Proceedings of 3-rd International Scientific Conference „Industrial Growth Conference 2024“
Proceedings of 3-rd International Scientific Conference „Industrial Growth Conference 2024“
Contributor(s): Nikolay Sterev (Editor), Petya Biolcheva (Editor)
Subject(s): Economy, Business Economy / Management, Agriculture, Energy and Environmental Studies, Financial Markets, Accounting - Business Administration, Tourism, Human Resources in Economy, Business Ethics, Socio-Economic Research, Transport / Logistics, Green Transformation
ISSN: 2738-7267
Published by: Национално издателство за образование и наука „Аз-буки“
Keywords: circular economy; artificial intelligence; academic education; academy-business partnership; educational standards; industrial change; implementation of
circular solutions; smart business; business transformation; human-AI collaboration
Summary/Abstract: Proceedings of 3-rd International Scientific Conference „Industrial Growth Conference 2024“, which was held during the annual General Assembly of the Association of Teachers of Economics and Management in Industry (APEMI) in Nessebar, Burgas region, in the period September 27 – 29, 2024. During the conference, important issues related to the circular economy, artificial intelligence and their relationship with modern academic education were touched upon.
- Page Count: 408
- Publication Year: 2025
- Language: English
FOREST MANAGEMENT RESPONSIBILITY SURVEY OF FOREST LAND OWNERS AND MANAGERS
FOREST MANAGEMENT RESPONSIBILITY SURVEY OF FOREST LAND OWNERS AND MANAGERS
(FOREST MANAGEMENT RESPONSIBILITY SURVEY OF FOREST LAND OWNERS AND MANAGERS)
- Author(s):Ivaylo Ivanov, Elena Dragozova-Ivanova, Stanislava Kovacheva, Ivan Paligorov, Momchil Panayotov
- Language:English
- Subject(s):Social Sciences, Sociology, Globalization
- Page Range:9-21
- No. of Pages:13
- Keywords:biodiversity; trade-offs; behavioural responses; forest owners; conservation managers
- Summary/Abstract:The effective biodiversity goal achievement presupposes cross-sectoral policy coherence and implementation across EU, national and local levels. The goal implementation also depends on supportive behavioural responses by forest owners and managers who have to respond to multiple policy and socio-economic drivers forcing them to make trade-offs under uncertainty. This research is a continuation of previous research which suggests that cross-sectoral goal conflicts and failures to understand behavioural responses constitute major barriers to achieving desired forest biodiversity outcomes. The results of these survey for Bulgaria Case studies made it possible to explore behavioural change required for achieving conservation and biodiversity goals and establish management practices and attitudes in the field of biodiversity assessing synergies and trade-offs between policies, targets and benefits at the biodiversity-forest-climate-water nexus.
A SURVEY OF ENTREPRENEURIAL BEHAVIOUR OF STUDENTS IN ECONOMICS
A SURVEY OF ENTREPRENEURIAL BEHAVIOUR OF STUDENTS IN ECONOMICS
(A SURVEY OF ENTREPRENEURIAL BEHAVIOUR OF STUDENTS IN ECONOMICS)
- Author(s):Lubcho Varamezov, Iskra Panteleeva, Emil Nikolov
- Language:English
- Subject(s):Economy, Marketing / Advertising, Socio-Economic Research
- Page Range:22-33
- No. of Pages:12
- Keywords:entrepreneurial behaviour; entrepreneurship; students
- Summary/Abstract:The importance of entrepreneurship for socio-economic development motivates governments to implement measures to stimulate it. Some of them are aimed at the formation of entrepreneurial attitudes and intentions of certain groups of persons. Often entrepreneurial attitudes and intentions remain latent and do not find practical manifestation. The purpose of the article is to present the results of an empirical study of the entrepreneurial behaviour of economics students. The data was generated through an online survey of 422 students from the Tsenov Academy of Economics, Svishtov, Bulgaria. Their entrepreneurial profile is outlined, and positive and negative effects are identified.
APPLICABILITY OF THE ESG APPROACH IN LOCAL FINANCE: THE CASE OF WASTE MANAGEMENT IN BULGARIA
APPLICABILITY OF THE ESG APPROACH IN LOCAL FINANCE: THE CASE OF WASTE MANAGEMENT IN BULGARIA
(APPLICABILITY OF THE ESG APPROACH IN LOCAL FINANCE: THE CASE OF WASTE MANAGEMENT IN BULGARIA)
- Author(s):Mariyana Pavlova-Banova, Petko Angelov
- Language:English
- Subject(s):Economy, Business Economy / Management, Micro-Economics, Financial Markets
- Page Range:34-48
- No. of Pages:15
- Keywords:ESG approach; local finance; waste management; circular economy
- Summary/Abstract:The Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS), effective from early 2024, represent both a significant milestone and a natural continuation of the EU’s sustainable development policies established over the past 30 years. Bulgarian municipalities are actively engaged in this process, contributing through the conditions established for implementation and their direct participation in various projects, initiatives, and campaigns. This paper aims to explore the interaction between the public and private sectors in reducing the ecological footprint of waste, with a focus on leading Bulgarian organizations involved in waste management. The findings highlight the contributions of both companies and local authorities in raising environmental awareness and implementing circular solutions within the framework of the ESG approach.
ARTIFICIAL INTELLIGENCE AS A RISK TREATMENT TOOL IN THE CIRCULAR ECONOMY
ARTIFICIAL INTELLIGENCE AS A RISK TREATMENT TOOL IN THE CIRCULAR ECONOMY
(ARTIFICIAL INTELLIGENCE AS A RISK TREATMENT TOOL IN THE CIRCULAR ECONOMY)
- Author(s):Petya Biolcheva
- Language:English
- Subject(s):Economy, National Economy, Supranational / Global Economy, Business Economy / Management
- Page Range:49-59
- No. of Pages:11
- Keywords:Current Economic; Risk; Relationships of Circular Products
- Summary/Abstract:Business organizations are increasingly thinking about closing the production loop and moving closer to the so-called circular economy. On the other hand, changing from a linear model to a circular one is accompanied by many difficulties and unknowns. Achieving a regenerative system with zero waste emissions, full resource recovery, recycling and reuse poses a number of risks for business. This paper explores the possibility of using AI as an effective means of addressing risk in the transition to a circular economy and Industry 5.0. The results of the study identify the main relevant groups of risks and propose a methodology for their treatment, through different AI tools. This allows to achieve higher competitiveness and a smooth entry into Industry 5.0.
