Interaction of Subordinate Staff Management and Factors of Economic Performance of Companies in the Bulgarian Mining and Quarrying Sector

¹ Higher School of Security and Economics – Plovdiv, 13 Kuklensko Shose Blvd., 4004 Plovdiv
² Daugavpils University, Parades st. 1, Daugavpils, LV-5401, Latvia
³ VUZF University, 1 Gusla Street, 1618 Ovcha Kupel Square, Sofia, Bulgaria

Abstract

The achievement of high production and economic results in the economic entities of the mining industry in Bulgaria is possible only through the elaboration of an effective system for management of the subordinate personnel. In the context of the systematic approach, it is of paramount importance to outline the factors for subordinate staff management which have a positive impact on the economic status of the business organizations. Building a model of factors for subordinate staff management enables us to identify and implement multiple approaches and mechanisms. This creates opportunities for improving the management of the subordinate personnel, which has a positive impact on the development of the mining companies. The purpose of this article is to study the factors for subordinate staff management and to elaborate a model of those which have a direct and indirect impact on the production and economic results of the companies in the quarrying industry in Bulgaria. The article is structured in two main sections. The first includes an analysis of the factors of management of the subordinate workforce, examining the connections and relations with the economic performance of the companies. The second section introduces a model of management factors which prove to be particularly relevant to achieving high economic performance in the Bulgarian mining companies.