In modern dynamic business environment, the communication policy of an enterprise acquires the status of a strategic resource that ensures its competitiveness and sustainable development. Of particular relevance is the development of effective models of enterprise communication with different groups of stakeholders, which can balance the interests of all stakeholders. The purpose of the study was to develop and substantiate the theoretical and methodological foundations and practical recommendations for the formation of an effective model of enterprise communication policy with stakeholders. To achieve this goal, various research methods were used: analysis, synthesis, comparison, formalisation, structural and logical generalisation. The article substantiated the need for an integrated approach to communication management, based on the strategic goals of the enterprise, the needs and expectations of stakeholders, as well as taking into account the dynamic changes in the external environment. The study classified stakeholders according to the level of their influence on the enterprise’s activities and the nature of interaction, analysed interests of internal and external stakeholders. The key factors influencing the effectiveness of communications between the enterprise and its stakeholders were identified. The article offered a structural model of the company’s communication policy, which includes the following stages: identification of communication interaction goals, analysis of the current state of communication processes, identification of problem aspects, development of an effective communication apparatus, selection of communication channels and communication methods for each group of stakeholders, direct communication and monitoring the effectiveness of the company's communication policy with stakeholders. The proposed model of communication policy allows a company to adopt a systematic approach to managing interaction with stakeholders, helping to strengthen its competitive position, increase the level of trust and ensure long-term sustainable development. Certain results of the study can be used by managers, specialists in communication and PR departments of companies in various industries to improve the strategy of interaction with stakeholders, as well as by consulting companies when developing communication management programms for corporate clients
Formation of a model of communication policy of an enterprise with stakeholders
Abstract
Keywords
balancing interests; corporate social responsibility; enterprise strategy; image; communication; digital transformation
[1] Ardiana, P.A. (2019). Stakeholder engagement in sustainability reporting: Evidence of reputation risk management in large Australian companies. Australian Accounting Review (AAR), 29(4), 726-747. doi: 10.1111/auar.12293.
[2] Crane, A., Matten, D., & Spence, L.J. (2019). Corporate social responsibility: In global context. In Corporate social responsibility: Readings and cases in global context (pp. 3-20). London: Routledge.
[3] de Villiers, C., & Hsiao, P.C.K. (2017). Integrated reporting. In C. de Villiers, & W. Maroun (Eds.) Sustainability accounting and integrated reporting. Abingdon: Routledge.
[4] Derevianko, O.H. (2019). Tools for forming the reputation of an enterprise for different stakeholder audiences: PR, IR and GR. Scientific Works of the National University of Food Technologies, 25(3), 68-80. doi: 10.24263/2225-2924-2019-25-3-10.
[5] Directive of the European Parliament and of the Council European Union No. 2014/95/EU “On amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups”. (2014, October). Retrieved from https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32014L0095.
[6] Directive of the European Parliament and of the Council No. 2022/2464/EU “On corporate sustainability reporting and amending Directive 2013/34/EU”. (2022, December). Retrieved from https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32022L2464.
[7] Donaldson, T., & Preston, L. (1995). The stakeholder theory of the corporation: Concepts, evidence and implications. The Academy of Management Review, 20(1), 65-91. doi: 10.2307/258887.
[8] Freeman, R.E. (2010). Strategic management: A stakeholder approach. Cambridge: Cambridge University Press.
[9] Global Reporting Initiative (GRI). (2021). Retrieved from https://www.globalreporting.org/standards/.
[10] Golestaneh, H., Guerreiro, M., Pinto, P., & Mosaddad, S.H. (2022). On the role of internal stakeholders in place branding. Journal of Place Management and Development, 15(2), 202-228. doi: 10.1108/JPMD-05-2020-0041.
[11] Hwabamungu, B., & Shepherd, P. (2024). The influence of stakeholder involvement in the adoption of digital technologies in the UK construction industry. Informatics, 11(4), article number 97. doi: 10.3390/informatics11040097.