ANALYSIS OF THE TERRITORIAL DISTRIBUTION OF THE COMPANIES IN THE RECYCLING INDUSTRY IN THE SOUTH-CENTRAL REGION OF BULGARIA
ANALYSIS OF THE TERRITORIAL DISTRIBUTION OF THE COMPANIES IN THE RECYCLING INDUSTRY IN THE SOUTH-CENTRAL REGION OF BULGARIA
(ANALYSIS OF THE TERRITORIAL DISTRIBUTION OF THE COMPANIES IN THE RECYCLING INDUSTRY IN THE SOUTH-CENTRAL REGION OF BULGARIA)
- Author(s):Dimitar Blagoev, Kalin Karev
- Language:English
- Subject(s):Economy, Energy and Environmental Studies, Green Transformation
- Page Range:60-71
- No. of Pages:12
- Keywords:Recycling Industry; Economic Development; Green Economy; Central-South region
- Summary/Abstract:In the present study we analyze the territorial distribution and the activities of the companies in the recycling industry in Bulgaria, and especially in the central-south region of the country. Our primary goal is to make retrospective analysis and to identify the future trends of progression of the companies in the recycling industry in the specified country region. We use relevant statistical data, associated with particular economic indicators –turnover, long-term assets value, short-term assets value, number of employees, value of investments, etc. On a regional level we focus on some macroeconomic indicators – gross domestic product (GDP), gross value added (GVA), foreign direct investment (FDI), etc.
THE IMPACT OF THE DISRUPTIONS OF THE GLOBAL CHECK POINTS ON THE SEABORNE TRADE
THE IMPACT OF THE DISRUPTIONS OF THE GLOBAL CHECK POINTS ON THE SEABORNE TRADE
(THE IMPACT OF THE DISRUPTIONS OF THE GLOBAL CHECK POINTS ON THE SEABORNE TRADE)
- Author(s):Svetlana Dimitrakieva, Christiana Atanasova
- Language:English
- Subject(s):Economy, Energy and Environmental Studies, Financial Markets, Transport / Logistics
- Page Range:72-83
- No. of Pages:12
- Keywords:checkpoints; channels; natural disasters; piracy; disruptions; geopolitical conflicts
- Summary/Abstract:The paper aims to analyze the impact of meteorological and geopolitical disruptions on the main shipping checkpoints. Globalization is predicated on the free international movement of goods, essential for international trade. Those goods’ delivery relies on specific trade routes and checkpoints, which have always been critical passages for the carriage of goods by sea. On the other hand, any disruption at those checkpoints can have detrimental consequences for the global economy. Any disruption can significantly impact global trade, leading to delays, increased shipping costs, and potential shortages of goods. The impact of those disruptions could also create substantial economic damages, as those passages are crucial for planning for the future and will always be a primary global concern. Although the checkpoints provide a lot of economic advantages, their vulnerability and the lack of physical security invariably endanger shipping and international trade.
SUSTAINABILITY EMBEDDEDNESS IN KEY CHARACTERISTICS OF PROCLAIMED ORGANIZATIONAL CULTURE
SUSTAINABILITY EMBEDDEDNESS IN KEY CHARACTERISTICS OF PROCLAIMED ORGANIZATIONAL CULTURE
(SUSTAINABILITY EMBEDDEDNESS IN KEY CHARACTERISTICS OF PROCLAIMED ORGANIZATIONAL CULTURE)
- Author(s):Kiril Dimitrov
- Language:English
- Subject(s):Economy, Energy and Environmental Studies, Human Resources in Economy, Socio-Economic Research, Green Transformation
- Page Range:84-97
- No. of Pages:14
- Keywords:sustainability; corporate sustainability; organizational culture; corporate culture; proclaimed culture; sustainability culture
- Summary/Abstract:The paper describes and analyzes the contemporary sustainability operationalization at corporate level, emphasizing on its relationship with the realization of the cultural phenomenon in the business world. The research is aimed at identifying key sustainability-oriented characteristics of proclaimed culture within the group of companies from the Bulgarian-Chinese Chamber of Commerce and Industry, disclosed publicly on the internet. Recommendations to the managers are proposed in order to deeper embed the sustainability initiatives and behaviors as ways of thinking and acting in the entities.
THE CIRCULAR ECONOMY – THE NEW WAY FOR SUSTAINABLE DEVELOPMENT OF EUROPEAN UNION
THE CIRCULAR ECONOMY – THE NEW WAY FOR SUSTAINABLE DEVELOPMENT OF EUROPEAN UNION
(THE CIRCULAR ECONOMY – THE NEW WAY FOR SUSTAINABLE DEVELOPMENT OF EUROPEAN UNION)
- Author(s):Krasimira Dimitrova
- Language:English
- Subject(s):Economy, Energy and Environmental Studies, Business Ethics, Green Transformation
- Page Range:98-111
- No. of Pages:14
- Keywords:linear economy; circular economy; resources; recycling; critical raw materials; material outputs; waste
- Summary/Abstract:The scientific and technical development, which is characterized by increasingly dynamic rates, made it possible to harness all components of the biosphere in material production. The industrial revolution ushered in the linear economy. Raw materials and materials are used for goods that are discarded after use. The trend of excessive consumerism gives rise to serious environmental, economic, cultural, political and social problems, leads to depletion of natural resources and ecological imbalance. The traditional linear economy is based on the extraction of natural resources to produce products that end their life cycle as waste. The linear economy is still deeply rooted. In the modern reality the „take-make-consume-throw“ model must remain irreversibly in the past and be transformed into a higher degree of responsible business development, where waste is transformed into raw materials requiring responsible thinking and behaviour for sustainable management and growth. This publication presents the first stage of a scientific study of the possibilities of efficient use of natural resources, increasing the use of secondary raw materials, securing access to strategic resources and reducing the dependence on imports in the EU in the process of transition to a circular economy. A comprehensive analysis of the material resources used in the EU economy was made. This analysis will serve as a basis for further research into the possibilities for a higher degree of responsible business development, where waste is transformed into raw materials requiring responsible thinking and behaviour for sustainable management and growth.
