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

Georgieva, Daniela and Popova-Terziyska, Radostina and Neykov, Nikolay (2021): Development of a tool for optimizing the management processes in the field of innovation in the Bulgarian furniture enterprises. Published in: Academy of Accounting and Financial Studies Journal , Vol. 1, No. 26 (2022): pp. 1-11.

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

• Item Type: MPRA Paper
• Language: English
• Keywords: innovation, furniture enterprises, Markov Chains, decision-making
• Subjects: M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M2 - Business Economics > M20 - General; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O10 - General; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O30 - General; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O32 - Management of Technological Innovation and R&D

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