THE INFLUENCE OF STAKEHOLDER-COMPANY RELATIONSHIP ON COMPETITIVENESS OF COMPANY

Abstract

The authors of the article analyze stakeholder-company relationship as factor enhancing competitiveness of companies. The building stakeholder-company relationship is described as a strategic business investment, opens new possibilities for companies and contributes to the attainment of competitiveness of companies. By emphasize the importance of stakeholder-company relationship the article treats of socially responsible policies, which implementation determines the building long-term stakeholders’ trust as a basis for strong and enduring stakeholder-company relationship. The paper deals with the development of strategic policies of socially responsible Lithuanian companies. Companies in Lithuania in their relations with the stakeholders focus on realizing policies of transparent business, anti-discrimination and anti-corruption. Researched the impact of stakeholder-company relationship on enhancing competitiveness of company, the authors found that an active development of socially responsible policies positively influences business relationships with stakeholder groups and increases competitiveness of company in the global market.

DOI: http://dx.doi.org/10.5755/j01.em.17.3.2111