VOLATILE ORGANIC COMPOUNDS SAFETY LEVELS DURING CRUDE OIL SPILLS
VOLATILE ORGANIC COMPOUNDS SAFETY LEVELS DURING CRUDE OIL SPILLS
(VOLATILE ORGANIC COMPOUNDS SAFETY LEVELS DURING CRUDE OIL SPILLS)
- Author(s):Dobrin Milev, Todor Koritarov
- Language:English
- Subject(s):Economy, Energy and Environmental Studies, Business Ethics, Transport / Logistics
- Page Range:112-117
- No. of Pages:6
- Keywords:maritime transport; Crude Oil Volatile Compounds; safety; oil spills
- Summary/Abstract:During crude oil spills the personnel involved in the Oil industry and the emergency responders may be exposed to Crude Oil Volatile Compounds (VOC) following their release from the rig or the transportation vessel and migration through the water column to the ocean surface. In order to be prepared in case of such incidents, hand-held instruments are readily available and capable of measuring VOC in isobutylene units. Currently there’s no VOC emergency levels for crude oil vapors or developed correction factor for which to extrapolate the concentration of general VOC as isobutylene to the concentration of Crude Oil Volatile Compounds in the air. Therefore these levels must be set out as a recommendation for initial health and safety decision making immediately after an oil spill incident and for time framing during oil spill response. In this regard, the article explores the factors that influence the VOC concentration in crude oil following an accidental release and the subsequent risks associated with inhaling these vapors.
ECONOMIC PROFITABILITY OF AGRICULTURE IN BULGARIA
ECONOMIC PROFITABILITY OF AGRICULTURE IN BULGARIA
(ECONOMIC PROFITABILITY OF AGRICULTURE IN BULGARIA)
- Author(s):Oleg Milev
- Language:English
- Subject(s):Economy, Agriculture, Accounting - Business Administration
- Page Range:118-127
- No. of Pages:10
- Keywords:profitability; assets; return on assets; agriculture
- Summary/Abstract:This article aims to make an analysis and evaluate the factors that influence economic profitability, which could lead to improvement of the financial state of the enterprises in the agricultural sector. The object of study is the return on assets. Known in literature as economic profitability, this factor is important because it provides information about the degree of efficiency by which enterprises exploit their resources. Focusing on the agrarian sector on the basis of selected and summarized statistical data over a period of five years we have opted for a method of studying the direct factors determining economic profitability. To define the strength and direction of change of return on assets we have measured the impact of the efficiency from using non-current assets, turnover of current assets and the influence on the changes of revenue profitability. In conclusion, we describe the main moments and results from the realized studies in this article, by outlining the inferences drawn on the basis of an analysis of the agricultural sector in Bulgaria.
CONTEMPORARY CHALLENGES FACING THE FOOD INDUSTRY
CONTEMPORARY CHALLENGES FACING THE FOOD INDUSTRY
(CONTEMPORARY CHALLENGES FACING THE FOOD INDUSTRY)
- Author(s):Madlen Mitkova
- Language:English
- Subject(s):Economy, Micro-Economics, Energy and Environmental Studies, Green Transformation
- Page Range:128-135
- No. of Pages:8
- Keywords:circular economy; smart business; knowledge economy; smart packaging; food industry
- Summary/Abstract:The report explores the sustainable management of plastic packaging in the sustainable management of the application in the food sector production, with a special focus on innovation and smart management systems. The study aims to assess the impact of the regulatory policy on the development and implementation of sustainable packaging solutions in the food industry. The study uses qualitative and quantitative methods to evaluate and analyse the data. Examples from the practice of using new materials are analysed. The results referred to in this article are obtained based on the work on the dissertation and a research project with filing number НИ-4-2022.
ECO-INNOVATION AND CIRCULAR ECONOMY DEVELOPMENT
ECO-INNOVATION AND CIRCULAR ECONOMY DEVELOPMENT
(ECO-INNOVATION AND CIRCULAR ECONOMY DEVELOPMENT)
- Author(s):Plamen Pavlov, Vladi Kurshumov
- Language:English
- Subject(s):Economy, Energy and Environmental Studies, Green Transformation
- Page Range:136-145
- No. of Pages:10
- Keywords:eco-innovation; circular economy; sustainable development
- Summary/Abstract:The transition to a circular economy is of great importance to maintain the balance between quality of life and excessive consumption. In this regard, eco-innovations are established as a vital element for the development of business organizations and the economy. The main objective of the paper is to analyze and evaluate the trends in the development of the innovation activity of the EU countries and in particular Bulgaria in the field of eco-innovations. The results of different measurement are discussed, including eco-innovation index and some indicators related to circular economy in EU.
IMPROVING HEALTHCARE MANAGEMENT THROUGH KNOWLEDGE ECONOMY (PERSPECTIVES FOR BULGARIAN REALITY)
IMPROVING HEALTHCARE MANAGEMENT THROUGH KNOWLEDGE ECONOMY (PERSPECTIVES FOR BULGARIAN REALITY)
(IMPROVING HEALTHCARE MANAGEMENT THROUGH KNOWLEDGE ECONOMY (PERSPECTIVES FOR BULGARIAN REALITY))
- Author(s):Petya Slavova
- Language:English
- Subject(s):Economy, Human Resources in Economy, Business Ethics
- Page Range:146-154
- No. of Pages:9
- Keywords:health care; health care management; knowledge economy
- Summary/Abstract:The objectves of this article are to identify the key components needed for advancing the healthcare management throught implementation of some tools of knowledge economy and to describe the possible approaches that the organizations have implemented so far, and what should be done. The author proceeded a research of the environment of some hospital facilities in order to identify some principles for the implementation of sustainable management improvement in the health conditions of selected Bulgarian health facilities. This is possible by conducting in-depth interviews with experts on the issues of the present exhibition and hospital managers. Drawing on health management literature and practice and available information on the knowledge economy, interviewees described different approaches to improving management which include important key components.
