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

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

A systematic and major review of proactive environmental strategies in hospitality and tourism: Looking back for moving forward

“…It is recommended that hotel managers build good relations with stakeholders (Hristov & Appolloni, 2021), including employees, customers, and suppliers, to develop loyalties and legitimacy based on environmental protection that is important for cost reduction and achieving competitive differentiation advantage (Pereira‐Moliner et al, 2015). Sanchez‐Ollero et al (2016) advised hotels to enhance their business performance due to their impact on proactive investment in environmental issues.…”

“…This contact could be through informal meetings, participating in hobbies, and exchanging favors. Hotel managers could obtain support for PESs in heavily polluted areas by indicating the green needs of other stakeholders (e.g., communities, environmental-related and non-governmental organizations) and participating with them to plan and carry out PESs(Jiang et al, 2021).It is recommended that hotel managers build good relations with stakeholders(Hristov & Appolloni, 2021), including employees, customers, and suppliers, to develop loyalties and legitimacy based on environmental protection that is important for cost reduction and achieving competitive differentiation advantage(Pereira-Moliner et al, 2015) Sanchez-Ollero et al (2016). advised hotels to enhance their business performance due to their impact on proactive investment in environmental issues.Announcing green initiatives on websites of hotel enterprises is critical for attracting environmentally friendly candidates to their enterprises.…”

The adoption of the key performance indicators to integrate sustainability in the business strategy: A novel five‐dimensional framework

“…This helps contributing to the existing literature by clearly delineating and improving what it is known about the main SD drivers considered relevant at a strategic level by the same managers, which need to be studied mostly from a management accounting point of view. The results can be considered an additional step of the work made by the research stream (Addison et al, 2020; Hristov & Appolloni, 2021; Hristov et al, 2021; Mio et al, 2020; van Zanten & van Tulder, 2021) who focused in the recent years, from the introduction of the SDGs in 2015, on the sustainability issues in the business strategy. However, management scholars are urgently called to use these results in order to analyze the key items linked to each of the sustainable drivers discussed in this paper, which need to be transformed in specific strategic goals and to find the way to translate them into economic performance useful in stimulating the sustainability integration in the organizations.…”

The analytic hierarchy process as an innovative way to enable stakeholder engagement for sustainability reporting in the food industry

“…The experts expressed that they found it difficult to assign priority values at the category level, as they were well acquainted with the AHP and local-global priority mix methodologies, and aware that the weight they assigned at this stage would amplify or reduce the weight they gave to individual criteria. According to the literature, there is a need to strengthen the social dimension of sustainability (Hristov & Appolloni, 2022;Sarker et al, 2021;Walker et al, 2021). The expert judgments expressed support for this goal, particularly in the prioritisation of stakeholder engagement.…”