Possibilities of using the stakeholder approach in the implementation of reactive control

Abstract

At the modern stage development, the formation of the most effective and constructive communication between the management of the organization and key stakeholders makes it possible not only to adapt the strategic goals of the organization to the requirements of the stakeholders, but also to respond as quickly as possible to both external threats and internal changes taking place in the organization itself in the course of its development, with high efficiency to minimize risks, as well as increase the level of business reputation of the organization and the level of public confidence in its activities. Effective management of an organization is achieved by the most coordinated actions of all its representatives, and also an important element in this system is the creation of a common information base, which allows to qualitatively coordinate the interaction of the organization's management and the main groups of stakeholders in order to assess the market position and justify all management decisions aimed at maximizing profits and minimization of risks and other financial losses. Competent interaction with stakeholders, as well as meeting their requirements, can ensure sustainable business development in the future.