"In the knowledge economy, the power lies with those who have knowledge for development," said the director of the largest Slovenian association of managers Saša Mrak.

The association was established on 18 May in 1989. The inaugural meeting was attended by some 250 participants, who came together to set up professional management, develop corporate governance and ensure progress, said Mrak.

According to her, in the past 30 years, management has undergone a lot of changes, in Slovenia perhaps even more due to the country's intense transition period.

Pointing out that positive business results, companies' growth and development remain the main goal of every manager, the association thus added that managers today also needed to ensure the development of human capital as well as employees' commitment and empowerment.

Today, the association has almost 1,200 members including middle and top management as well as numerous entrepreneurs. The revenues of their companies amount to a third of the Slovenian economy revenue.

According to the association's president Aleksander Zalaznik, the association has always been and will remain an active participant in dialogue with the government and other stakeholders. He pointed out that economy growth depends on the country's politics as well.

Economy Minister Zdravko Počivalšek said that the association was the government's professional and credible partner, equipped to lead the way in boosting the country's economy, describing the association as "the key cogwheel of the engine that runs our economy".

The event was attended by Labour Ministry Ksenija Klampfer and Ljubljana Mayor Zoran Janković as well.

The association handed out an honorary certificate for outstanding merit in strengthening the association and management in Slovenia to Vojko Čok, a long-time president of the association's honorary tribunal.

Čok stressed the importance of managers' ethical stance, saying that was equally important as achieving good business results.

"History teaches us that even the greatest achievements don't guarantee our future but only represent a better starting point, which can be easily squandered," he said.