.
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Radoslav Gabrovski
The Challenges in EU Business Environment: Possibilities or Problems for the Bulgarian Firms
Summary:
The paper focuses the attention upon some of the most significant challenges the Bulgarian business is to be faced with after joining with the EU. Highlighted the main areas and reasons for the difficulties and problems the country would probably suffer in the new business environment. The author’s concept is that amongst the many efforts the Bulgarian companies would need to meet the rigid requirements of the new business-logic in EU market, business-re-engineering and risk management are of primary and utmost importance. From that point of view, some of the key areas and suggestions are briefly outlined below.
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Mihail Chipriyanov, Galina Chipriyanova
Field of Application of Decision Support Systems (DSS) in Photovoltaic Project Management
Summary:
The article focuses on current issues in the field of application of Decision Support Systems (DSS) in the management of photovoltaic (PV) projects. In the era of renewable energy growth and the increasing need for environmentally sustainable solutions, PV projects are becoming increasingly important. In order to successfully execute such projects, informed decision-making and optimal resource utilization are required. One effective solution in this direction is the implementation of an integrated DSS, which supports the decision-making process. The article assesses the functions of DSS in PV projects, with a particular emphasis on its capabilities for data management and analysis, scenario analysis and simulation, as well as risk assessment and management. Using the case method, the importance of DSS in improving decision-making, optimizing resource allocation and increasing the efficiency of PV projects is argued.
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Valentin Panayotov
Problem Areas in the Activities of Management Consultants
Summary:
The article reveals the main problem areas in the activity of management consultants. For successful implementation of consultancy projects, it is important to select consultants with the necessary competencies and qualifications. Emphasis is placed on the appropriate personal characteristics that have a great importance on cooperative working with the client. There are those whose importance is difficult to assess, but which can have a very deep impact on the outcome of counseling. These include the consultant's belief system, source of motivation, personal ethics, objectivity, honesty, and loyalty. It is very important that these qualities appear as early as possible in the communication between the consultant and the client
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Mihail Chipriyanov
Product Benchmarking Research
Summary:
As a method for strategic research and decisions, benchmarking contributes to determining the best practices in different companies and to understanding the key factors promoting their success. To that end, the most significant achievements of others are introduced to the organization. Product benchmarking especially contributes to finding the most important factors for success in the supply market. This supports the elaboration of management decisions concerning implementing product policies and, thereby, stimulating the creation of the best product quality and increasing product value for the customers.
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Kristiyan Hadjiev, Nadia Marinova
Project-based Management/A Project Perspective of Management
Summary:
This article examines theoretical and methodological traits of project management and their practical dimensions. It proposes a project-based management perspective and argues that this perspective enjoys the flexibility enabling an organization to respond to volatile environmental stimuli, to foster its creative capacity and to maintain its competitiveness. The proposed conceptual principles and models are elicited by analyzing the structure of the management process and examining its impact on the achievement of various strategic (project) goals. Finally, we identify specific team characteristics and leadership responsibilities conducive to best results in project management.
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Borislav Borisov, Teodora Filipova, Evelina Parashkevova Velikova
A Process of Implementation of Investment Projects within the Scope of Corporate Innovation Activities
Summary:
The innovation activities of the Bulgarian companies lag behind the development of innovation culture and business attitude. The problems are due to the lack of information about the characteristics of the innovations as well as the insufficient knowledge on the investment practices in this field and the available financing programmes. By means of the process approach the article aims to clarify the nature of investments and innovation, innovation project management and the possible sources of financing. An attempt has been made to justify the need for a methodology of investment projects implementation within the scope of corporate innovation activities as well to formulate some principle requirements for it.
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Boryana Ilieva Evlogieva
Order, Chaos, Control
Summary:
The accent is on the necessity to rethink the chaos as having considerable potential for the realization of unusual management practices. The crisis in the value system is a factor that causes disorder and the permanent values presume order. The article examines the relation between the social system and the natural environment, some management models in the aspect of the following categories: order, chaos, management, individualism and holism.
