European Qualifications Framework (EQF) has 8 levels (1 – the lowest, 8 – the highest).
Levels reflect the complexity level of acquired knowledge, skills and competences (learning outcomes).
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Information about the Latvian qualifications referenced to Latvian qualifications framework (LQF)
6
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5
Professional skills and attitudes
1. To assess the patterns and principles of economic and general market development.
2. To analyse the impact of economic policy on the company’s operations and development.
3. To assess business development trends.
4. To analyse the impact of the sector/field on the company’s operations and development.
5. To assess the factors influencing the business environment.
6. To analyse external environment factors and their impact on the company’s operations.
7. To assess the impact of global (economic) development trends on the company’s operations and the development.
8. To assess market and development trends in national economy sectors.
9. To analyse the company’s development opportunities in the local market.
10. To analyse the company’s development opportunities on an international scale.
11. To participate in establishing the company’s goals.
12. To participate in developing the company’s operational strategy.
13. To formulate field-specific strategic, tactical, and operational goals.
14. To formulate control indicators for goals at different levels.
15. To analyse internal environmental factors influencing the company’s operations.
16. To assess the sufficiency of company’s resources in line with the company’s strategy.
17. To prepare a resource analysis report.
18. To prepare proposals for rational use of resources.
19. To analyse the company’s development trends and patterns.
20. To develop proposals for drafting the company’s operational plans.
21. To assess risks associated with the company’s operations and development.
22. To draft operational activity plans.
23. To analyse sales opportunities and channels for products.
24. To assess the market situation and development opportunities.
25. To assess the competitive situation and the company’s competitiveness.
26. To identify the target market, including the target audience.
27. To determine the pricing strategy.
28. To select appropriate sales promotion measures.
29. To analyse sales opportunities and channels for products.
30. To prepare reports, overviews, and other related documents.
31. To calculate costs.
32. To analyse the business and financial performance results.
33. To determine the investments necessary for the implementation of the company’s operational plans.
34. Budget planning.
35. To analyse processes within the company.
36. To assess the effectiveness and efficiency of processes.
37. To provide well-founded proposals for the company’s development.
38. To develop proposals for process improvements and innovations.
39. To manage the functional process in accordance with quality and safety system requirements.
40. To participate in the maintenance and improvement of the quality system.
41. To participate in the maintenance and improvement of the occupational safety system.
42. To participate in the maintenance of the logistics system.
43. To plan the personnel.
44. To prepare proposals for the criteria for selecting potential employees.
45. To manage a team/employees.
46. To assess the qualification and performance of an employee.
47. To monitor the performance of subordinates’ duties.
48. To organise personnel training.
49. To cooperate to achieve the company’s goals.
50. To provide proposals for the development of personnel motivation criteria.
51. To support employees.
52. To prepare a project.
53. To manage a project.
54. To implement a project.
55. To participate in project implementation, representing own company.
56. To read, analyse, and interpret data.
57. To assess the business environment and factors influencing it.
58. To develop a financial management and control system in line with the organisation’s business model.
59. To develop the organisation’s financial management control mechanism.
60. To assess the availability of financial resources for the achievement of the organisation’s strategic goals.
61. To develop achievable financial indicators for the implementation of the organisation’s strategy.
62. To identify the organisation’s financial position.
63. To assess the extent to which the actual situation aligns with the financial objectives set by the organisation.
64. To monitor the implementation of financial plans.
65. To monitor the relevant sources of finance.
66. To monitor the management of current assets.
67. To monitor the management of cash flow.
68. To develop proposals for the improvement of the organisation’s financial plans and justify the efficiency of the proposals.
69. To ensure cooperation with supervisory institutions in accordance with the procedures established by regulatory enactments.