[12] Iarmoliuk, O., & Tsehelnyk, N. (2023). Stakeholder approach in the formation of conceptual principles of management accounting in banks. Economy and Society, 53, 1-12. doi: 10.32782/2524-0072/2023-53-56.
[13] International Labour Organization (ILO). (2022). Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy. Retrieved from https://www.ilo.org/sites/default/files/wcmsp5/groups/public/%40ed_emp/%40emp_ent/%40multi/documents/publication/wcms_094386.pdf.
[14] Johansson, P. (2008). Implementing stakeholder management: A case study at a microenterprise. Measuring Business Excellence, 12(3), 33-43. doi: 10.1108/13683040810900386.
[15] Kadakure, A., & Twum-Darko, M. (2024). Entrepreneurial social cognition and new venture creation: Sociological perspective. Economics, Entrepreneurship, Management, 11(1), 48-56. doi: 10.56318/eem2024.01.048.
[16] Kalinichenko, L.L., Smachylo, V.V., Popovych, D.V., & Avdiievska, O.V. (2020). The procedure for forming a communicative policy of an enterprise with stakeholders. Economics, Management and Administratio, 2, 7-14. doi: 10.26642/jen-2020-2(92)-7-14.
[17] Krasnokutska, N.S., & Hosn, S.K. (2019). Assessment of overall satisfaction with stakeholder relations. European Cooperation, 3(43), 80-95. doi: 10.32070/ec.v3i43.55.
[18] Kušnírová, D., Bubelíny, O., & Ďurišová, M. (2024). Value management: Enterprises’ interest in stakeholders and its impact on creating sustainable relationships with suppliers and buyers. Sustainability, 16(16), article number 7148. doi: 10.3390/su16167148.
[19] Kytsak, T.H. (2020). Dialogue with stakeholders as a tool for ensuring the sustainability of a business organization. In Social and labor relations: Theory and practice: Collection of scientific (pp. 21-24). Kyiv: Kyiv National Economic University named after Vadym Hetman.
[20] Lahuta, Ya.M. (2017). Stakeholder approach in corporate social responsibility of the company. Scientific Bulletin of the International Humanitarian University, 25(1), 130-133.
[21] Liashuk, K.P. (2021). Features of formation of the mechanism of management of social interaction of trading enterprises with stakeholders. Scientific Journal. Bulletin of the Khmelnytsky National University. Economic Sciences, 5(1), 287-293. doi: 10.31891/2307-5740-2021-298-5(1)-50.
[22] Limani, E., Hajdari, L., Limani, B., & Krasniqi, J. (2024). Enhancing stakeholder engagement: Using the communication perspective to identify and enhance stakeholder communication in place management. Cogent Business & Management, 11(1), article number 2383322. doi: 10.1080/23311975.2024.2383322.
[23] Michelon, G., & Parbonetti, A. (2020). Stakeholder engagement in corporate social responsibility reporting: Evidence from mining and metals industry. Journal of Business Ethics, 161, 495-511. doi: 10.1007/s10551-018-3972-5.
[24] Mitchell, R.K., Agle, B.R., & Wood, D.J. (1997). Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. The Academy of Management Review, 22(4), 853-886. doi: 10.2307/259247.
[25] Myroshnychenko, Yu.O., & Bondar, A.V. (2018). A model of stakeholder interaction in the real sector of the Ukrainian economy in the context of CSR. Eastern Europe: Economics, Business and Management, 5(16), 71-75.
[26] Smachylo, V.V. Khalina, V.Iu., & Vasylieva, T.S. (2018). Social responsibility of business through the prism of communications with stakeholders. Effective Economy, 9.
[27] Troise, C., & Camilleri, M.A. (2021). The use of digital media for marketing, CSR communication and stakeholder engagement. In Strategic corporate communication in the digital age (pp. 161-174). Bingley: Emerald. doi: 10.1108/978-1-80071-264-520211010.
[28] World Business Council for Sustainable Development (WBCSD). (2021). Retrieved from https://www.wbcsd.org/.