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Lyudmil Krystev, Marin Marinov, Valentin Milinov
FINANCIAL EFFICIENCY OF THE BULGARIAN GENERAL INSURANCE COMPANIES
IN THE CONTEXT OF FINANCIAL CONTROLLING
Abstract:
The purpose of the article is to examine the economic efficiency of the leading insurance companies (according to the "gross premium income" criterion) from the "General Insurance" branch. The research methodology is based on leading indicators for assessing the economic efficiency of the insurance company - "operating profit margin" and "return on equity". Economic efficiency indicators are also presented in the form of an index. The main results of the article are presented in figures, with an analysis of the economic efficiency of the leading insurance companies from the "General Insurance" branch. Analysis of the data shows that the leading insurance companies are performing oppositely to the General Insurance sector averages.
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Badri Gechbaia, Ketevan Goletiani, Giorgi Abashidze, Zurab Nasaraia
THE ROLE OF HUMAN RESOURCES MANAGEMENT IN ACHIEVING SUSTAINABLE DEVELOPMENT GOALS IN THE COMPANY
Abstract:
In today’s business world Human Resources Management (HRM) has expanded beyond its role. Now it plays a crucial part in guiding companies towards achieving Sustainable Development Goals (SDGs). This analysis explores the connection between HRM practices and the pursuit of objectives within organizations. HRM serves as a pillar in fostering a corporate culture where social responsibility and environmental awareness seamlessly integrate into everyday operations. By aligning HRM strategies with SDGs companies can effectively utilize their resources to make contributions to society and the environment. A key element in this collaboration is employee engagement. Committed and motivated staff members actively contribute to achieving sustainability targets. HRM practices that prioritize skill development, diversity and inclusion and employee well-being not improve performance but also lay the foundation for a socially responsible workforce. Through training programs HRM ensures that employees have the knowledge and skills to address sustainability challenges promoting a culture of continuous learning and innovation. Additionally, strategic HRM plays a role in integrating sustainability considerations throughout an employee’s journey within the organization. From recruitment processes that emphasize alignment with company values to performance evaluations incorporating sustainability metrics HRM guides employee behavior and attitudes towards practices. The integration of HRM, with SDGs extends beyond boundaries. Human resource management (HRM) experts are playing a growing role, in fostering supply chains guaranteeing sourcing methods and working together with external partners to enhance the company’s positive influence, on the broader community. In addition, HRM becomes a driver of collective action towards shared sustainability goals through partnerships with educational institutions, NGOs and industry peers. As such, this implies that there exists possible trans formative power within human capital embedded in how these two concepts interact with each other. This means that HRM as a functional requirement but also a strategic enabler for sustainable development is not just part of it but also a significant factor for any company operating in this era of raised environmental and social consciousness. Considering the given factors, the objective of this article is to explore the role of Human Resource Management (HRM) in aligning organizational practices with Sustainable Development Goals (SDGs) and to identify specific HRM strategies that foster sustainable growth within companies.
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Svetlana Nikolova
RESEARCH ON THE CORRELATION BETWEEN INNOVATIVE ACTIVITIES AND COMPETITIVENESS IN BULGARIAN COMPANIES
Abstract:
This article throws light on the theoretical and practical aspects of the existing bilateral correlation between innovative activity, innovative activities and company competitiveness. In the course of this analysis it is emphasised that, on the one hand, the level of company competitiveness in organisations which determines the intensity of innovative activities is the result of the state of the competitive environment. On the other hand, the innovative activities of companies which determines the degree of their company competitiveness is also the result of the state of this external compet¬itive environment. This means that a bilateral correlation exists between the innovative activities of organisations and their company competitiveness, and it is dependent on the state of the external competitive environment (i.e. it is the uniting link in this correlation).
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Ralitsa Dimitrova
RESEARCH ON THE LIFE CYCLE OF PUBLIC COMPANIES OF THE SOFIX INDEX
Abstract:
Organizations, similar to living creatures, have a life cycle and undergo a number of recurrent and predictable models of behaviour throughout their growth and development. It is namely the proper diagnosis of the life cycle and the adequate choice of strategy that could be at the basis of an organization’s success. This article makes an attempt to apply Adizes’ model of life cycle to the financial diagnosis of Bulgarian public companies. The “healthy” state of the companies of the SOFIX index has been diagnosed and the life cycle phase in which each of them is at has been determined.
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Dragan Georgiev
THE ROLE OF INSURANCE CULTURE IN THE DEVELOPMENT OF THE INSURANCE BUSINESS
Abstract:
This article discusses insurance culture as a factor in the develop¬ment of the insurance business. The author assumes that the image of insurers is directly dependent on insurance culture.
Special attention is paid to management and its role in raising the level of in-surance culture. On the basis of practical experience, insurance culture is related to the specific aspects of an insurance service.
It is assumed that in order for the level of insurance culture to be raised, a certain role is played by advertising.
The author also gives proof not only of the necessity of raising the insurance culture of the employees of an insurance company, but also of the potential users of insurance products.
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Atanas Damyanov
AN OUTLINE OF HARD AND SOFT PARTNERSHIPS IN INTERNATIONAL BUSINESS
Abstract:
This research is in two sections.
The first promotes the possible types of partnerships and emphasis is placed on business relations. It also introduces the phenomenon of a ÒÐÐ (Trans-Pacific Partnership). It defines the characteristics of hard and soft partnerships.
The second part develops a set of tools for the analysis and evaluation of partnerships. For this purpose, two matrices are proposed. The first is for researching the issue of international levels with two vectors. The second matrix discusses intercompany partnerships which involves three dimensions: the type of partnership, the level of internationalization and the size of the companies.
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Velichko Adamov
PHILOSOPHY OF GENERAL CORPORATE FINANCING
Abstract:
Corporate financing requires sufficient knowledge on the two basic elements of liability as a component of financial balance: long-term and short-term equity. Respectively the article analyzes the ratios at which company investment may be carried out by equity and various issues of positive and negative equity structure are being outlined as well. Certain recommendations are being made for optimizing owners’ equity and debt capital in order to achieve an effective investment policy. Spe¬cial attention has been drawn on capital management practices in Bulgarian compa¬nies recognizing those practices’ constant need of improvement and development.
