Yearbook of UNWE is a peer-reviewed academic journal of the University of National and World Economy in Sofia. Established in 1922 as a prestigious forum for fundamental economic and social research, the journal today serves as a bridge between tradition and modern scientific standards. While retaining its historical title, the journal operates as a biannual periodic edition, publishing high-quality theoretical, methodological, and empirical studies. It welcomes comprehensive contributions on the interactions among economic dynamics, societal change, and sustainable development, including conceptual papers, synthesis studies, and in-depth empirical analyses. The journal uses an Online First publication model. Accepted manuscripts are published online promptly after peer review and editorial processing. The average peer review period is 6 to 8 weeks, depending on reviewer availability and the revision cycle. Access: Open Access (Diamond model – no fees). Language: English Frequency: Biannual (two issues per year) Publisher: “UNWE Academic Publishing House” ISSN (print): 1312-5486 ISSN (online): 2534-8949
University of National and World Economy
Authors retain copyright to their works. All publications are distributed under the terms of the Creative Commons Attribution 4.0 International (CC BY 4.0) license.
A Comparative Analysis of Innovation in Industrial Companies in Bulgaria and in the EU
The present research interprets innovative analysis as concentrating on the characteristics of industrial companies and their business environment which influence innovation and its results. The research focuses on industrial companies in Bulgaria and the developed countries of the European Union, as well as their general and specific environment.Initially the paper outlines the characteristics of the EU policy targeted to provide incentives for new ideas and put the innovative theory into practice, i.e. achieve its successful marketing. The research is based on a range of documents generated in certain European institutions. The goal of the research is to determine the political attitudes posing new requirements for Bulgarian industrial companies wishing to preserve or create a competitive advantage during the process of accession to the EU.In comparative perspective, the paper looks at the general and the specific environment typical for the operations of the industrial companies in the developed countries of the EU and their Bulgarian counterparts. The findings of the research aim at deducing and comparing the tasks to be addressed by the management of these businesses. These tasks are differentiated by areas: markets, marketing, production and innovations.Innovation in Bulgarian industrial companies has been analyzed in the following fields: technological standards, innovation activity, partnership in innovation, innovation funding and innovation barriers. The findings of the analysis have enabled us to draw a list of challenges facing the management with regard to innovation in the process of integration with the European Union. Recommendations for the management have been formulated in the following areas: strategic management, innovation planning, innovation process organization and implementation of innovative projects.
Copyright (c) 2004 Ivan Georgiev, Tsvetan Tsvetkov (Author) https://creativecommons.org/licenses/by/4.0
The Influence of the Common Agricultural Policy on Production after Bulgarian Accession to the EU
The expected results after applying the CAP's measures in Bulgaria are contradictory. Concerning the crop production the effects of CAP's measures are estimated to be positive. The areas under cereals and sunflower will increase and as a result their production will grow. Since the expected change in the consumption of these products is insignificant, the exported production is likely to increase.The CAP impact on the sheep-breading will be also positive. After the support for the producers in the sector, the number of animals will increase, as well as the production of lamb and mutton. As it concerns the cattle-breeding the results are contradictory. The restriction of milk quota will lead to considerable decrease of milk, veal and beef production.The lower effects from CAP for the agriculture and the highly negative results for the cattle-breeding are due to many factors. The low level of the agricultural production in Bulgaria in the pre-accession period influenced the negotiations with EU for support in the sector. The expected low CAP's effect from the majority of the small semi commodity producers in the country, as well as numerous institutional problems are also among the determinative factors that leaded to, some extent, disappointing results.
Copyright (c) 2004 Plamen Mishev, Nedka Ivanova (Author) https://creativecommons.org/licenses/by/4.0
Opportunities of Designing and Using the Money Circulation Balance
The present study is dedicated to the necessity for expanding research and experiments in line with the increasing role of money in the globalizing economy. It is based upon the conclusion that at the present moment there are no reliable instruments for macroeconomic cover and presentation of the objectively existing money circulation, together with the fact that part of the theoretical and practical problems related to this circulation is not solved.The first part of the study examines the opportunities of designing a money circulation balance. It highlights the following issues:The theoretical fundamentals of this balance, including: the opportunities of using accounting principle of double entry of money flow, the necessity for aggregating economic agents, the need for identification of money flows within aggregate Мз and the opportunities of information providing of balance;The patterns of money circulation balance, presented through a brief historical review starting from the well-known “economic table” of Fr. Cane and ending with the established “national accounts” in order to reach the conclusion that a dynamic matrix balance of money circulation should be constituted; andThe information providing of the suggested balance through analysis of the existing opportunities together with a proposal for realization through adapting the widely used not only in Bulgaria, but also worldwide accounting standard №7 Money Flows Statement. The second part of the study is dedicated to the use of the offered dynamic matrix balance of money circulation. Specific examples illustrate the opportunities of using it for:conducting a more efficient and adequate monetary policy, consistent with both the demand for money and the influence of money circulation on the issue result/change in money supply; the change in money supply may take the form of an increase in money stock, withdrawal of money from circulation and/or preserving money stock unchanged;more precise determination of money velocity through the number of its turnovers while using the aggregate of all money flows instead of the Gross Domestic Product;enrichment of vertical and horizontal structural analysis of money circulation;tracing chain dependencies between money flows within the money circulation and their influence on money supply on the basis of an example linked to a change in corporate income taxation and creation of matrix of coefficients that helps in formulating respective prognostication balances after the total amount of money circulation has been forecasted.In conclusion, the present study suggests that future research and implementation of the suggested pattern for money circulation balance can be accomplished either by the Bulgarian National Bank or by the National Statistics Institute.
