The role of stakeholder relationship management in the strategic management of the company

Abstract

The article aims to explore the role of stakeholder relationship management (SRM) within the strategic management framework of modern companies. It highlights the theoretical foundations and practical significance of SRM for corporate competitiveness, adaptability, and sustainability in dynamic global markets.

Methods. The research utilises theoretical analysis and case studies. It employs the stakeholder salience model and materiality matrix to examine how stakeholder considerations integrate into corporate strategies. Practical examples from multinational companies illustrate effective SRM implementation across industries.

Results. Findings demonstrate that SRM significantly enhances organisational resilience, innovation, and reputation. Structured stakeholder engagement allows firms to proactively manage risks, adapt to market shifts, and secure competitive advantages. Key strategic benefits include fostering trust-based relationships, strengthening market adaptability, and building substantial social capital. The article also identifies challenges such as digital complexity, fragmented ESG standards, and hybrid stakeholder identities, necessitating adaptive, ethically sound approaches.

Conclusions. SRM should be viewed as a core strategic capability rather than merely a compliance tool. Comprehensive SRM integration, underpinned by clear ethical principles and consistent terminology, helps organisations navigate complexities effectively. The research provides practical insights for managers, emphasizing inclusive stakeholder strategies and commitment to shared value creation. Adopting adaptive and ethically grounded approaches enables companies to build resilient and socially responsible operations, contributing to sustainable development in competitive global environments.