Continuing Training of Bulgarian Managers and Entrepreneurs
Continuing Training of Bulgarian Managers and Entrepreneurs

Author(s): Mariya Neycheva
Subject(s): Social Sciences, Economy, Education, Business Economy / Management, Vocational Education, Adult Education
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: lifelong learning; continuing vocational training; management training; Bulgarian management
Summary/Abstract: Vocation training of managers has a positive impact on profitability, productivity, and staff retention. Moreover, it makes managers aware of the significance of learning for employees’ satisfaction and motivation. The present paper focuses on determinants of company’s investments in continuing training of managers/entrepreneurs. The empirical analysis is based on a survey of Bulgarian companies located in the southeastern and southwestern part of the country. The results highlight the role of internal environment for involvement in management training. The likelihood for training is higher for larger companies and also for those with R&D and innovations. The focus on human resources development as well as the learning-oriented culture is important. Additionally, the output implies that the lack of trainers with expertise corresponding to the specific company needs is a major determinant of underinvestments in staff training in Bulgaria. These results have practical implications for the government policy for stimulating the firm investments in lifelong learning.

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