Copyright (c) 2004 Metodi Hristov (Author) https://creativecommons.org/licenses/by/4.0
European Integration and the Challenges Confronting the social Policy of Bulgaria
The paper reviews the main guidelines of the social policy of the European Union and the important stages of social integration processes and outlines the practical initiatives on the part of Bulgaria necessary for the preparation of the country for the full membership in the EU. It is emphasized that coordinating Bulgaria social legislation with that of the European Union is only a first step in the integration processes per se. The research specifies the reasons why Bulgaria is lagging behind in the social sphere, and the findings underlie several principal challenges for the social policy of Bulgaria.These challenges may be formulated as follows: in social and political practice the point of departure should be viewed as a trinity of “education-employment-living standard”. Prerequisites for a higher quality of life for Bulgarian citizens should be created bearing in mind limited financial resources for health care, education and safety; social policy should turn into a factor of productivity which means new input into the human capital. The new challenges require a change in the quality of the very system of social safety which should envisage safeguards to motivate and encourage people to be more active and independent. As a conclusion the author argues that while adopting the principles and the spirit of the European social policy as a whole, Bulgaria should comply with the national characteristics, traditions and positive precedents of the past.
Copyright (c) 2004 Dushka Dimova (Author) https://creativecommons.org/licenses/by/4.0
European Future of Bulgarian Economy (Is in the Mind and Hands of a Bulgarian)
The paper interprets some issues of the European future of the Bulgarian economy outlining the prerequisites necessary to ensure the most efficient and favorable manner of the country’s accession to the European Union (EU) and its integration in it. It is stressed that the European future of the Bulgarian economy is in the heart and mind of Bulgarians, in other words, this future is what can be imagined by a Bulgarian to be subsequently created and put into practice. The author emphasizes that in order to become an equal and worthy participant in a dialogue with the EU regarding its future presence in a United Europe, the country needs its own well-founded vision of its EU future.The Bulgarian membership in the EU and a European future of the Bulgarian economy are interpreted in their different aspects. It has been argued that the country’s membership in the EU represents a new opportunity of crucial importance for the development of Bulgarian economy. At the same time it may be regarded as a significant constraint of this development. Consequently, the study goes on to explore the thesis that the European future of the Bulgarian economy is a major challenge for the mind and hands of a Bulgarian. Moreover, the future of the Bulgarian economy in the United Europe presents an ordeal, a critical responsibility for the mind and the heart of a Bulgarian. It is furthermore argued that the process of accession and integration of the Bulgarian economy in the EU is a major initiative of extreme complexity and responsibility requiring a mobilization of efforts, energy and talent of the entire nation. Hence one the principal imperatives for the success of this initiative is identifying the responsibilities and rights of every entity with regard to the implementation of the accession strategy. The paper addresses the issues of “lawful” skepticism of Bulgarians in respect of every new policy, including that of accession and integration.The author argues that in the long run, the EU membership should be viewed as multi-faceted and versatile, a step of critical importance for Bulgarians. Consequently, the more this matter has been explored and clarified, the more successful practical measures adopted for its implementation are likely to be. It is argued that the accession and integration of Bulgarian economy in the EU is an objective process which however may be occur in different ways – as a success or failure, in an acceptable or an unacceptable way, Undoubtedly the accession and integration of the Bulgarian economy in the EU is in the interests of the country, but this process is in the interest of Bulgaria as an objective possibility which may be benefited from or wasted.Subsequently the study interprets the idea that the accession of Bulgarian economy to the EU represents an objective process in its inherent character and is part of the process of integration and globalization world-wide. Thus Bulgarian membership in the EU does not signify the country’s isolation from the rest of the world. In other words, Bulgaria’s relations with the EU, on the one hand, and its relations with the rest of the world including Russia, on the other hand do not constitute an “either or”, but rather a “both.. and” relationship.The next section of the paper deals with the relationship between the processes of accession and integration, on the one hand, and a transition to an economy of knowledge, on the other hand. It is argued that the above should go hand in hand, as a single process. The requirements of the EU to Bulgaria as a prospective member state have also been given pride of place. It is suggested that the success of a strategy and policy of accession and integration of Bulgaria within the EU will depend on the extent it meets the objective logic of development and the new realities of the XXI century as well as the requirements imposed by the EU on Bulgaria as a prospective EU member. The paper examines and interprets the criteria for accession and integration in the European Community. The emphasis is laid on the fact that successful implementation of the accession and integration process is in direct relation to the degree the country has been meeting the accession and integration criteria. In this context the accession and integration criteria have been interpreted as an imperative of behavior on micro-, regional- and macro level. Special attention has been directed to the issue of the lessons of the