CRISES RELATED TO THE PRODUCTION FACTORS “LABOR” AND “ENTREPRENEURIAL SKILLS”

The authors of this scientific article explore the role of production factors, mainly in the situations of economic-related crises, examine the role of the production factors mainly in the conditions of economic crises and of economic related crises, the features of various kinds of crises, analyse crises at micro and macro level, compare major economists opinions on crises management, and give recommendations how knowledge ability and competence in general may be increased. The authors emphasize the need to define the production factors associated with the role of the human factor in various crisis situations. The authors identify the problem, which essentially interferes with the development of production, not only at the micro level, but also has a negative impact on the overall economic development. The authors of the article have been inspired to search the solutions to this problem due to the global financial crisis that emerged in the U.S. and further triggered the economic crises in other countries, including Latvia. The effects of this crisis in many countries have not been overcome yet.