70. To develop the organisation’s credit policy.
71. To coordinate the decision of the organisation’s owners on profit distribution.
72. To develop a policy for attracting financial resources and creating a capital structure.
73. To develop the organisation’s pricing policy.
74. To develop control figures and guidelines for the budget in line with the organisation’s goals.
75. To consolidate functional budgets into the overall budget.
76. To evaluate the implementation of the organisation’s overall budget/budget.
77. To analyse deviations between actual and expected indicators.
78. To evaluate the effectiveness of the budget and whether it corresponds to the organisation’s goals.
79. To evaluate whether the budget corresponds to the market situation.
80. To develop budget adjustments based on changes in market conditions and the organisation’s actual performance.
81. To develop a quality control mechanism for financial statements.
82. To ensure the quality control of financial statements.
83. To ensure the preparation of financial statements in accordance with regulatory enactments, IFRS/IAS, and ESG principles.
84. To identify the organisation’s financial position.
85. To assess potential future changes in the organisation’s financial position.
86. To assess the data of the organisation’s financial statements.
87. To compare financial data with the average indicators in the sector relevant to the organisation’s business activities.
88. To determine/calculate the value of business activity.
89. To anticipate and assess future changes in the organisation’s value.
90. To work as part of a team and organise teamwork.
91. To assess the performance and work result of employees.
92. To develop guidelines for the organisation’s financial investment policy.
93. To evaluate the effectiveness of financial investment policy and whether it corresponds to the organisation’s goals.
94. To determine the size and structure of the investment portfolio.
95. To develop the structure of the investment portfolio by evaluating the available financial resources and risks.
96. To create an investment portfolio based according to the purpose of investment, based on the decision on the strategic business development.
97. To monitor the implementation of the financial investment project as planned.
98. To make adjustments in the implementation of the financial investment project.
99. To evaluate optimal sources of funding for financial investment projects and the organisation’s readiness to attract them.
100. To develop a plan for the attraction of financial investments.
101. To identify the organisation’s financial risks.
102. To assess the organisation’s potential financial risks.
103. To develop a mechanism for managing the organisation’s financial risks and monitoring its transactions, including in accordance with requirements for the prevention of money laundering, terrorism and proliferation financing, and restrictions of international and national sanctions.