CHEMICAL TANKERS SAFETY CARGO HANDLING
CHEMICAL TANKERS SAFETY CARGO HANDLING
(CHEMICAL TANKERS SAFETY CARGO HANDLING)
- Author(s):Dimitar Dimitrakiev, Dobrin Milev
- Language:English
- Subject(s):Economy, Energy and Environmental Studies, Transport / Logistics
- Page Range:155-161
- No. of Pages:8
- Keywords:chemical tankers; maritime transport; safety; cargo handling
- Summary/Abstract:Chemical tankers are much more complicated than ordinary tankers. This type of vessels intends to carry dangerous chemicals as well as flammable and other liquid products. For precaution of safety there’s no difference between general oil tankers and chemical tankers in principle, since they upgrade the risks with toxic, reactivity and other hazards. Regarding the construction the chemical tankers are well equipped – they have more pumps, valves, blanks and lines then ordinary tanker vessel. They may have onboard many different kind of cargo at the same time. These cargoes may be bulk liquid chemicals, solvents, lubricating oils, vegetable and animal oils, petroleum products, and other such liquids. They have to be handled safely. Care is absolutely essential throughout the whole operation. Not all of these cargoes are dangerous, but more of them will have some hazards connected with their properties. Chemical tankers masters and crew should observe all the international procedures for handling such cargoes, described in the approved manuals and codes. The shipping companies operating such vessel are obliged to develop safety and quality procedures, in order to avoid incidents with chemical products.
LEAN OPTIMIZATION’S ROLE IN DRIVING EFFECTIVE DIGITAL TRANSFORMATION IN PROJECT-BASED ORGANIZATIONS
LEAN OPTIMIZATION’S ROLE IN DRIVING EFFECTIVE DIGITAL TRANSFORMATION IN PROJECT-BASED ORGANIZATIONS
(LEAN OPTIMIZATION’S ROLE IN DRIVING EFFECTIVE DIGITAL TRANSFORMATION IN PROJECT-BASED ORGANIZATIONS)
- Author(s):Petya Dorovska
- Language:English
- Subject(s):Economy, Business Economy / Management, ICT Information and Communications Technologies
- Page Range:162-171
- No. of Pages:10
- Keywords:digital transformation; lean; process optimization; project-based organizations
- Summary/Abstract:This paper examines the critical role of Lean optimization in successful digital transformation for project-based organizations. Adopting digital technologies often brings challenges like inefficiencies, waste, and misaligned goals. Lean principles – reducing waste, continuous improvement, and value creation – offer an effective framework to address these issues. Integrating lean methods with automation, AI, and data analytics enhances efficiency, decision-making, and sustainable growth. The paper presents an overview of such integrations, supported by case studies and industry examples. In doing so, it highlights the importance of aligning technological adoption with business objectives and process optimization. By applying Lean thinking to digital transformation efforts, organizations can not only streamline operations but also foster innovation and adaptability in increasingly dynamic market environments. This synthesis of Lean and digital strategies provides a roadmap for navigating the complexities of modern project management while maximizing long-term value and performance. The conclusion emphasizes that this synergy also mitigates common digital transformation challenges, ensuring better alignment between technology investments and strategic objectives.
HOW TO ALLOCATE LIMITED RESOURCES TO ACHIEVE MAXIMUM PROFIT IN A MANUFACTURING ORGANIZATION
HOW TO ALLOCATE LIMITED RESOURCES TO ACHIEVE MAXIMUM PROFIT IN A MANUFACTURING ORGANIZATION
(HOW TO ALLOCATE LIMITED RESOURCES TO ACHIEVE MAXIMUM PROFIT IN A MANUFACTURING ORGANIZATION)
- Author(s):Bao Gang, Pavel Vitliemov
- Language:English
- Subject(s):Economy, Business Economy / Management, Energy and Environmental Studies
- Page Range:172-185
- No. of Pages:14
- Keywords:production possibility frontier; limited resources; linear programming model; profitability; efficiency; manufacturing organization
- Summary/Abstract:The manufacturing industry with the deepening of the reduction principle of circular economy, not only pursue the maximum utilization of resources, but also pursue the maximum profit. However, at present, manufacturing enterprises are faced with many challenges such as how to allocate limited resources efficiently and reasonably in real time, waste of resources caused by low cost-effectiveness product excess, and low profits. Enterprises need to strengthen cost management, allocate limited resources efficiently and reasonably, and improve profitability in order to cope with the increasingly complex competitive market. Here, the research in this area becomes very important. This paper proposes a new approach to build an intelligent decision-making process, especially in terms of efficient and rational allocation of limited resources and profitability. Emphasize the importance of efficient and rational allocation of limited resources and profitability decision-making, so the purpose of research is to allocate limited resources efficiently and rationally, and make decisions according to market demand in order to maximize profits. The research in this paper is inspired by the economic concept of production possibility frontier. From the current common economic concept of studying the production possibility frontier curve model of two products is extended to the production possibility frontier of more than two products. Moreover, the production possibility frontier of various products is combined with the linear programming model to find the maximum profit and the production possibility combination of products. The whole process describes the basic steps and modules needed to efficiently and rationally allocate limited resources and establish a profitability decision process. The specific contents include first determining variables and constants, then establishing models and setting the constraint conditions, and finally using LINGO software to solve the model to get the ideal maximum profit and the quantity of various products in the product production possibility combination. The advantage of this decision system is to help enterprises to maximize profits, improve the utilization rate of limited resources, and efficiently and reasonably allocate limited resources to meet the market demand.
LEADERSHIP IN TOURISM: FROM INDIVIDUAL TO BUSINESS SUCCESS
LEADERSHIP IN TOURISM: FROM INDIVIDUAL TO BUSINESS SUCCESS
(LEADERSHIP IN TOURISM: FROM INDIVIDUAL TO BUSINESS SUCCESS)
- Author(s):Fahri Idriz
- Language:English
- Subject(s):Economy, Business Economy / Management, Tourism
- Page Range:186-195
- No. of Pages:10
- Keywords:tourism leadership; business success; Bulgaria; tourist organization
- Summary/Abstract:In recent years, there has been an increasing emphasis on leadership strategies that aim to create and maintain „human and social“ connections within commercial enterprises. This indicates that leadership and leaders are considered in all efforts that promote interpersonal relationships and require social interaction, extending beyond the fundamental concepts of leadership, particularly in the tourism industry, where „person-to-person“ interactions tend to be more enduring. People are at the heart of the tourism sector. Consequently, the primary objective of this paper is to highlight the practical aspects of implementing leadership styles that contribute to the success of individuals and businesses in Bulgaria, while simultaneously revealing their contemporary leadership characteristics.