evolution of the EU regional policy. It is argued that it is due to the understanding of the EU regional policy and its evolution that both the requirements imposed by this policy for the regional development of Bulgaria, and the openings for the country’s development may be inferred.At the same time the paper attempts to outline the tendencies for a future change in the regional policy of the EU as a guideline for the integration process management system. This section of the paper lays a special emphasis on the “natural conflict” between the EU member countries and the EU candidates regarding the use of the resources from the structural funds of the Community. In order to develop a high quality system for Bulgaria’s accession and integration in the Union it is necessary to identify and interpret the key problems relating to the economic development of Bulgaria. It is argued that on the one hand these problems pose certain important requirements for the future development, and on the other, they serve as constraints for the development and the process of integration. Subsequently the paper attempts to define competitive advantages of the economy of Bulgaria interpreting their role for the processes of accession and integration of the country. In fact, the author argues that in order to develop a high quality accession and integration strategy it is necessary to identify the advantages of the national and regional economies compared to all other economies.At a subsequent stage, based on the arguments and ideas interpreted and advocated in the preceding sections of the paper, the author goes on to discuss the type of strategy required by the process of the country’s accession and integration to the EU. There is no denying that Bulgaria indeed needs a unique high quality of accession and integration strategy. This is why the development of an integration strategy of the country within the EU is of critical significance for Bulgaria as a key research priority. To contribute to this research the author discusses the role of foreign assistance in the development and implementation of an integration strategy, typical of Bulgaria. The paper also examines the conditions for developing an integration strategy of the country with a view of the changes in the environment for these processes. These changes should be regarded as irreversible – a transition to “an environment without laws.”Finally, the paper argues that it is necessary to have a discussion on the development of an accession and integration strategy. The author emphasizes the necessity to comment on the role played by science in the development of “an architectural project” for the accession and integration of the Bulgarian economy in the EU.
Copyright (c) 2004 Vasil Manov (Author) https://creativecommons.org/licenses/by/4.0
Industrial Policy of Competitive Power and Growth
In the last decade of the past century the Bulgarian industry entered a prolonged crisis due to complex internal and external factors typical of East European economies in transition. The new market realities, including those of an internationalized economy, introduced new challenges for the industry, mainly involving its competitiveness. By and large, it has not succeeded in dealing with these challenges.The emerging tendency of the country’s industrialization has brought forward a number of crucial issues.What is the potential of the industry and what shape the model of industry development should take in order to secure the increased competitiveness in view of the forthcoming accession of the country to the European Union? What industrial sectors, production facilities and products have an available market potential and competitive advantage?How can the state and the business oppose the competitiveness crisis in the industry and secure prerequisites and conditions to achieve and update competitive advantages and growth via a jointly developed and jointly pursued industrial policy? The paper seeks to address these complex issues. Its content is mainly targeted on pragmatic and applied aspects, including the state of the industry and its sectors, and aimed at outlining the approaches and tools geared to bolster and stimulate industrial growth.The industrial policy and more specifically, its main points of departure are viewed in terms of accelerating the processes of transition from a resource-intensive stage of industrial development to investment and innovation oriented stages of development.The paper also poses a number of problems, with the author’s arguments defending a certain stand, i.e. priorities in the industrial policy of the country, the ensuing support on the part of the state to meet the political targets, etc.
Copyright (c) 2004 Yosif Iliev (Author) https://creativecommons.org/licenses/by/4.0
On the Prospects of the National Economy after the Accession of the Republic of Bulgaria to the European Union
The paper is an attempt to analyze the opportunities and risks for the Bulgarian economy after the country’s accession to the European Union (EU).The analysis of the historical development of relations between Bulgarian and EU in the context of radical socio-political and economic transformation in our country enables a conclusion that the EU has become a principal foreign economic partner of Bulgaria. The upward trend in the relations between Bulgaria and EU has resulted in a number of serious problems.A critical assessment of the degree of Bulgaria’s readiness to join the EU underlies the inference that the first 2-3 years after the accession are likely to see great risks for our economy.Certain basic requirements for the policy to be pursued by Bulgaria as an EU member have been formulated. The author argues that Bulgaria needs an active macroeconomic policy with the main priority on providing steady rates of economic growth as a precondition for overcoming huge economic, technological and social backwardness of the country. In order to achieve a successful implementation of the accelerated economic growth policy the latter should be complemented by efficient national policies in a number of other areas – investment, attracting direct foreign investment, research and technological development, education, and personnel training.