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Rosemary Papworth
Reflective Practice and Personal Development Planning for Undergraduates Studying Business and Economics
Summary:
This paper looks at reflective practice and personal development planning both from and academic and business point of view. As will be demonstrated, these skills are of fundamental importance to students wishing to pursue a career in the business world in order to properly reflect on their current practice and to further develop their knowledge and skills in a knowledge-economy based environment where human capital can be seen to be their most valuable asset. Firstly, the definition and process of reflective practice will be examined in both the academic and professional world. Personal development planning will then be examined in its relation to reflective practice and how it has already been implemented in the UK. Finally, we will look at how these processes and activities can be integrated into the academic environment.
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Gerganta Tsoncheva Petkova
Specificity in Disclosure of Segment Information
Summary:
The aim of this study is to highlight the main problem areas in the disclosure of segment information by transnational companies. In them is characteristic the broad diversification that is associated with operating simultaneously in different economic spheres and in different geographical areas, and this determines the relevance of the topic. This in turn gives rise to the need for adequate accounting information that presents activity by individual component segments. In the development of the article the methods of analysis, synthesis and comparison. As globalisation processes accelerate, the number of organisations operating in different geographies and economic areas. The variety of activities they carry out are characterised by different risks, opportunities for growth and rates of return, and in order to be able to evaluate and analyse these necessary to present their activity by segment. As a result of this study, the following stand out several key points in the disclosure of segment information in recent years by transnational companies, namely: providing the opportunity for external users to get a fuller picture of their activities; the provision of information on different types of business activities/segments and different economic environments helps to better understand and subsequent valuation of a company; allows for a deeper analysis of the the past development of the enterprise, etc.
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Stanislava Stoyanova
Specifics of the Team Approach for Collection
of Management Decisions in the Modern Organization
Summary:
This scientific article examines the specific features and challenges of decision-making in terms of teamwork, and its main purpose is to present their role and influence in achieving efficiency in the management of modern organizations. It examines theoretical statements that describe the nature and some patterns of the decision-making process in the team form of activity, its stages and ambivalent characteristics. The emphasis is on the development of ideas about the role of the team in achieving effective management of organizations. After studying the above features, the basic factors influencing the efficiency in the process of making management decisions are derived.
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Mohamed Mostafa Ali Albaz
The Strategic Role of Human Resources Planning to Achieve Sustainable Competitive Advantage
Summary:
Purpose: The main objective of the research is to achieve sustainable competitive advantage in the Egyptian tourism sector locally and globally, through the strategic role of human resources planning by maximizing value added, developing innovation and knowledge and increasing the quality of service provided.
Practical implications: The state seeks to adopt the human resources planning of Egyptian tourism companies to achieve a sustainable competitive advantage in the light of the sustainable development strategy.
Originality/ value: The approach should be to adopt human resources planning in companies to achieve a sustainable competitive advantage. This research paper covers the framework of achieving the competitive advantage of tourism companies.
Findings: The dimensions of human resources planning have a strategic role in increasing the rates of innovation, development and value added for tourism companies that achieve sustainable competitive advantage.
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Diyana Ivanova
Current State of Internal Control in Public Sector Organisations in the Republic of Bulgaria
Summary:
In the conditions of a global economic crisis, the need to protect public financial interests through effective, efficient, economical, legal and transparent management of public resources has become a topical issue we have been increasingly aware of. The application of these fundamental principles in the practice of public management is achieved by optimisation of the management responsibility towards an adequate and effective internal control. The present paper discusses issues related to the need to control the management of public resources and in particular to the role, the importance and the practical application of financial management and control as a key mechanism in the management of public sector organizations in the Republic of Bulgaria.
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Hristo Sirashki
Trends in Project Portfolio Management
Summary:
The article is devoted to some aspects of the system of project management activity in project oriented organizations as there is more and more growing interest of the organizations in Bulgaria to project management usage. The main motive for this probably is the becoming aware necessity of the organizations to improve their managerial processes. The purpose of the article is to shape out some of the advantages of the Project Management Office (PMO) as an element of the system of project management and also its role in project portfolio management in project oriented organizations.