RE-MANUFACTURING AS A TOOL FOR INCREASING THE SUSTAINABILITY OF BUSINESS PROCESSES
RE-MANUFACTURING AS A TOOL FOR INCREASING THE SUSTAINABILITY OF BUSINESS PROCESSES
(RE-MANUFACTURING AS A TOOL FOR INCREASING THE SUSTAINABILITY OF BUSINESS PROCESSES)
- Author(s):Nataliya Koleva, Siyka Demirova
- Language:English
- Subject(s):Economy, Energy and Environmental Studies, Green Transformation
- Page Range:196-206
- No. of Pages:11
- Keywords:Sustainability; Re-manufacturing; Circular Economy; Business Processes; Industrial Enterprises
- Summary/Abstract:The issue of business process sustainability is becoming increasingly important for modern businesses, encouraging industrial enterprises to seek effective ways for the long-term preservation of resources and the minimization of negative environmental impacts—in other words, transforming current business models into sustainable ones. Re-manufacturing, or the process of restoring and recycling products and materials, plays a key role in this context. Innovations in re-manufacturing offer new opportunities to create sustainable business models that not only meet environmental standards but also provide economic and social benefits. The aim of this article is to explore the significance of re-manufacturing in creating sustainable and competitive businesses in the modern economy, while also addressing the challenges and barriers to implementing reproduction practices and offering practical guidelines for overcoming them. In this regard, the article presents a comprehensive analysis of current trends and innovations in the field and discusses how re-manufacturing processes can be integrated into business strategies to achieve greater efficiency and environmental responsibility.
LOGICAL FRAMEWORK METHOD FOR CONDUCTING PRE- AND POST-MONEY VALUATIONS OF EQUITY CROWDFUNDED COMPANIES LEVERAGING AI
LOGICAL FRAMEWORK METHOD FOR CONDUCTING PRE- AND POST-MONEY VALUATIONS OF EQUITY CROWDFUNDED COMPANIES LEVERAGING AI
(LOGICAL FRAMEWORK METHOD FOR CONDUCTING PRE- AND POST-MONEY VALUATIONS OF EQUITY CROWDFUNDED COMPANIES LEVERAGING AI)
- Author(s):Krasimir Petkov
- Language:English
- Subject(s):Economy, Business Economy / Management, Marketing / Advertising, Socio-Economic Research
- Page Range:207-219
- No. of Pages:13
- Keywords:Equity Crowdfunding; Company Valuation; AI in Finance; CAPM, DCF/FCFE
- Summary/Abstract:The paper develops an artificial intelligence-driven framework that provides an enhanced approach to both pre- and post-money valuations of equity crowdfunding companies. The study integrates generative AI with DCF and CAPM models and thus enables the assessment of a comparative analysis between the initial pre-money and the post-campaign valuation of equity crowdfunded business ventures. The research results in a pilot case study testing the suggested logical framework method which points toward the differences in this respect, showcasing the potential for AI in enhancing investors’ capacity to make better decisions.
SOME IMPACTS ON THE MANAGEMENT OF THE NEW PRODUCT DEVELOPMENT PROCESS BY MACHINE MANUFACTURERS IN BULGARIA
SOME IMPACTS ON THE MANAGEMENT OF THE NEW PRODUCT DEVELOPMENT PROCESS BY MACHINE MANUFACTURERS IN BULGARIA
(SOME IMPACTS ON THE MANAGEMENT OF THE NEW PRODUCT DEVELOPMENT PROCESS BY MACHINE MANUFACTURERS IN BULGARIA)
- Author(s):Bozhana Stoycheva, Diana Antonova
- Language:English
- Subject(s):Economy, Business Economy / Management, Business Ethics
- Page Range:220-233
- No. of Pages:14
- Keywords:management; innovation process; new products development; manufacturing industry
- Summary/Abstract:The success of the new product and its development program is directly related to the effective management, planning, organization and control of influencing factors. The identification of these factors is a critical point in the management of the organization. The presented study examines the new product development process of machine manufacturers in Bulgaria. The aim of the authors is to identify factors that ensure market success of manufacturing enterprises through the study of methods, tools and practices for improving the management of the researched process. The results present data on the management process and the organization of the innovation process and reveal a small part of conducted research aimed at identifying influencing factors on the success of new products.
RESEARCH OF THE INVESTMENT ACTIVITY IN THE ENTERPRISES OF THE “MANUFACTURING OF TEXTILE CLOTHING” SECTOR
RESEARCH OF THE INVESTMENT ACTIVITY IN THE ENTERPRISES OF THE “MANUFACTURING OF TEXTILE CLOTHING” SECTOR
(RESEARCH OF THE INVESTMENT ACTIVITY IN THE ENTERPRISES OF THE “MANUFACTURING OF TEXTILE CLOTHING” SECTOR)
- Author(s):Angelina Terzieva
- Language:English
- Subject(s):Economy, Financial Markets, Business Ethics
- Page Range:234-245
- No. of Pages:12
- Keywords:Investments; economic effect; investment activity; clothing production
- Summary/Abstract:The purpose of this report is to track the investment activity in enterprises of the “Manufacturing of textile clothing“ sector. Based on data obtained from the National Statistical Institute, including tangible and intangible fixed assets, and through the application of horizontal analysis, the investment activity of companies in the examined sector during the period 2014-2020 is analyzed, and the economic impact of the investments made in production is determined.
TENDENCIES IN THE IMPLEMENTATION OF SMART TECHNOLOGIES IN THE SPORTS INDUSTRY
TENDENCIES IN THE IMPLEMENTATION OF SMART TECHNOLOGIES IN THE SPORTS INDUSTRY
(TENDENCIES IN THE IMPLEMENTATION OF SMART TECHNOLOGIES IN THE SPORTS INDUSTRY)
- Author(s):Veselin Valchev
- Language:English
- Subject(s):Economy, Human Resources in Economy, Business Ethics
- Page Range:246-257
- No. of Pages:12
- Keywords:Sport technology; Technology innovation; Artificial Intelligence; Sport Business
- Summary/Abstract:The combination of sport, business and artificial intelligence, in the context of high social interest, business interests and intelligent technologies, opens perspectives for a considerable expansion of the sports industry. At the same time, the dynamic of the market demands the implementation of artificial intelligence (AI). It is being successfully used in several key aspects – fans’ involvement, which generates major revenues in the industry; injury prevention and avoidance; improving sports performances (through in-depth analysis); improving sports equipment and providing equitable refereeing, all of which directly and indirectly influence the development of business models and cash flows in the industry. This report presents the tendencies of implementing intelligent technologies in the management and operation of sports organisations. Intelligent technologies were considered in both the sport performance and business management strands of organisations as well. The main directions of intelligent technology implementation in sport organizations are based and delineated on an empirical study and secondary data analysis and synthesis.