Copyright (c) 2004 Velko Marinov (Author) https://creativecommons.org/licenses/by/4.0
Bulgarian Business, Entrepreneurs, and Managers in the Context of Bulgaria’s Accession to the EU: Challenges and Possible Solutions
Bulgaria’s accession to the EU goes hand in hand with growing opportunities and challenges which confront Bulgarian businesses, entrepreneurs and managers. Solutions should be sought to deal with these challenges. It is becoming increasingly clear that the EU membership has not positive effects alone, but poses problems of increasing complexity for both big size businesses (BB) and (especially) small- and medium-size businesses (SMB). The identification and meeting the challenges of the EU integration for Bulgarian businesses, entrepreneurs and managers is precisely the focus of the present research.Firstly, the paper outlines the summary of the experiences of some of the 10 new EU members (mainly, Poland and Hungary) which serves as a point of departure in the analysis, as well as in the evaluation of the influence of the process of integration in Bulgaria. Secondly, concrete challenges of the EU membership for Bulgarian businesses, entrepreneurs and managers are analyzed. Two principal groups are distinguished: a group related to the problems of management and the conduct of managers and entrepreneurs, and a group involving the introduction and operation of different regulations, standards and practices.The paper lays a special emphasis on the current situation and conduct of Bulgarian businesses, entrepreneurs and managers, with a differentiated analysis according to the inherent specifics of BB-s and SMB-s, ranging from the level of their competitiveness as a whole to individual component processes.Finally, the paper outlines the principal guidelines for the solutions of the identified challenges; branch unions (chambers) and NGOs, as well as the business level (businesses, entrepreneurs, managers). Its argued that one of the greatest weaknesses not only in the context of the EU accession but typical of the Bulgarian economy and society as a whole, is its failure to combine the efforts of different levels and its lack of focus. It is a must to cope with these problems.
Copyright (c) 2004 Kiril Tod (Author) https://creativecommons.org/licenses/by/4.0
Human Resource Management – A Necessary Transition from Theory to Practice in Bulgarian Corporate Business
The paper studies a range of critical problems in human resource management as corporate practice in Bulgaria. The approach adopted and, above all, the findings of the analysis and the current situation appraisal are intended to draw upon real achievements of the science of human resource management and the best existing foreign corporate practices in this field.The author argues that a considerable lagging behind in human resource management of Bulgarian companies as opposed to their foreign competitors, and the research in human resource management have turned into factors undermining their competitiveness – in other words, no lasting competitive advantage has been secured by means of the human factor.The paper gives a detailed outline of the approaches and specific guidelines aimed to achieve an advance in the improvement of human resource management and a boost of its contribution to increased corporate competitiveness.
Copyright (c) 2006 Yosif Iliev (Author) https://creativecommons.org/licenses/by/4.0
Monetary Convergence En-route to Euro-Zone: Theoretical Problems
A traditional understanding of monetary and institutional convergence related to the theory of optimum monetary zones (OMZ) is confined by several restraints. Firstly, it fails to allow for the condition of the monetary institutions, formal and informal alike. This type of the interpretation of convergence, which is more typical of the industrial stage, does not account for the changes which have taken place in the globalized information society. It regards convergence, above all, qualitatively as an aggregate and entirely mechanic phenomenon. Hence the idea of convergence is dissociated from reality, although it acquires certain possibilities to be gauged. This type of convergence fails to take into account the institutional characteristics and differences between individual eastern European countries, including Bulgaria.The sole yardstick to judge the efficiency of the monetary regime adopted is the extent it has served to meet the Maasricht criteria. The above weaknesses may be overcome in two ways: The first way involves considering the institutional aspects of the currency while looking at the entire framework of the “institutional monetary convergence”. The second approach involves adopting the model of institutional competition, or at least a partial institutional competition, between the monetary regimes of East European countries in the process of euro adoption (such as allowing the circulation of the euro alongside the national currency).
Copyright (c) 2006 Nikolai Nenovski (Author) https://creativecommons.org/licenses/by/4.0
Bulgarian Entrepreneurship in the United Europe: Challenges and Opportunities
The paper aims to identify the challenges (dangers) and the openings confronting Bulgarian companies, entrepreneurs and managers as a consequence of the country’s accession to the EU. For this object, I have analysed the positive and the negative impacts on business in the 10 new members of the EU, as well as the conditions of the Bulgarian small and medium-size businesses and the readiness of its entrepreneurs and the managers.Based on the findings of the analysis, the guidelines for possible solutions of the problems thus identified and the emerging business opportunities in the EU have been formulated. The recommendations for the solutions target all institutions and vested interests concerned – “policy makers"; employers’ and sectoral organizations; companies, businesses, entrepreneurs, managers, researchers, coaches and consultants.
Copyright (c) 2006 Kiril Todorov (Author) https://creativecommons.org/licenses/by/4.0
Отвореност и растеж на националната икономика
Представената студия е посветена на изследването на въздействието на отвореността върху растежа на националната икономика. Изследването се концентрира върху разкриването на конкретните насоки на въздействие на 2 форми на външноикономически връзки – външната търговия и притока на преки чуждестранни инвестиции – за растежа на отделната национална икономика. Тези насоки са особено ясно изразени при Р България, която може да се разглежда като типичен случай на “малка отворена икономика”. Анализът аргументира извода,че ускореното нарастване на износа на стоки и услуги през последните 5-6 години е основен фактор за растежа на българската икономика. Тази роля на националния износ в значителна степен се отслабва от неговата архаична структура.Преките чуждестранни инвестиции повишават икономическия растеж в България преди всичко чрез въздействието си върху инвестиционния фонд в страната. Ключова роля в това направление играят инвестициите “на зелено” и тези за разширяване дейността на установилите се чуждестранни филиали. Сравнително ограничена е ролята на чуждестранните инвестиции при трансфера на модерни технологии към нашата страна.По-пълното оползотворяване на потенциала на отвореността за въздействие върху растежа на нашата национална икономика изисква разработването и последователното осъществяване на обоснована стратегия за структурна и технологична модернизация на българската икономика и конкретни политики в широк кръг области (в т.ч. в сферата на научните изследвания и технологичното развитие, образованието и подготовката на кадрите, инвестициите и т.н.). Присъединяването на страната към Европейския съюз прави необходимостта от подобна стратегия и политики още по-актуална.
