Methods of stakeholder prioritisation in the context of stakeholder management

Aleksey Mints, Evelina Kamyshnykova
2019 Proceedings of 6th International Scientific Conference Contemporary Issues in Business, Management and Economics Engineering '2019   unpublished
Purpose – the purpose of this paper is to propose a method for integral assessing the priority level of specific stakeholders in the model of stakeholder management. Research methodology – the paper develops ideas of matrix approach to assessing the priority level of individual stakeholders and proposes a method for obtaining more accurate integral assessment based on analysis of a set of indicators, taking into account factors of subjective estimates. Findings – the integral assessment of the
more » ... assessment of the priority level of specific external stakeholders improves estimates' accuracy and provides a practical framework for the development of successful corporate social responsibility strategies. It has been substantiated by the application of the proposed method for prioritising suppliers of a large Ukranian metallurgical company. Research limitations – there are requirements for a linear or quasi-linear nature of the relationship between the numerical value of the stakeholder's priority index and its interpretation on a "better to worse" scale within the framework of the proposed method of evaluation. Practical implications – integral assessments of stakeholder priority obtained from the results of the proposed method can be used as a tool for reasonable comparison, selection of strategic stakeholders and building programs for interaction with them. Originality/Value – unlike most existing methods of stakeholder analysis representing a generic list of priority stakeholder groups the method proposed in the paper provides an integral assessment of priority level of specific stakeholders from the category of the immediate environment through a system of indicators, taking into account factors of subjectivity
doi:10.3846/cibmee.2019.046 fatcat:2z2bo6c57vbmfcwxyngld522em