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Petyr Banchev, Penka Goranova, Zhivka Tananeeva, Venka Dinkova
Customer Relationship Management (CRM) – Strategies and Application
Summary:
The application of the strategies for management of relationships with customers gives a possibility for the enterprises to increase their incomes through:
- realising of products and servies on the market, that correspond to the consumption needs of the customers;
- improvement of service and working with customers;
- optimizing the process of negotiating with the customers;
- keeping existing and attracting of new customers;
- more effective realization of the enterprise products.
The basic goal of the work is on the ground of the leasing theoretical concepts and research of the practice existing in our country to genreate ideas for giving assistance to Bulgarian enterprises in their ambition to implement new methods and approaches to keep the present key customers, as to suggest other approaches for working to attract new customers, which will broaden the marketing presence with (marketing share) and to increase competetiveness of the business.
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A. V. Bulavynets
Management of Loan Capital in Financing Structure of The Enterprise: Theoretical and Methodical Foundations
Summary:
In the article are explained the essence of the concepts of "loan" and "borrowed" capital. We considered that the loan capital of company characterizes part of the financial resources of the enterprise what is temporarily involved in economic activities and they can be sent to the capital market for additional income from the investment. It is advisable to understand that the borrowed capital is the financial resources of the enterprise, not belonging to him by right of ownership, but raised them in economic activities from different sources and in different forms on terms of maturity, repayment and interest payment in order to fulfill the objectives of the program of its activities.
The theoretical and methodical principles of borrowed capital management have been investigated, in particular: the directions of management (planning and capital employed, assessing the efficiency of capital employed, monitoring the timely servicing and repayment of debt); characterized by the principles on which is based capital management (accounting principle prospects of development of business, the principle of matching amounts of borrowed capital and the formation of the assets of the enterprise, the principle of optimality of capital structure from the standpoint of its effective function, the principle of ensuring the efficient use of capital employed in the course of economic activity).
Criteria of optimization of the borrowed capital to calculate its weighted average cost and term borrowings have been proposed.
A formula procedure for determining the weighted average cost of borrowed capital employed, which is based on the approximation of streaming method has been developed.
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Alexandar Angelov
Supply Chain Management in Low Demand Intensity for Electrical Products and Reducing Delivery Volume
Summary:
The present study is developed in three paragraphs. The first one provides information regarding different types of supply chains, with an emphasis on the two- echelon linear supply chain. Secondly, preview of theoretical aspects of the models for researching and simulating the inventory management is conducted. The second paragraph adapts a methodology for inventory management comparative analysis by economic order quantity and supply chain model, depending on demand and reduced supply quantity. The third paragraph presents an empirical results analysis that consequently confirms that when managing inventory in the supply chain, the overall costs are lower.
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Evgeni Raykov
Working Capital Management in Bulgarian Public Companies – Empirical Analysis during the Financial and Economic Crisis and Post-Crisis Recovery
Summary:
Modern financial analysis has become more responsible in line with the growing role and functions of financial management for providing reliable information base. It materializes in new control procedures and methodological approaches to analysis that identify more precisely the impact of the external environment and internal resources to maintain the balance between profitability and liquidity. Examined trends in Bulgarian companies have shown variable profitability of current assets as a result of dynamically changing turnover and uncertainty in terms of sales. Low profitability and return on total assets was the result of the negative effect of long-term investment policy before and during the crisis of 2007. Sound liquidity ratios demonstrate stable performance through its adjustment by changes in short-term liabilities and the rise in overall liquidity reflects the priorities of financial management for balanced management of working capital.