Copyright (c) 2006 Velko Marinov (Author) https://creativecommons.org/licenses/by/4.0
Market Indice Analyses of Top Ranking Public Limited Companies in Bulgaria in the Period 2000-2005
The study aims to identify the connections between the market indices of public limited companies and the development of the capital market under the conditions of a transition to a functioning market economy. The analysis has shown that during the period surveyed - between 2000 and 2005, the indices “net profit” and “net monetary flow” for the public limited companies analyzed were subject to a considerable variation and often took on negative values. This fact indicates a considerable business and financial risk, as well as a virtual absence of profit and net monetary flows management broken down by years.The indices calculated on the basis of net profit and net monetary flows are unsuitable for comparing and assessing the capital market. For this reason the consolidated data reflect the indices “Price/ Receipts per Share”, “Price/ Long-term Assets per Share”, Price/ Assets per Share”; and Price/Equity per share”.In conclusion, it is stated that the results of the policy intended to develop the capital market mark a very favourable trend; however the market incentives should continue under the new conditions after Bulgaria’s accession to the European Union.
Copyright (c) 2006 Margarita Aleksandrova (Author) https://creativecommons.org/licenses/by/4.0
Bulgarian Institutions of Higher Education as a Competitive System – In Search of Solutions
Bulgarian higher education is undergoing a process of dynamic change due to a number of reasons of both more general and more specific nature. The quality and effectiveness of the process of education as coordinates of its competitiveness represent the underlying structural areas of the academic reform. This makes it imperative to acquire familiarity with the competitive environment of higher education and the entrepreneurial type of management with regard to its competitive factors, including those described as extensively integral: i.e. private institutions of higher learning and foreign subsidiaries offering higher education.
Copyright (c) 2006 Pano Lulanski (Author) https://creativecommons.org/licenses/by/4.0
In Search of Opportunities for Quantification of Competitiveness of the Tourism Product
In the center of attention of the different directions for assuring of competitiveness of the tourism product, continuously stands the problem for assuring of its quantification. For the solving of this problem miscellaneous and quite often alternative solutions are being proposed. The common conclusion is, however, that many of these solutions are unacceptable. For the thorough solution of the problem in regard, we suggest two criteria to be used, namely the criterion for the production elaboration of the product and for its selling realization. For quantified expression of the first of these criteria, there could be used the indicators for the infrastructure; for the superstructure, for the product nomenclature and the range, for the quality, the price and the environmental sustainability.For the second criterion, which refers to the selling realization of the product, we apply the indicators for the form of servicing, for the work time of the tourism site, for the time for performing of the services, for the servicing environment, for the outlook of the servicing personnel, and for their attitude towards customers. In order to measure the values of the above-mentioned indicators, we suggest the technical, the organoleptic and expert method to be used. For the measurement of the competitiveness we implement the differentiated, the complex and the combined methods taking in account the parameter of significance, as well. This allows us to evaluate competitiveness not only by use of single indicators, but also by complex ones, thus defining and drawing out the general and the integral indicator for competitiveness.These is no doubt that the problems concerning the quantification of the tourism product competitiveness will find their further development in the evaluation of the work force competitiveness and in the search of dependencies upon the competitiveness of the created by it product in the financial and non-financial sphere.
Copyright (c) 2007 Manol Ribov (Author) https://creativecommons.org/licenses/by/4.0
In the research is analyzing theoretically and empirically the competitiveness of the health care in Bulgaria comparing EU through constructing of index for 2000-2004/2005 . In calculating the health care competitiveness index (HCCI) are used 21 indicators from the Data Base of WHO “Health For All”. The conclusions show, that the healthcare system in Bulgaria works better since 2000 when are started health reforms, as HCCI is increasing from 2.98 to 3.14. This is the lower level of competitiveness towards the EU member countries average (4,83-5,12), as well as EU-10 (3,39-3,97).
Copyright (c) 2007 Evgenia Delcheva (Author) https://creativecommons.org/licenses/by/4.0
Sustainable Development and Market Competitiveness
The study is focused on the relationship between sustainable development and price and non-price competitiveness on the world market. We argue that this relationship is always positive in the long run because of two main reasons: first, any decrease in energy and material consumption per unit of product has double positive effects: (a) cost saving and (b) lower emission of pollutants. Second, goods with higher environmental parameters receive higher assessment from the consumers which improves the market positions of their producers and exporters.However, the same relationship has contradictive character in the short run. In principle, the environmentally friendly technologies and products suppose higher initial investments. It may lead to competitive disadvantage for some companies or even some national economies if their environmental standards are higher than the same standards in their trade partners. The author comes to the conclusion that sustainable development and market competitiveness could be mutually supportive if the WTO and other international bodies achieve certain harmonization of the environmental standards.