ALTERNATIVE EDUCATIONAL MODELS FOR SUSTAINABLE DEVELOPMENT OF MARITIME EDUCATION
ALTERNATIVE EDUCATIONAL MODELS FOR SUSTAINABLE DEVELOPMENT OF MARITIME EDUCATION
(ALTERNATIVE EDUCATIONAL MODELS FOR SUSTAINABLE DEVELOPMENT OF MARITIME EDUCATION)
- Author(s):Ivan Conev, Todor Koritarov
- Language:English
- Subject(s):Social Sciences, Economy, Education, Vocational Education, Transport / Logistics
- Page Range:258-268
- No. of Pages:11
- Keywords:digitalization; maritime education and training (MET); computer-based training (CBT); marine simulators; e-learning
- Summary/Abstract:The maritime industry plays a critical role in global trade, contributing significantly to the world economy and facilitating the movement of goods and people across the world. As the industry evolves with technological advancements, climate change, and sustainability demands, maritime education must also adapt. To ensure the long-term sustainability of this sector, it’s imperative to develop comprehensive strategies for maritime education. These strategies must focus on fostering a skilled and adaptable workforce while promoting environmental stewardship, technological innovation, and global collaboration. Traditional educational models, while foundational, may not sufficiently equip students with the skills and knowledge needed to address contemporary challenges. Alternative educational models offer innovative approaches to enhance the sustainability and relevance of maritime education. This study explores several such models and their potential impact on the industry.
ADVANTAGES AND DISADVANTAGES OF ARTIFICIAL INTELLIGENCE IN BULGARIAN EDUCATION
ADVANTAGES AND DISADVANTAGES OF ARTIFICIAL INTELLIGENCE IN BULGARIAN EDUCATION
(ADVANTAGES AND DISADVANTAGES OF ARTIFICIAL INTELLIGENCE IN BULGARIAN EDUCATION)
- Author(s):Gergana Dimcheva, Silviya Hristova
- Language:English
- Subject(s):Social Sciences, Education, Distance learning / e-learning
- Page Range:269-280
- No. of Pages:12
- Keywords:artificial intelligence; education; Bulgaria; advantages; disadvantages
- Summary/Abstract:Artificial intelligence (AI) is rapidly entering various sectors of the economy, including in the education. AI applications are gradually starting to transform the way we learn and teach, offering both advantages and disadvantages. The purpose of the publication is to investigate the degree of use of artificial intelligence in Bulgarian educational institutions – schools and universities. To achieve the goal, the following main tasks are set: to make a literature review of scientific and specialized literature on the specifics of using artificial intelligence in education; to conduct a survey in secondary schools and universities regarding the degree of use of artificial intelligence in Bulgarian education; to bring out advantages and disadvantages of the use of artificial intelligence in education.
ENHANCING HIGHER EDUCATION WITH VIRTUAL AND AUGMENTED REALITY: UNLEASHING THE POWER OF DIGITAL EDUCATIONAL TECHNOLOGY
ENHANCING HIGHER EDUCATION WITH VIRTUAL AND AUGMENTED REALITY: UNLEASHING THE POWER OF DIGITAL EDUCATIONAL TECHNOLOGY
(ENHANCING HIGHER EDUCATION WITH VIRTUAL AND AUGMENTED REALITY: UNLEASHING THE POWER OF DIGITAL EDUCATIONAL TECHNOLOGY)
- Author(s):Kaloyan Dimitrov
- Language:English
- Subject(s):Social Sciences, Education, Adult Education, Distance learning / e-learning
- Page Range:281-289
- No. of Pages:9
- Keywords:digital higher education; virtual reality; augmented reality; immersive learning; immersive teaching
- Summary/Abstract:In recent years, the adoption of Virtual Reality (VR) and Augmented Reality (AR) has been an engaging development for the future of immersive education. There has been a growing interest in the potential of VR/AR technologies to revolutionize higher education institutions. The purpose of this study is to analyze the power of VR/AR technologies to enhance higher education. To examine the overall picture of the topic, we conduct a literature review to collect and summarize the published educational literature, followed by an interpretation of the challenges, barriers and recommendations. The findings highlight the power of VR/AR as an immersive approach to learning and teaching. The conclusion presents that VR and AR are a key success factor for digital higher education.
THE APPLICATION OF SOCIAL NETWORKS IN CONTEMPORARY HUMAN RESOURCE MANAGEMENT
THE APPLICATION OF SOCIAL NETWORKS IN CONTEMPORARY HUMAN RESOURCE MANAGEMENT
(THE APPLICATION OF SOCIAL NETWORKS IN CONTEMPORARY HUMAN RESOURCE MANAGEMENT)
- Author(s):Marin Geshkov
- Language:English
- Subject(s):Economy, Human Resources in Economy, Business Ethics
- Page Range:290-299
- No. of Pages:10
- Keywords:social networks; human resource management; employee performance management
- Summary/Abstract:This paper explores the application of social networks in modern human resource management (HRM), highlighting how platforms and internal company networks are revolutionising HR practices. It delves into the role of social media in recruiting, employee engagement, training and performance management. The paper addresses challenges and risks, including privacy concerns, potential bias, and ethical considerations. Through case studies of organisations successfully using social media for HRM, the paper illustrates best practices and outcomes. Finally, it offers insights into future trends and recommendations for HR professionals to navigate the evolving digital landscape.
