Validation of the Heuristic Model for SMART Management in a Medium-Sized Industrial Enterprise

Abstract

This article presents the results of the approbation of a Heuristic model for SMART management in a medium-sized industrial enterprise in a specific economic entity. The main practical steps and the effects achieved as result of the introduction of the model in the selected industrial enterprise are summarized. The results achieved at different stages and the analytical assessments, the improvements, the restructuring and other strategic and operational activities leading to effective changes in the operation of the industrial unit are presented. Conclusions and inferences have been made, the most important of which is that the Heuristic Model for SMART management in the medium-sized industrial enterprise is also applicable in small industrial enterprises having a complex and multi-layered structural architecture. In order to comply with the regulation of the European Union for the protection of personal data, the name of the company is not indicated in this article, and the provided data is publicly available.

Keywords

• Approbation
• Heuristic model
• SMART management
• Industrial enterprise

References

1. European Union. (2020). User guide to the SME definition. https://op.europa.eu/en/publication-detail/-/publication/756d9260-ee54-11ea-991b-01aa75ed71a1
2. Portal Registery Agency. (n.d.). Retrieved from https://portal.registryagency.
3. Temelkova, M. (2010). Controlling in the production organization. Varna: Colour print.