Copyright (c) 2007 Rumen Gechev (Author) https://creativecommons.org/licenses/by/4.0
SME-Specific “Profiles”, Strategic Potentials and Attitudes toward Internationalization in the Enlarged EU
Entrepreneurial attitudes such as "willingness to change" and "taking risks" in a nowadays widened European context may be considered crucial prerequisites of success, especially under conditions in times of dynamic change as, e.g., enlargement of markets in the process of EU integration with resulting challenges for necessary adjustments and strategic responses. The question, thus, arises which in such an environment might be the more adaptive or appropriate entrepreneurial "type"?Questioning, thereby, perhaps more pointedly: Do entrepreneurs - and if so, how (?) - react, when confronted with such challenges? Do they react at all, and if so again, are there any discernible behavioral patterns of pro-active response and strategic adjustment?
Copyright (c) 2007 J. Hanns Pichler (Author) https://creativecommons.org/licenses/by/4.0
Outpacing Economic Growth and the Competitiveness of the Bulgarian Economy (Macroeconomic Perspective)
The objective of the study is to examine the outpacing economic growth and the competitiveness of the Bulgarian economy in the beginning of the 21st century. The first part of the study proves that in 2001-2006 the growth of GDP approximated 60% of the possible and necessary rate. In the years of the market transformation (1989-2006) Bulgaria was one of the slowest developing economies in CEE and this fact is unlikely to ensure its meeting the strategic goals of development by 2020. The GDP growth in the next decades should exceed by 2,5 -3.5 times the anticipated high rates of growth of the EU. Bulgaria needs not only an accelerated development but an outpacing development since any type of outpacing development is accelerated but not every type of accelerated development means outpacing.The second part of the study puts forward a system of economic competitiveness indexes. 14 result-oriented (direct) and 9 factor-oriented (indirect) indexes are recommended. All of them confirm that Bulgaria is the least or one of the least competitive economies among the EU member countries. The findings also bear out a high correlation ratio between the direct and the indirect indicators. Some indexes have marked a slow improvement but most of them suggest stagnation of competitiveness. Decades will be needed to catch up with average competitiveness indexes in the EU, which is an even higher figure compared to what is needed to catch up with the overall economic growth measured by GDP per person.
Copyright (c) 2007 Ivan Angelov (Author) https://creativecommons.org/licenses/by/4.0
The Human Potential of Economic Growth and the Competitiveness of Bulgarian Economy. Economic and Social Measurements
The study addresses some of the most topical issues of the economic and social development from the viewpoint of globalization, European integration and the prerequisites for Bulgaria’s efficient participation in these processes – competitive economy and social security. Based on some state-of-the-art concepts of economic development and the European policies and strategies of economic and social progress the paper poses a number of questions of methodological, and mainly of political and strategic nature with regard to the openings of achieving tangible economic results for the people of Bulgaria.The author considers that there is untapped human potential for the development of economy and an increase of income. This is predetermined by the nature of macroeconomic and social policy, of underrating the possibilities of the human factor in organizations, as well as of its quality and motivation for productive work, research and innovations. Competitive production means, above all competitive work force. The evaluation of the economic performance and the qualities of the human resources should be based on the international comparisons and standards which would enable a different assessment of the performance and the possibilities that have failed to materialize.The study focuses mainly on the nature of the modern economic development, the challenges of demographic ageing and high mobility of the population, the role of the knowledge economy, the ongoing research and the quality of the human factor for the growth and competitiveness, new forms of employment and openings for a more efficient and higher-quality employment. The author argues that the policy of economic development should target a larger-scale and higher quality employment which would the basis for achieving higher social safety. Greater employment should be one of the main targets of education while its strategies should be geared to providing quality education and training of the people who not only know , but who can achieve things, who possess creative potential and motivation to contribute to a better performance of the country at large. This presupposes that increasing a highly efficient employment will become the highlight of the economic, social, educational and health policies.
Copyright (c) 2007 Katya Vladimirova (Author) https://creativecommons.org/licenses/by/4.0
Foreign Direct Investment and SME Development: Some Policy Issues for Transition and Developing Countries
The paper is concerned with one of the ways of contributing to strengthening the indigenous SME sector in a situation of resource scarcity. Specifically, the paper is concerned with the potential role of foreign direct investment (FDI) in relation to the long-term competitive development and internationalization of the SME sector in transition and developing countries. Whilst this is not a new topic, a number of recent trends suggest there may be greater scope for developing such linkages in the future than in the past.These include the emergence of new sources of FDI in developing and emerging economies themselves; increasing signs of SMEs internationalizing their operations rather than simply exporting from their domestic base, as well as a continued increase in outsourcing by MNEs. Whilst such trends undoubtedly present challenges to SMEs in transition and developing countries, they also present opportunities.More specifically, the paper aims to contribute to the development of policies that can help to strengthen the SME sector in developing and transition economies, through promoting their integration into, and potential benefits from, the global economy. This involves firstly, policies to increase the attractiveness of transition and developing economies for foreign investors, who are willing and able to contribute (indirectly) to the strengthening of the capacity of the SME sector in these countries; and secondly, policies designed to strengthen the benefits of foreign investment to local economies through the facilitation of SME trade and investment linkages and building the capacity of local SMEs to take advantage of new market opportunities created. The challenge for governments in all countries is to create a facilitating and supportive environment for SME development that enables SMEs to exploit the potential benefits arising from increasing internationalization, whilst avoiding becoming protective or intervening in ways that displace, distort or crowd out market solutions and, ideally, helping to contribute to building market capacity.The paper represents a review of existing literature and case material, rather than being based on original empirical evidence. Following the introduction, the rest of the paper is divided into two main sections and a conclusion. Section 2 reviews recent trends in FDI; the potential benefits of developing FDI-SME linkages, together with an assessment of the evidence of such relationships in practice. Section 3 considers the main policy implications of the analysis, paying attention to policy making in different contexts, including public policy makers in mature market economies as well as in developing and transition economies; but also business policy makers in FDI enterprises and SMEs in a developing/transition economy context.