HOW MARKET RELATIONS HAVE CHANGED IN THE 21ST CENTURY
HOW MARKET RELATIONS HAVE CHANGED IN THE 21ST CENTURY
(HOW MARKET RELATIONS HAVE CHANGED IN THE 21ST CENTURY)
- Author(s):Vanya Hadzhieva
- Language:English
- Subject(s):Economy, Financial Markets
- Page Range:300-307
- No. of Pages:8
- Keywords:market; market relations; changes
- Summary/Abstract:Over its millennial history, markets have established themselves as a gathering center and intersection of all public interests that meet in the market arena to satisfy the demand and supply of assets. Market relations encompass the entire set of interactions between consumers, producers and intermediaries. In their essence, it is the market relations that form the basis of the economic systems through which the distribution of resources is realized from antiquity to the present day. The essence of market relations is the supply-demand relationship, through which the searching consumers declare their willingness and ability to buy, and the offering producers and traders their readiness to offer the relevant assets. In its essence, this is a classical interaction that retains its essence over the centuries, modifying and developing the specific techniques and models for its practical implementation. The purpose of the presented material is to focus attention on the new moments in the process of realizing market relations in the 21st century through analytical comparison.
THE EDUCATIONAL MODEL FOR DISCIPLINES WITH A FOCUS ON ENTREPRENEURSHIP BASED ON THE EXAMPLE OF “MELES FAMILY” PROJECTS
THE EDUCATIONAL MODEL FOR DISCIPLINES WITH A FOCUS ON ENTREPRENEURSHIP BASED ON THE EXAMPLE OF “MELES FAMILY” PROJECTS
(THE EDUCATIONAL MODEL FOR DISCIPLINES WITH A FOCUS ON ENTREPRENEURSHIP BASED ON THE EXAMPLE OF “MELES FAMILY” PROJECTS)
- Author(s):Veneta Hristova, Piotr Wolejsza, Nedko Minchev, Ivan Stoyanov
- Language:English
- Subject(s):Social Sciences, Economy, Education, Micro-Economics, Adult Education, Marketing / Advertising
- Page Range:308-321
- No. of Pages:14
- Keywords:new educational tools; educational programs; entrepreneurship and small business
- Summary/Abstract:Generations Z and A demonstrate a completely different attitude to the educational process and are already having a significant impact on the applied tools for acquiring knowledge. Teaching a discipline such as entrepreneurship allows consciously develop new teaching models. One such new model is presented in the current development, the start of which is set in 2014 with the first of the “MELES family” projects. By 2024, fourth project is on, the main outcome of which will be a digital library on entrepreneurship, containing educational short videos based on real entrepreneurial stories told by local entrepreneurs. They are made by teachers and students without professional equipment, but aim to inspire and awaken entrepreneurial intentions among young people.
HAS BUSINESS INTEREST TO UTILITY MODELS BEEN INFLUENCED BY COVID-19? AN EMPIRICAL ANALYSIS
HAS BUSINESS INTEREST TO UTILITY MODELS BEEN INFLUENCED BY COVID-19? AN EMPIRICAL ANALYSIS
(HAS BUSINESS INTEREST TO UTILITY MODELS BEEN INFLUENCED BY COVID-19? AN EMPIRICAL ANALYSIS)
- Author(s):Fanny Koleva
- Language:English
- Subject(s):Economy, Business Economy / Management, Business Ethics
- Page Range:322-332
- No. of Pages:11
- Keywords:utility models; COVID-19; registration activity; Bulgaria; businesses; technical solutions
- Summary/Abstract:The paper’s aim is to explore if business interest to utility model (UM) registration in Bulgaria changed with COVID-19 and in what direction. Based on empirical research for the period 2009-2023 (i.e. before and after COVID-19 beginning) the paper analyzes the registration activity in a few dimensions – intensity, change in time, fields of interest, origin and type of the owners, to outline the behavior in comparison with other groups of holders. The paper, moreover, analyzes as well if the motivation of business changed in the different years after COVID-19 beginning and how, to better investigate the pandemic’s influence on its interest in technical solutions protection via UM, before it concludes.
THE IMPACT OF THE CONFLICT IN UKRAINE ON TRADE AND MARITIME TRANSPORT. THE NEGATIVE EFFECT ON THE LABOR MARKET FOR MARITIME PERSONNEL
THE IMPACT OF THE CONFLICT IN UKRAINE ON TRADE AND MARITIME TRANSPORT. THE NEGATIVE EFFECT ON THE LABOR MARKET FOR MARITIME PERSONNEL
(THE IMPACT OF THE CONFLICT IN UKRAINE ON TRADE AND MARITIME TRANSPORT. THE NEGATIVE EFFECT ON THE LABOR MARKET FOR MARITIME PERSONNEL)
- Author(s):Ognyan Kostadinov, Todor Koritarov
- Language:English
- Subject(s):Economy, Transport / Logistics
- Page Range:333-345
- No. of Pages:13
- Keywords:maritime transport; maritime personnel; global trade; supply; demand
- Summary/Abstract:The conflict in Ukraine has continued for more than two and a half years and brings global negative consequences in several aspects. Apart from the typical adverse effects on international relations, this conflict also has a negative impact on trade, maritime transport, and the global labor market for maritime personnel. The affected Ukrainian state is a regional maritime power and a global wheat supplier. The other conflict participant is Russia, a global exporter of raw materials and a country with a developed maritime commercial fleet. The direct negative effects include grain supply disruption and reduced maritime transport availability. Traditional maritime personnel from both countries face restrictions in their professions for various reasons, impacting the global maritime fleet and the European Union’s personnel supply. It will take many years to overcome the negative consequences of the conflict, and during this time, we must focus on seeking alternative solutions to the problems.
AN APPROACH STIMULATING THE COMPETITIVENESS AND SUSTAINABLE DEVELOPMENT OF ACADEMIC INSTITUTIONS: IMPLEMENTATION AND RESULTS
AN APPROACH STIMULATING THE COMPETITIVENESS AND SUSTAINABLE DEVELOPMENT OF ACADEMIC INSTITUTIONS: IMPLEMENTATION AND RESULTS
(AN APPROACH STIMULATING THE COMPETITIVENESS AND SUSTAINABLE DEVELOPMENT OF ACADEMIC INSTITUTIONS: IMPLEMENTATION AND RESULTS)
- Author(s):Svilen Kunev, Diana Antonova, Svilena Ruskova
- Language:English
- Subject(s):Economy, Human Resources in Economy, Business Ethics, Socio-Economic Research
- Page Range:346-356
- No. of Pages:11
- Keywords:career development; quality of life; academic development
- Summary/Abstract:The article presents a methodical approach aimed at stimulating career development and improving the quality of life of scientists and employees in an academic environment. For this purpose, an author’s concept was built for the integration of representatives of interested parties in the definition of problem areas, the development of measures and solutions supporting working conditions and career development. The testing was carried out in real conditions in 2024 at Ruse University „Angel Kanchev“. The results of the fieldwork are divided into five thematic directions and support: improving the conditions for career and personal development of those employed in an academic environment; increasing social responsibility towards employees and society on the part of universities, adapting to modern requirements and guidelines of strategic documents at the national and European level, stimulating the competitiveness and sustainable development of academic institutions.
