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Article ID: CBB977388768

25 Years of Change in Management Control Systems and Business Education in Estonia (2017)

Acta Baltica historiae et philosophiae scientiarum
Volume: 5
Issue: 1
Pages: 81-100
Publication date: 2017
Language: English

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Management techniques Management; administration Business and commerce Education 21st century 20th century, late Estonia

During the last 25 years, the Estonian economy has transitioned from a centrally planned economy to a market-oriented, globally open, highly competitive economy. Although during these years there has been fast growth and Estonians could tell a lot of success stories, research shows that management practices are still less advanced compared to those in enterprises from developed countries. Increased competition, openness and innovation increased the significance of more sophisticated management control systems (MCS). Researchers accentuate the role of managers and their education and training in using and developing more sophisticated MCS in companies. The objective of the current paper is to better understand how changes in the business environment, managerial training and education are connected to developments in MCS in Estonia. This article provides an overview of the statistics and studies completed in Estonia over the last 25 years. As this study shows, the last decade has brought a different level of internationalization and development in the business environment and business education. The problems associated with developments in MCS, using cloud technology, business education and managerial training are the same in Estonia as in developed countries. To develop the business and economic environment in the country, Estonian entrepreneurs need high-level data processing, analytical and financial education, and practical training courses.

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