Copyright (c) 2007 David Smallbone (Author) https://creativecommons.org/licenses/by/4.0
Activation Policies: New Modes of Governance and the Issue of Responsibility
Most activation policies are based on a simplistic conception of responsibility: behaving responsibly coincides with quickly reintegrating the labour market. Local welfare agents are called to push beneficiaries to actively endorse this goal. But the issue of responsibility is much more complex. Drawing on Sen’s capability approach, this article suggests that responsibilisation of recipients requires both empowerment and granting them more real freedom of choice on the labour market. Against the present trend toward hypertrophying individual responsibility, it calls for a more equilibrated balance between individual and social responsibility. The objective is not to define an impracticable ideal of responsibility, but to provide a yardstick for assessing activation programmes.
Copyright (c) 2008 Jean–Michel Bonvin (Author) https://creativecommons.org/licenses/by/4.0
Classification of Bulgarian Advertising Styles – Findings of Advertising Content Analysis in Bulgarian Media
The objective of the study presented in this paper is to classify the executional styles in Bulgarian advertising. For the completion of this task the author applies the research method of content analysis of advertisements in Bulgarian media. Creating a typology of executional styles in modern advertising means to identify and classify the typical or most often used executional styles. At the same time the author analyzes the connection between the advertising appeals from one hand and the executional styles from the other. The major advertising appeals are described and analyzed from the point of view of their practical application in advertising practice.The results of the study confirm the existence of 7 major executional styles in Bulgarian advertising practice. These executional styles include: (1) style of advertising presentation; (2) style of advertising associations; (3) "educational" style; (4) dramatic style; (5) entertaining style; (6) "fantastic" style; (7) style of urging consumer to action. The detailed analysis however revealed numerous "sub"-styles within each major executional style. All of them are described and illustrated in the paper.
Copyright (c) 2008 Hristo Katrandjhiev (Author) https://creativecommons.org/licenses/by/4.0
Factors and Main Directions for Business Intelligence Systems Design and Development
The main objective of this paper is to present the nature, characteristics and structural components of Business Intelligence Systems (BIS). Figure out are some of the important factors that could lead to the successful BIS establishment. The Roadmap Methodology of Business Intelligence Systems Design and Development is described with all the stages and steps of the process. Tree parallel paths are presented as successful approach to an effective BIS establishment within the organization. One of the most difficult tasks of BIS development is to select the appropriate architecture. The visions for an effective BI architecture of three leading companies in the field are described and some of the main difficulties within this procedure are figure out. Outlined are the major considerations that should be taken into account in order to select the appropriate architecture for the organization’s BIS development. The BIS current advantages and main directions of their future development are given in the conclusion.
Copyright (c) 2008 Kamelia Stefanova (Author) https://creativecommons.org/licenses/by/4.0
Bulgaria’ Welfare Before and After the EU Accession: Between the Expectations and the Reality
The paper reviews some of the economic aspects of Bulgaria’ welfare right before and after the accession to the EU. As an important milestone of the research stands the assumption that economic and social cohesion are closely interconnected, and that relation requires positive changes in the macroeconomic indicators i.e. GDP growth and macroeconomic stability to facilitate adequate changes in the incomes, spending and consumption of the populace. The paper establishes that the growth rates are a prerequisite for increasing the welfare; however, there is a clearly visible distance in between the growth rates and the direct private and public sources of welfare. That distance could cause a negative impact on the human and institutional growth-related factors. The authors refer to the evolving nature of irrational consumption structure associated with soaring exogenous effects and prerequisites for reiteration by following generations. Achieving sustainable welfare is linked to equitable distribution of incomes and overcoming extreme poverty and social exclusion. The market’ mechanisms which in many cases are the cause of welfare losses are not able to solve those problems. In those cases the state is the only corrective because it has the resources and the instruments needed for efficient intervention. This logic is consequential to the evolution of the economic welfare theory in which despite the presence of different paradigms, there exist comparatively unanimous position regarding the need for impartial redistribution. By analyzing the data from household budgets the authors arrive at the conclusion that the level of the matter-of-fact inequality is higher than the level usually ascertained by most commonly used indicators.The objective processes in the field of welfare reflect the subjective assessments of well-being. The authors quote data from polls and field studies which typify the Bulgarian citizens as the most unhappy and unsatisfied people among all other European nations, the cause of that being the differentiation between high expectations (mostly rooted in political rhetoric) and reality that changes always slower than expected.