104. To apply the developed mechanism for managing the organisation’s financial risks.
105. To develop recommendations for decision-making in the context of financial risks.
106. To develop preventive risk mitigation measures.
107. To evaluate the level of the impact of financial risks.
108. To evaluate the possibilities of maximising income under the existing risk level.
General skills and attitudes
1. To understand sector-specific regulatory requirements.
2. To apply the necessary regulatory enactments for problem-solving.
3. To apply the field-specific standards.
4. To organise the workplace in accordance with occupational safety requirements.
5. To comply with occupational safety requirements.
6. To identify potential risks when performing work tasks.
7. To apply occupational safety, civil defence, fire safety, and environmental protection requirements.
8. To observe the norms of communication culture and professional ethics.
9. To articulate and defend a well-reasoned opinion.
10. To prepare and publish presentation materials.
11. To demonstrate tolerance towards diverse viewpoints.
12. To reach compromises.
13. To manage stress in social communication processes.
14. To use critical and creative thinking.
15. To be familiar with research methods in the field.
16. To compile, systematise, and analyse data.
17. To process information, selecting the most appropriate solution.
18. To process and interpret research findings.
19. To prepare a report on the research findings.
20. To conduct research and process its findings.
21. To perform statistical processing of data.
22. To prepare reports and publications.
23. To prepare presentation materials and publications.
24. To justify own opinion.
25. To use information technology tools and services.
26. To communicate within collaboration networks, using the Internet.
27. To search for and compile information.
28. To store electronic documentation and data securely.
29. To assess own professional experience.
30. To understand learning needs for career development.
31. To systematically acquire new knowledge and experience.
32. To keep track of sector developments.
33. To apply acquired knowledge in practice.
34. To communicate verbally and in writing in various professional situations and settings.
35. To use professional terminology.
36. To present issues both in professional setting and to general public.
Professional knowledge
1. Business environment and its key elements, including sectoral policy.
2. Existing issues in the economy, sector, and business operations.
3. Patterns and principles of economic processes.
4. Analysis of indicators characterising the business environment.
5. Statistical analysis methods in economics.
6. Development patterns of business environment factors.
7. Global (economic) development trends.
8. Theories of business development.
9. Methods for analysing impact factors.
10. Specific features of national economy sectors.
11. International cooperation strategies.
12. Methods for assessing the market development.
13. Business strategies.
14. Fundamental principles of planning and formulating goals.
15. Methods for formulating goals.
16. Determination of indicators and metrics for goal control.
17. Business development strategies.
18. Internal business environment factors and methods for their analysis.
19. Resource and financial analysis.
20. Efficiency assessment methods.
21. Methods for selecting and analysing information.
22. Methods for analysing and assessing the competitiveness.
23. Marketing strategies.
24. Fundamental principles of market segmentation.
25. Types of sales channels.
26. Sales promotion measures and approaches.
27. Methods for selecting and analysing information.
28. Methods for analysing and assessing the competitiveness.
29. Marketing strategies.
30. Fundamental principles of market segmentation.
31. Types of sales channels.
32. Sales promotion measures and approaches.
33. Fundamental principles and methods of business accounting.
34. Methods for analysing business performance indicators.
35. Financial analysis methods.
36. Statistical analysis methods.
37. Prime cost calculation.
38. Document management.
39. Fundamental principles of developing business processes.
40. Nature and patterns of processes within the functional area.
41. Process organisation.
42. Analysis and assessment of processes.
43. Fundamental principles of quality system operation and methods for their improvement.
44. Risks associated with deficiencies or flaws in the quality system.
45. Principles of supply chain security and its operation.
46. Internal monitoring of the work environment.
47. Fundamental principles of logistics system operation and provision of logistics processes.
48. Personnel management and development.
49. Labour law, including labour unions.
50. Efficient communication.
51. Motivation theories.
52. Teamwork.
53. Leadership and emotional intelligence.
54. Interaction between different generations in a team.
55. Fundamental principles of project preparation and management.
56. Implementation, analysis, and management of projects within the company.
57. Types of projects, including international and social projects.
58. Data analysis methods.
At the comprehension level:
1. Teamwork.
2. Theory of financial analysis.
3. Types of financial statements.
4. Theories of financial management.
5. Financial planning.
6. Financial planning documents.
7. Types of financial risks.
8. Fundamental principles of developing financial management policy.
9. Theory of financial management.
10. Investment efficiency.
11. Investment efficiency indicators.
12. Principles of investment policy.
13. Structure of the investment portfolio.
14. Types of investment portfolios.
15. Types of investments.
16. Motivation theories.
17. Theories of personnel management and development.
18. Analysis of deviations from plans.
19. Project management principles.
20. Principles of resource and process management.
21. Theory of revision and audit.
22. Fundamental principles of risk management.
23. Theory/ fundamental principles of risk management.
24. IFRS (International Financial Reporting Standards).
25. Strategic planning process.
26. Conventional and unconventional risk mitigation methods (risk acceptance, risk transfer, risk avoidance).
27. Principles of business planning.
28. Probability theory.
At the application level:
1. Business assessment methods.
2. Methods for developing pricing policy.
3. Financial analysis methods.
4. Methods for drafting a financial budget.
5. Financial control and monitoring processes, and the applicable regulatory enactments.
6. Financial statements and their types.
7. Composition of financial statements and principles of their preparation.
8. Financial planning and control.
9. Consolidation of financial plans.
10. Methods for analysing financial risks.
11. Financial risk management measures.
12. Financial risk management and prevention measures.
13. Financial management.
14. Principles and methods of financial management.
15. Sources of investments.
16. Analysis of investment return.
17. Investment assessment methods.
18. Creation of an investment portfolio.
19. Risk analysis of the investment portfolio.
20. Management of teamwork.
21. Regulatory enactments governing business activity.
22. Decision-making methods.
23. Regulatory enactments governing the prevention of money laundering, terrorism and proliferation financing, and restrictions of international and national sanctions.
