Contemporary Challenges to Personnel Development in the Industrial Company

Marin Geshkov and Fahri Idriz
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Marin Geshkov: University of National and World Economy, Sofia, Bulgaria
Fahri Idriz: Technical University, Sofia, Bulgaria

Economic Alternatives, 2019, issue 4, 596-606

Abstract: For every business which wants to grow and develop, the first and most important rule is to invest in human resources. The most important investment a business can make is to educate its human resources. In many sectors, human labor is and will remain irreplaceable. One of the most substantial aspects of business growth is competitive power. This competitive power is discovered, used and acknowledged by the management. Managers use the potential of skilled workers to increase their business’ production directly or indirectly while motivating them to reach a climax in their professional development. Every industry, thanks to its successful managers and marketers, can offer high-quality products and services. Human resources are the main component of a successful business. However, there are some contemporary challenges in front of personnel development. Our study looks for these challenges, analyses them and proposes some measures to effectively manage personnel development. Our paper is organized into the following main sections: Introduction- familiarizing the readers with the main issues in HR, Research Goals - discussing main research goals in the paper, Research Methods - using observational and analytical methods, Results- discussing main results and applications, and Conclusion.

Keywords: Business; Growth; purpose; human; success (search for similar items in EconPapers)
JEL-codes: J24 J53 J62 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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