Enhancing Stakeholder Value: Managerial Activities in the Value Creation Process for Suppliers and Buyer—Evidence from Slovak Enterprises

Abstract

The paper aims to identify, characterize, and determine the method of managerial activities in the value creation process for buyers and suppliers with the subsequent determination of their significance. The study employs a hybrid methodology combining theoretical and empirical approaches. The theoretical framework was developed through a systematic review of contemporary literature, leading to the creation of a procedural model for effective value creation in B2B environments. This model outlines key managerial activities, including the diversification of suppliers and buyers, securing communication channels, value identification, determination of value creation variants, and feedback evaluation. To empirically validate this framework, interviews were conducted with managers from twenty Slovak manufacturing enterprises. These interviews aimed to assess the alignment between the theoretical model and actual managerial practices and to identify any discrepancies or areas for improvement. The findings indicate that while managers engage in several key activities intuitively, there are notable variations in the application of specific practices. The study contributes to the literature by bridging theoretical concepts with practical implementation. It offers actionable recommendations for enhancing value creation processes, highlighting the importance of aligning managerial practices with theoretical best practices to achieve better stakeholder satisfaction and business success.