Public Lecture on the Successful Corporate Management - Strategic Planning, Budgeting, Team Building
Three UNWE Faculties - the Finance and Accounting Faculty, General Economics Faculty and the Management and Administration Faculty organized a public lecture on the Successful Corporate Management - Strategic Planning, Budgeting, Team Building with guest-lecturer Mr. Nikolay Petrov, one of the managers at REWE - a multinational corporation managing retail chains.
Prof. Dr. Rumen Brusarsky, Dean of the Finance and Accounting Faculty, opened the event and introduced Nikolay Petrov as a person with 12 years of international management experience in multinational retail companies, CEO and COO in Bulgaria and Russia, manager of a company that is in the Top 20 of the largest companies in Bulgaria.
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| Nikolay Petrov and Prof. Rumen Brusarsky |
"A person who with his knowledge, skills and experience can inspire our students", thus Prof. Dr. Rumen Brusarsky explained the motives for inviting the guest-lecturer.
Mr. Nikolay Petrov examined the elements that create successful corporate management, the three important stages that must be passed through in that process, namely - strategic planning, budgeting and team formation. "A great deal of preparation is needed in advance for strategy formulation because the wrong strategy leads or could lead to great financial losses", said the guest-lecturer. The preliminary data to be collected include macroeconomic information, data on the external environment as well as the internal environment, data on competition, on technology use, etc. And on the basis of these, the strategy is prepared.
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In his lecture Mr. Nikolay Petrov presented the actual strategy, budget and team of REWE. "The most important thing in a strategy is to describe where we are and where we want to be. And after the strategy we move to the tactics, to the concrete projects, to the detailed description of the processes and the daily tasks that need to be performed in order to implement the strategy", said the guest-lecturer.
Then he explained about the budgeting which includes a description of all planned income and expenditure. "The budget must be accurate, clear and functional", summarized Mr. Petkov. He outlined that one of the key things for a business is forming a successful team and building communication channels as well as staff appraisals, training and motivation.
The participants in the event expressed their thankfulness for the interesting lecture which showed the experience of the lecturer in starting and growing retail companies as well as the experience of the manager who understands and has led the entire cycle of business management.
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The discussion was attended by Prof. Dr. Margarita Atanasova, Dean of the General Economics Faculty, Prof. Dr. Rumen Brusarsky, Dean of the Finance and Accounting Faculty, Prof. Dr. Silvia Trifonova, Vice Dean of the Finance and Accounting Faculty, lecturers, Doctoral students and undergraduates.
Nikolay Petrov has 12 years of international management experience in a multinational food retail company as CEO and COO in Bulgaria and Russia, 7 years of experience in middle corporate management, 7 years of experience as an entrepreneur in food retail and wholesale.
He is a long-term manager in a company that is part of the Top 20 largest companies in Bulgaria.
He has an exceptional professional experience in launching and growing retail companies in Bulgaria and Russia, in creating and transforming companies in sales and procurement.
Nikolay Petrov is an experienced professional with profound knowledge and understanding of the entire cycle of business management in the retail and supermarket sector. Board member involved and engaged in all key performance indicators /KPI/ of the company, directly responsible for the company's revenue and costs results.