A NEW FRONTIER: THE CONVERGENCE OF EMERGING DIGITAL TECHNOLOGY AND HIGHER EDUCATION
A NEW FRONTIER: THE CONVERGENCE OF EMERGING DIGITAL TECHNOLOGY AND HIGHER EDUCATION
(A NEW FRONTIER: THE CONVERGENCE OF EMERGING DIGITAL TECHNOLOGY AND HIGHER EDUCATION)
- Author(s):Plamen Milev, Kaloyan Dimitrov
- Language:English
- Subject(s):Social Sciences, Education, Higher Education , Distance learning / e-learning
- Page Range:357-365
- No. of Pages:9
- Keywords:Industry 4.0; Education 4.0; digital technologies; higher education; immersive reality; VR/AR
- Summary/Abstract:The development of technological capabilities creates an opportunity to connect education with the needs of the society of the future. This study aims to contribute to the expansion of discussion on the use of emerging digital technologies in higher educational settings to help their digital transformation. The purpose is to analyze how emerging immersive technologies can contribute to learning and teaching in HE. Through a systematic literature review, the paper identifies the pathway of emerging digital technologies to higher education 4.0 and explores immersive trends and innovations for HE. The results allow us to conclude that emerging immersive technologies are becoming a valuable tool in HEIs.
IMPACT OF CORPORATE CULTURE PUBLICIZED ON THE INTERNET ON THE ORGANIZATIONAL PERFORMANCE OF INSURANCE COMPANIES IN BULGARIA
IMPACT OF CORPORATE CULTURE PUBLICIZED ON THE INTERNET ON THE ORGANIZATIONAL PERFORMANCE OF INSURANCE COMPANIES IN BULGARIA
(IMPACT OF CORPORATE CULTURE PUBLICIZED ON THE INTERNET ON THE ORGANIZATIONAL PERFORMANCE OF INSURANCE COMPANIES IN BULGARIA)
- Author(s):Ilian Minkov, Yordan Ivanov
- Language:English
- Subject(s):Economy, Human Resources in Economy, Business Ethics
- Page Range:366-375
- No. of Pages:10
- Keywords:publicized corporate culture; insurance companies; primary elements; secondary elements
- Summary/Abstract:The corporate culture of business organizations publicized on the Internet has a positive influence on their image, but its impact on organizational performance and results has not been indisputable. In this regard, the purpose of this paper is to establish the correlation between the degree of development of the corporate culture of insurance companies in Bulgaria publicized on the Internet and their organizational performance, measured by the return on equity. The results obtained on the nature of this correlation in insurance companies show that it is rather weak, with the number of all publicized elements having a stronger positive influence than the number of only the primary ones.
GENERATIONAL DIFFERENCES IN GROCERY SHOPPING BEHAVIOR
GENERATIONAL DIFFERENCES IN GROCERY SHOPPING BEHAVIOR
(GENERATIONAL DIFFERENCES IN GROCERY SHOPPING BEHAVIOR)
- Author(s):Rositsa Nakova
- Language:English
- Subject(s):Economy, Micro-Economics, Financial Markets, Public Finances, Socio-Economic Research
- Page Range:376-385
- No. of Pages:10
- Keywords:consumer behavior; generation Baby Boomers; X; Y; Z; grocery shopping
- Summary/Abstract:Understanding the diverse grocery shopping behaviours across different generations is crucial for retailers, marketers, and policymakers. Each generational cohort—defined by shared experiences, values, and technological fluencies—exhibits unique preferences and habits that influence how they shop for groceries. This analysis explores the grocery shopping behaviours of Baby Boomers, Generation X, Millennials, and Generation Z, highlighting their distinct characteristics and the implications for the grocery industry.
PRECONDITIONS FOR ADEQUATE APPROXIMATION OF THE COMPANY VALUE
PRECONDITIONS FOR ADEQUATE APPROXIMATION OF THE COMPANY VALUE
(PRECONDITIONS FOR ADEQUATE APPROXIMATION OF THE COMPANY VALUE)
- Author(s):Tanya Panayotova
- Language:English
- Subject(s):Economy, Business Economy / Management, Public Finances, Marketing / Advertising
- Page Range:386-396
- No. of Pages:11
- Keywords:Value; ROIC; Growth; Intangible Assets; Customer Lifetime Value
- Summary/Abstract:In the modern economic environment, the awareness of owners and managers about the value of the company is an important precondition for its effective management. Determining the value is a complex process because it changes over the time and depends on many criteria. The assessment of the value is essential not only for the development of the individual enterprise, but also for the directions and growth rates of each industry and the economy as a whole. The purpose of this research is to determine the main components of value that should be managed. It is found that for the adequate approximation of the value of the company, it is necessary to consider the value of the “intangible assets”.
KNOWLEDGE MANAGEMENT IN BUSINESS ORGANIZATIONS – AN EMPIRICAL STUDY
KNOWLEDGE MANAGEMENT IN BUSINESS ORGANIZATIONS – AN EMPIRICAL STUDY
(KNOWLEDGE MANAGEMENT IN BUSINESS ORGANIZATIONS – AN EMPIRICAL STUDY)
- Author(s):Lubcho Varamezov, Yavor Stanev
- Language:English
- Subject(s):Economy, Business Economy / Management, Accounting - Business Administration, Human Resources in Economy, Business Ethics
- Page Range:397-407
- No. of Pages:12
- Keywords:10.53656/igc-2024.27
- Summary/Abstract:Nowadays, the competitiveness of business organizations is not based on classic production factors, but on the knowledge and experience of employees. Companies see knowledge management as a key factor in achieving and maintaining sustainable competitive advantages. The aim of this paper is to present the results of an empirical study of the application of knowledge management in Bulgarian business organizations, as well as to outline some conclusions. The data was generating by conducting an online survey among 57 Bulgarian business organizations.