24. Personnel motivation.
25. Classification of risks by probability.
26. Risk management concepts.
27. Types of risk management strategies.
28. Communication skills.
General knowledge
At the conceptual level:
1. Field-specific regulatory enactments and standards.
2. Organisation of the occupational safety system.
At the comprehension level:
1. Fundamental principles of circular economy.
2. Social and political structure of society.
3. Social diversity and the principle of equality.
4. Intercultural communication.
5. Techniques for effective communication.
6. Communication (including intercultural communication) in society (including multicultural society).
7. Argumentation techniques.
8. Opportunities and potential risks of information technologies.
9. Security of electronic information.
10. Planning and decision-making.
At the application level:
1. Requirements of field-specific regulatory enactments and standards.
2. Regulatory occupational safety, civil defence, fire safety, and environmental protection requirements.
3. Time planning.
4. Business communication.
5. General and professional ethics.
6. Principles of promoting sustainable development of society.
7. Scientific research methods.
8. Fundamental principles of statistics.
9. Principles of sustainable development.
10. Preparation of reports and publications.
11. Information technologies for data processing, analysis, and management.
12. Self-assessment mechanisms.
13. Planning of studies, career, and work progress.
14. Time planning techniques.
15. Extensive and appropriate vocabulary.
16. Functional grammar.
17. Professional terminology.
18. Fundamentals of intercultural communication.
Professional competences
1. Ability to analyse the environment influencing the company’s operations.
2. Ability to analyse national economic policy and global trends.
3. Ability to assess changes in the market situation.
4. Ability to critically assess the factors influencing the business activity and their impact on the company’s operations.
5. Ability to substantiate the consequences of changes in the business environment.
6. Ability to assess market development trends.
7. Ability to evaluate the potential for the company’s development on both national and international scale.
8. Ability to develop proposals and contribute to setting the company’s goals and developing its strategy.
9. Ability to formulate the strategic, tactical, and operational goals in the field, aligning them with the company’s goals.
10. Ability to critically assess internal environmental factors influencing the company’s operations.
11. Ability to assess the company’s resources and develop proposals for their efficient and rational use.
12. Ability to determine activities in line with the company’s strategy and brand positioning.
13. Ability to evaluate the development opportunities and risks of the field/direction and develop an operational plan.
14. Ability to assess the competitive situation and the company’s competitiveness.
15. Ability to identify the target market and select the appropriate marketing and sales strategy.
16. Ability to assess the business performance indicators of the company.
17. Ability to plan and ensure the economic efficiency of the field.
18. Ability to organise and control the development and formatting of documents in accordance with regulatory requirements.
19. Ability to participate in identifying, planning, and securing the necessary investments.
20. Ability to organise functional processes effectively.
21. Ability to analyse and assess various processes, innovations, and their efficiency.
22. Ability to participate in the implementation and maintenance of the company’s quality system, occupational safety system, and logistics system.
23. Ability to manage employees in line with the company’s personnel management policy.
24. Ability to plan, organise, and coordinate the work of subordinated personnel to ensure accurate, timely, and high-quality performance of the assigned tasks.