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Andrey Zahariev, Stefan Stanimirov, Nikolay Todorov Zdravkov
Managerial Financial Model of an Insurance Broker in Bulgaria - Methodological and Applied Aspects
Summary:
The object of research are the insurance brokers in Bulgaria, and its subject is the methodological framework for building a management financial model of an insurance broker in Bulgaria. The leading thesis in the present study is based on the statement that the optimal financial management of a brokerage company in the insurance sector in Bulgaria requires the construction of a complex model based on the control of the financial value of the company, which allows to compare the attractiveness of various business lines, through which to develop those of them, bringing the greatest increase in the value of the company. The purpose of the development is to justify a methodological framework for building a comprehensive financial management model based on the control of the financial value of the company, which allows by forecasting the benefits and costs to compare the attractiveness of different business lines for development and expansion. The focus is on gross premium income from corporate insurance and retail brokerage. As a result of the research, forecast values for the period 2019-2023 are generated, first the exogenous variables are predicted, and on their basis - the main target variables. The constructed model has an extremely high descriptive ability - as for the historical period the two curves - with real reporting data and the modelled one - practically coincide. On this basis, the forecast part can be considered relevant for the purposes of the management financial model. Similar results are achieved in the modelling and forecasting of retail premiums, which is the basis of the insurance broker's profit.
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Desislava Aleksieva
Communication Management in Co-Activity Environment
Summary:
Communication is an essential part of the management activities. It appeared and developed under the influence of several factors in a defined medium.
The ability to influence management communication affects and forms co-actors – positive, negative and neutral; and contributes to the total score and specific relationships in the organization.
The structure of the article is as follows: introduction; part one presents the role of co-activity environment managerial communication; part two presents policy and law as a compensatory mechanism of the co-activity system; part three examines the development of management relations in terms of co-activity; and conclusion.
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Hrabrin Bashev
Governance Modes for Supply gf Agro-Ecosystem Services by Agricultural Farms in Bulgaria
Summary:
Despite growing environmental issues, and increasing public and private interests, scientific studies on the management of agroecosystem services are at the beginning stage. This article incorporates the interdisciplinary New Institutional Economics framework, and identifies and assesses diverse private, market, collective and public modes of management of ecosystem services applied by the Bulgarian farms. The study has found out that farms of the country use a great variety of private, market, collective and public modes of governance of farm activity related to agroecosystem services. There is significant differentiation of employed managerial forms depending on the type of ecosystem services and specialization of agricultural holdings. Management of agroecosystem services is associated with a considerable increase in the production and transaction costs of participating farms as well as big socio-economic and environmental effects for holdings and other parties. Factors that mostly stimulate the activity of Bulgarian producers for protection of agro-ecosystems and their services are participation in public support programs, access to farmers' advice, professional training, available information and innovation, received direct subsidies, personal conviction and satisfaction, positive experience of others, long-term and immediate benefits for the farm, and integration with suppliers, buyers and processors. Suggested holistic framework for analysing the system of management of agro-ecosystem services is to be extended and improved, and widely and periodically applied in the future.
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Beata Skowron Mielnik, Marcin Golembski
Shared Service Centers as a Tool for Organizing Flexible Personal Function in an Enterprise
Summary:
Polish Association of Human Resources Management (PSZK) there have been identified four main job market challenges in Poland [Czy polscy pracodawcy … 2011]. There are as follow: motivation adjusted to age and sex; lack of talents; retention of talents; and transformation of HR function.The analyses of situation in the scope of the last challenge mentioned shows that a lot of managing personal function workers have got ambition to act a leading strategic role in an enterprise. However, they admit themselves that personal departments are still reduced to a role of a business support or an administrator. The weak side of Polish organizations remains effective measurement of personal function especially rate of return from human capital investment. If personal function is to fulfill role of strategic partner it needs to change an attitude for more professional one in an organization. Desiring to be a business partner personal departments ought to make earnest assessment of their current activities and plan possible development areas for them. Measurements of effectiveness of personnel function should be an active base as though personal departments were able to have strategic function in an organization. Such transformation demands form personnel departments transferring their engagement on new fields and as a consequence reorganizing administration processes through their automation and outsourcing. The aim of the article is to show a meaning of flexible organization of personal processes within contemporary entities and introduction of common center services as a optimization tool and flexible organization of personal function in an enterprise. There are pilot research assessments presented in the article concerning SSC/BPO serving HR processes. The article has got a cause character and is a base for further deepened direct researches.
