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Development of a tool for optimizing the management processes in the field of innovation in the Bulgarian furniture enterprises

Author

Listed:
  • Georgieva, Daniela
  • Popova-Terziyska, Radostina
  • Neykov, Nikolay

Abstract

Innovation is primarily associated with a high level of uncertainty, risk, and a lot of investments. These negatively affect the Bulgarian forest enterprises, which in general are “low-tech” and are investing less in innovation. The main goal of the paper is, by the use of the Markov Chains methodology, to propose an adapted methodology for risk assessment at the beginning of the innovation process in Furniture production in Bulgaria. Additionally, the study presents possible situations and describes them throughout the theoretical approaches in a probabilistic way. The research results can be used to avoid some decision-making mistakes before the start of the innovation process through an easy-to-use methodology

Suggested Citation

  • Georgieva, Daniela & Popova-Terziyska, Radostina & Neykov, Nikolay, 2021. "Development of a tool for optimizing the management processes in the field of innovation in the Bulgarian furniture enterprises," MPRA Paper 110745, University Library of Munich, Germany, revised 2021.
    • Handle: RePEc:pra:mprapa:110745
    as

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    File URL: https://mpra.ub.uni-muenchen.de/110745/1/MPRA_paper_110745.pdf
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    References listed on IDEAS

    as
    1. Georgieva, Daniela & Popova, Radostina, 2019. "Digitisation in forest industry in Bulgaria - state and perspectives," MPRA Paper 96021, University Library of Munich, Germany, revised Jun 2019.
    2. Georgieva, Daniela, 2020. "A study of intangible assets disclosure as factor for sustainability: an evidence from Bulgarian furniture enterprises," MPRA Paper 103245, University Library of Munich, Germany.
    3. Radostina Popova, 2019. "Innovation Development Of The Furniture Industry In Bulgaria," CBU International Conference Proceedings, ISE Research Institute, vol. 7(0), pages 256-261, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    innovation; furniture enterprises; Markov Chains; decision-making;
    All these keywords.

    JEL classification:

    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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