Copyright (c) 2008 Lilia Yotova (Author) https://creativecommons.org/licenses/by/4.0
Product Differentiation: the Role of Depacking, Packing and Marking in Marketing
Marketing theory still pays a little attention to those elements from the third level of the product that collaborate in higher extend to turning the trade mark in a brand. At the same time more and more authors claim that trade mark must be on the focus of the marketing. That is the reason why the author aims to analyze the role of depacking, packing and marking in marketing of producers and traders in this study. This aim is prompted by the obstacle that often the depacking, package and marking is looked at as an object of regulation, but not as object of creative work. But they reveal new place for flexibility of the producers and can create advantages that make the choice of the buyers.
Copyright (c) 2008 Velina Baleva (Author) https://creativecommons.org/licenses/by/4.0
To the Evolutionary Conceptions of Organization’s Management
:The study has an object to suggest foundations of a possible contemporary methodological approach and methodical instruments for applying the evolutionary standpoint to the management science and practice. Various aspects in which that standpoint fins expression in classical management conceptions of the organizational changes are viewed. Fundamental formulations of the evolutionary transformations of the chaos philosophy and theory are represented. On that basis an attempt is made to formulate fundamental postulates of the management evolutionary conception and to interpret them by a methodological scheme of threats to the organizations localization, measurement and evaluation as well as of generation and evaluation versions of their limitation.Methods for the threats to organization measurement are elaborated that to provide first step to achievement of the primary organization aim of homeostasis/survival. The methods are described by its instruments, limiting conditions, stages and procedures and some results of their approbation. Basic instruments of the methods are method of focus groups, investigation method by questionnaires, paired comparison method and calculus by confidential intervals. The methods are approbated for the University of National and World Economy (UNWE). Results for the licensing institution “students” of the UNWE are represented in the study. These are aggression functions and present aggression evaluations of the licensing institution “students” as well as functions of threat to the UNWE and licensing table of threats of that licensing institution to the UNWE.
Copyright (c) 2008 Ognyan Simeonov, Maya Lambovska (Author) https://creativecommons.org/licenses/by/4.0
Priorities in Public Sector Development under the Conditions of Eurointegration
The main trends of public sector development are discussed in the study. The nature of the public sector is characterized; preconditions for its formation and functions performed are outlined.The research is directed to defining the priorities in the development of public sector after Bulgaria joined the EU. The focus of research is specific issues related to education, healthcare and public-private partnership.The main problems and tendencies in functioning of public organizations in the outlined priority areas are revealed. Opportunities for reforms speeding and improving the interactions among the public institutions in the country are suggested. On this base it is explained the necessity of using new approaches and concrete decisions for improving the activity of public organizations in Bulgaria under the conditions of integration to EU.
Copyright (c) 2008 Hristo Hristov (Author) https://creativecommons.org/licenses/by/4.0
Flexible Forms of Employment in Small and Medium-Size Enterprises: Conditions and Opportunities for Development. Kеy findings of research into the application of flexible forms of employment in small and medium-size enterprises in Bulgaria
On the look-out for increased competitiveness new forms of employment, which differ from the standard form of labour, are used by businesses. The flexible forms of employment (FFE) fit the state-of-the-art strategies of increased employment, higher efficiency and the quality of labour. These should also be regarded as key strategies for the development of small-and medium-size enterprises (SME), which in Bulgaria represent the overwhelming share of all enterprises and cover half of the workers and employees in the country.The study highlights the basic results of the 2007 survey of the application of FFE in SME. The subject matter of the study are the conditions and opportunities for the development of internal flexibility, i.e. the spread of the different forms of employment in SME. The paper features an assessment of employees’ and employers’ attitudes, as well the openings for a wider use of FFE in human resource management, employment conditions and social security.The study outlines the advantages and the drawbacks in the use of FFE. Proposals are submitted aimed at enhancing the efficiency of MSE, more specifically, in terms of human resource management.
Copyright (c) 2008 Katya Vladimirova, Margarita Atanasova (Author) https://creativecommons.org/licenses/by/4.0
On Global Management of the International Economic System
The paper deals with a fundamental problem of the international economy under the conditions of globalization. The author argues an objective necessity for the global management of the international economic system, identifies the mission and the basic objectives of the global economic management. The paper reviews and critically discusses the main conceptual models of the global management of the international economic system and more specifically, focuses on the operating model of the neo-liberal institutionalism – namely, .the interpretation of its theoretical and conceptual basis, its historical evolution, its achievements and weaknesses. The analysis is linked to the current crisis processes of the international economic system. As a conclusion, it is argued that a profound reform of the institutionalized management model of the international economic system is required in order to match it against the requirements of the modern, highly globalized economy. Some alternative ideas for constructing the mechanism under review have been outlined.
Copyright (c) 2009 Velko Marinov, Velko Marinov (Author) https://creativecommons.org/licenses/by/4.0