A model for selection of a management team to ensure the sustainability and development of the business organizations

Abstract

The managers, through their professional qualifications, personal qualities, norms of behavior and acquired experience, ensure the achievement of the targets and strategies set in the economic organizations. In this respect, the guarantee of their sustainability and development is only possible through building an effective system of selection of the management staff. In the context of the systematic approach, it is of paramount importance to develop a model for selecting a management team to ensure the sustainability and development of the businesses. The justification of the factors, as well as their action and interaction to achieve the sustainability and development of the economic organizations, is of high value for the implementation of a system for selection, training and professional development of the management team. In this regard, the research on organizations which have achieved positive financial and economic results can help to clarify the strength of the interrelation between the varying factors in the selection of a management team. The purpose of the actual article is to explore and model the main factors for selecting a management team, which have a direct or indirect impact on the sustainability and development of the business organizations in Bulgaria.