Year 2026, Issue 2
Date published30.6.2026
Table of content
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TEODORA DIMITROVA, Ivan Marinov
AI-DRIVEN E-BUSINESS: THE FUTURE OF CUSTOMER PERSONALIZATIONKeywords: artificial intelligence, retail trade, e-commerce, customer personalization, customer behavior.Summary: Contemporary consumers have high expectations regarding the speed, convenience, and personalized solutions of online shopping, which requires the implementation of advanced technologies for analysing consumer behavior, preferences,... Contemporary consumers have high expectations regarding the speed, convenience, and personalized solutions of online shopping, which requires the implementation of advanced technologies for analysing consumer behavior, preferences, and accumulated data. In this context, artificial intelligence provides opportunities for dynamic customer profiling, predicting future needs, and offering personalized products and services. The implementation of intelligent systems in e-commerce provides significant benefits, including higher conversion rates, increased sales volumes, and marketing strategies optimization. Personalization not only enhances customer loyalty and strengthens trust in brands but also reduces customer churn and encourages repeat purchases. From retailers point of view, artificial intelligence integration contributes to more efficient product portfolio and inventory management, while simultaneously helping to reduce operating costs. Global e-commerce leaders, such as Amazon, Alibaba, eBay, Rakuten, and Shopee, already employ a wide range of artificial intelligencebased solutions to enhance customer experience and strengthen their competitive positions on the market. -
MIHAIL CHIPRIYANOV
STRATEGIC BENEFITS FROM SMART CITY INITIATIVES A ROAD MAP FOR INTELLIGENT TRANSFORMATIONKeywords: smart city, intelligent city, sustainable development, urban development, strategic management, digital transformation.Summary: The article presents an analysis of urban system modernization, focusing on smart strategies and solutions for sustainable development. The study is based on a three-stage methodology comprising theoretical analysis, strategic... The article presents an analysis of urban system modernization, focusing on smart strategies and solutions for sustainable development. The study is based on a three-stage methodology comprising theoretical analysis, strategic modeling, and an empirical assessment of the Bulgarian context. The research presents the smart city as a flexible organizational model. Emphasis is placed on the academic discussion regarding the process of policy integration in this field, the role of public-private partnerships, and the opportunities for overcoming infrastructure and workforce deficiencies at national level. The findings provide a rationale for a transition toward smart cities, a process based on achieving a balance between economic development, social equity, and environmental sustainability. -
ZDRAVKO LYUBENOV, Galina Gateva-Hristova
THE ROLE OF INTERPERSONAL RELATIONS IN THE MANAGEMENT OF INTERNATIONAL BUSINESS ORGANIZATIONSKeywords: interpersonal relations, social capital, personnel, organizational effectiveness, international business organization.Summary: In the conditions of the contemporary global economy, the market resilience of international business organizations no longer depends solely on technological advancement or fiscal optimization. The principal strategic asset is... In the conditions of the contemporary global economy, the market resilience of international business organizations no longer depends solely on technological advancement or fiscal optimization. The principal strategic asset is increasingly embodied in social capital and the ability to build sustainable interpersonal relations.The effective management of such organizations requires precise navigation within a complex network of interactions that extend beyond formal hierarchies and are shaped by the level of cultural intelligence, mutual trust, and flexible communication approaches. The present study aims to analyze the significance of interpersonal relations within the managerial architecture of the international business organization, arguing that they constitute a critical factor in achieving high organizational effectiveness. The object of the study is interpersonal relations, examined as a leading category in management science and their direct impact on the success of global business processes. The subject of the study focuses on the specific manifestations and psychological patterns of interpersonal relations, the mechanisms through which they influence managerial decision-making, and their role in fostering trust and cooperation within a multicultural business environment. -
Nawal Abbes
THE IMPACT OF ELECTRONIC PAYMENT ON ECONOMIC GROWTH IN ALGERIA: A QUARTERLY ECONOMETRIC ANALYSIS USING THE ARDL MODEL (20162025)Summary: This study investigates the dynamic relationship between electronic payment indicators (e-POS terminal activity and online payments) and economic growth in Algeria, measured by Gross Domestic Product (GDP). Using the Autoregressive... This study investigates the dynamic relationship between electronic payment indicators (e-POS terminal activity and online payments) and economic growth in Algeria, measured by Gross Domestic Product (GDP). Using the Autoregressive Distributed Lag (ARDL) approach, the study addressed the limitations of a short time series by converting annual data into quarterly frequency via statistical interpolation, resulting in a sample of 35 observations. The Bounds Test results demonstrated the absence of a longrun cointegrating relationship, suggesting that Algeria's digital payment sector remains in a transitional phase and has not yet attained structural maturity. However, short-run dynamics revealed a positive and statistically significant effect of e-POS activity at the 10% level, whereas online payments exhibited a significant negative effect. Diagnostic tests, including CUSUM, confirmed the structural stability of the model, which possesses an explanatory power (Adjusted R-squared) of 90%. The study emphasizes the necessity of localizing digital services and fostering financial inclusion to integrate the informal economy into the formal banking system. Key recommendations include strengthening cybersecurity, expanding digital payment infrastructure across regions, and encouraging financial innovation. -
Elena Valerieva Valcheva
ANALYSIS OF THE APPLICATION OF ENTERPRISE INFORMATION SYSTEMS FOR SUPPLY CHAIN MANAGEMENT IN TRADE IN BULGARIAJEL: L81 L86 M15 R40Keywords: supply chain management, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM).Summary: This paper examines the nature, specific relationships, and interdependencies between Supply Chain Management (SCM) in trade and Enterprise Information Systems (EIS). The main objective is to investigate the current state and trends... This paper examines the nature, specific relationships, and interdependencies between Supply Chain Management (SCM) in trade and Enterprise Information Systems (EIS). The main objective is to investigate the current state and trends in the adoption of EIS for SCM in trading enterprises in Bulgaria and, on this basis, to identify the major influencing factors. Particular emphasis is placed on the application of Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) systems. The study is based on publicly available data from the National Statistical Institute (NSI) and the findings of a questionnaire survey. The research thesis is that enterprise size has a significant influence on the choice of EIS. To examine the relationship between the number of employees and the implementation of ERP systems, one-way analysis of variance, the chi-square test, and regression analysis were employed. The research findings indicate a high level of Internet access among enterprises, relative stability in the implementation of ERP systems, and a decline in the use of CRM solutions.