The Crucial Element of Building Safe Relations between the Enterprise and its Stakeholders: Communication through Traditional Methods and Social Media

Purpose: The aim of the article is to present the role of communication in the process of building safe and ethical relationships using various traditional and more modern methods, i.e., the use of social media. Design/Methodology/Approach: Both quantitative and qualitative research methods were used. The data for analysis were obtained using the diagnostic survey method using the questionnaire technique. More specifically, the CATI method was used to obtain the data, which made it possible to find out the opinions of the respondents via a telephone conversation. The data was obtained in June 2019. In addition to the empirical method, the study also used theoretical research methods, such as the analytical-synthetic method, which was used to perform the critical analysis of the literature on the subject. Moreover, abstraction was used to select the necessary elements for the analysis. The data obtained from the survey questionnaire was compared with the recommendations in the field of communication with stakeholders. Generalization and inference were used to formulate conclusions. Findings: The considerations contained in the article are the part of a broader research on the role of communication - traditional and more advanced methods in building relations between an enterprise and its stakeholders. The changes taking place in the market have had changed the role of social media in the communication process, but still traditional methods are important in the functioning of enterprises. Practical Implications: Enterprises try to use many types of methods to create safe relationships with their stakeholders. The most important element is the diversification of communication channels to reach each stakeholder group. Originality/value: There are many articles about communication between enterprise and its shareholders but there is a lack of a publication fully devoted to the issue of building safe relations between them, especially pointing out the use of social media.