25. Ability to cooperate and motivate employees and monitor the performance of duties by the subordinate personnel.
26. Ability to develop, implement, and manage projects within the area of expertise.
27. Ability to apply analytical tools.
28. Ability to analyse data.
29. Ability to develop a financial management and control system in line with the organisation’s business model.
30. Ability to assess the availability of financial resources for the achievement of the organisation’s strategic goals.
31. Ability to develop achievable financial indicators for the implementation of the organisation’s strategy.
32. Ability to compare the organisation’s financial indicators/results with the established criteria.
33. Ability to control the implementation of the organisation’s financial plans.
34. Ability to provide proposals for the improvement of the organisation’s financial plans.
35. Ability to represent the organisation in financial matters in cooperation with external supervisory institutions.
36. Ability to develop the organisation’s credit policy.
37. Ability to develop the organisation’s profit distribution policy.
38. Ability to develop a policy for attracting financial resources and creating a capital structure.
39. Ability to develop control figures and guidelines for the financial budget.
40. Ability to develop the organisation’s pricing policy.
41. Ability to evaluate the implementation of the organisation’s overall budget/budget.
42. Ability to consolidate functional budgets into the overall budget.
43. Ability to evaluate the effectiveness of the budget and whether it corresponds to the organisation’s goal.
44. Ability to evaluate whether the budget corresponds to the market conditions.
45. Ability to develop budget adjustments based on changes in market conditions and the organisation’s actual performance.
46. Ability to ensure the preparation of financial statements in accordance with regulatory enactments and IFRS.
47. Ability to develop a quality control mechanism for financial statements.
48. Ability to ensure the quality control of financial statements.
49. Ability to evaluate the organisation’s financial position.
50. Ability to calculate the organisation’s value, using various assessment methods.
51. Ability to anticipate and assess future changes in the organisation’s value.
52. Ability to organise and manage group and team work effectively.
53. Ability to develop, determine, and coordinate work duties of the structural unit’s employees and ensure the accurate, timely, and high-quality performance of the assigned tasks.
54. Ability to motivate employees and assess their performance and work result.
55. Ability to develop the organisation’s financial investment policy.
56. Ability to prepare proposals for the development of an investment portfolio and its structure.
57. Ability to develop and analyse the portfolio of financial instruments.
58. Ability to provide proposals for the implementation of financial investment projects.
59. Ability to evaluate optimal sources of funding for investment projects and the organisation’s readiness to attract them.
60. Ability to develop a plan for the attraction of financial investments.
61. Ability to identify and prevent the organisation’s financial risks.
62. Ability to develop and manage the organisation’s financial control mechanisms.
63. Ability to evaluate financial transactions in accordance with the requirements for the prevention of money laundering, terrorism and proliferation financing, and restrictions of international and national sanctions.
64. Ability to determine the probability of risk occurrence.
65. Ability to develop preventive risk mitigation measures.
66. Ability to manage financial risks.
67. Ability to evaluate the level of the impact of financial risks.
General competences
1. Ability to perform collaborative teamwork when performing professional work tasks.
2. Ability to comply with field-specific regulatory requirements.
3. Ability to respect employment relationships.
4. Ability to perform work tasks in compliance with occupational safety requirements.
5. Ability to perform work tasks in accordance with regulatory occupational safety, civil defence, fire safety, and environmental protection requirements.
6. Ability to demonstrate personal, social, and civic, interpersonal and intercultural skills that ensure active and efficient participation in professional activity and the development of social dialogue in society.
7. Ability to follow the fundamental principles of professional and general ethics, including generally accepted code of conduct.
8. Ability to conduct applied research and prepare and present publications.
9. Ability to use skills and methods to explain sustainable development issues and draw evidence-based conclusions.
10. Ability to prepare and present publications.
11. Ability to conduct value-added research and interpret and analyse its results.
12. Ability to securely use information technologies for work purposes, including communication in the relevant field.
13. Ability to follow self-organisation principles, assume responsibility to continue learning and self-development in the professional field, and develop personal skills.
14. Ability to communicate, write, read, work, and speak in front of an audience fluently in one or more foreign languages, while understanding and using professional terminology and concepts.
6
6
5
6
Business and administration (041)
Detailed field: (ISCED 2013)Management and administration (0413)
EducationHigher education
Qualification typeVocational
Full or partialFull qualification
Link to the descriptions of the Sector Qualifications Structure levels
Other information
Active qualification
Period for issuing qualification: 2021-2027
Last changes: 17.07.2025
Posted: 15.02.2019