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Stakeholders' engagement in the business strategy as a key driver to increase companies' performance: Evidence from managerial and stakeholders' practices

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  • Ivo Hristov
  • Andrea Appolloni

Abstract

Stakeholders' engagement at a strategic level represents one of the key dimensions that affects companies' performance, directly impacting on the decision‐making process. Despite many theoretical studies focused on the relevant role of stakeholders' engagement in the value creation process of organizations, many issues are not adequately addressed in managerial practices. Based on a multiple case study with 61 Italian companies from different sectors, (1) we explore the main strategic dimensions and connected value drivers that affect stakeholders' perception, and (2) we illustrate a suitable way to strategically integrate stakeholders' perception drivers in the performance management system (PMS) implementation. According to the contribution of the managers and selected stakeholders of the companies involved in the study, we propose a framework to support a more comprehensive development of the key dimensions that influence stakeholders' engagement (sustainable development, organizational drivers, cultural context, and digital transformation) at a strategic level.

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  • Ivo Hristov & Andrea Appolloni, 2022. "Stakeholders' engagement in the business strategy as a key driver to increase companies' performance: Evidence from managerial and stakeholders' practices," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1488-1503, May.
    • Handle: RePEc:bla:bstrat:v:31:y:2022:i:4:p:1488-1503
    DOI: 10.1002/bse.2965
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    2. Shabir Hussain Malik & Weizhong Fu & Samma Faiz Rasool & Gowhar Ahmad Wani & Shah Zaman & Najaf Ali Wani, 2023. "Investigating the Impact of Communication Factors and Stakeholders Engagement on Renewable Energy Projects in Pakistan," Sustainability, MDPI, vol. 15(14), pages 1-14, July.
    3. Wei Cao & Martina Linnenluecke & Jinfang Tian & Rui Xue & Huan Yang, 2023. "How does investor attention affect energy firms' managerial opportunistic behavior? New evidence from China," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 5025-5043, November.
    4. Boqiang Lin & Qianxiang Zhang, 2023. "Corporate environmental responsibility in polluting firms: Does digital transformation matter?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2234-2246, September.
    5. Qiang Zhang & Xiumei Zhu & Min-Jae Lee, 2024. "Exploring Institutional Pressures, Green Innovation, and Sustainable Performance: Examining the Mediated Moderation Role of Entrepreneurial Orientation," Sustainability, MDPI, vol. 16(5), pages 1-20, March.
    6. Md. Shajul Islam & Mohammad Rabiul Basher Rubel & Md. Mahedi Hasan, 2023. "Environmental and Social Performance of the Banking Industry in Bangladesh: Effect of Stakeholders’ Pressure and Green Practice Adoption," Sustainability, MDPI, vol. 15(11), pages 1-24, May.
    7. D'Adamo, Idiano & Mammetti, Marco & Ottaviani, Dario & Ozturk, Ilhan, 2023. "Photovoltaic systems and sustainable communities: New social models for ecological transition. The impact of incentive policies in profitability analyses," Renewable Energy, Elsevier, vol. 202(C), pages 1291-1304.

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