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Value Management: Enterprises’ Interest in Stakeholders and Its Impact on Creating Sustainable Relationships with Suppliers and Buyers

Author

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  • Dana Kušnírová

    (Department of Macro and Microeconomics, Faculty of Management Science and Informatics, University of Zilina, 010 26 Zilina, Slovakia)

  • Oliver Bubelíny

    (Department of Management Theories, Faculty of Management Science and Informatics, University of Zilina, 010 26 Zilina, Slovakia)

  • Mária Ďurišová

    (Department of Macro and Microeconomics, Faculty of Management Science and Informatics, University of Zilina, 010 26 Zilina, Slovakia)

Abstract

The paper aims to identify the connection between the enterprise’s interest in the stakeholders and their mutual relationship. It examines whether stakeholders’ opinions, priorities, needs, and goals influence the enterprise’s decisions in managing sustainable relationships with buyers and suppliers. Additionally, it explores whether the knowledge regarding the stakeholders (such as their needs, opinions, etc.) affects the relationship between the enterprise and the stakeholders. Establishing a good, mutual, long-lasting, and sustainable relationship with stakeholders is an integral part of the value creation process and value management. The study first determines whether enterprises implement value management and then assesses the impact of buyers’ and suppliers’ opinions, priorities, and goals on the decision-making process in building these relationships. It also evaluates the strength of these relationships, where a stronger relationship indicates greater sustainability. The focus is on relationships with suppliers and buyers, with responses collected from 385 Slovak manufacturing enterprises. The analysis of how knowledge of stakeholders’ needs, priorities, and goals impacts relationships with suppliers and buyers was conducted separately using the Shapiro–Wilk test, Spearman’s correlation coefficient, and ANOVA.

Suggested Citation

  • Dana Kušnírová & Oliver Bubelíny & Mária Ďurišová, 2024. "Value Management: Enterprises’ Interest in Stakeholders and Its Impact on Creating Sustainable Relationships with Suppliers and Buyers," Sustainability, MDPI, vol. 16(16), pages 1-17, August.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:16:p:7148-:d:1460080
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    References listed on IDEAS

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    1. Henning Breuer & Florian Lüdeke-Freund, 2019. "Values-Based Stakeholder Management: Concepts and Methods," CSR, Sustainability, Ethics & Governance, in: Thomas Wunder (ed.), Rethinking Strategic Management, chapter 0, pages 217-239, Springer.
    2. Ronald L. Wasserstein & Nicole A. Lazar, 2016. "The ASA's Statement on p -Values: Context, Process, and Purpose," The American Statistician, Taylor & Francis Journals, vol. 70(2), pages 129-133, May.
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    More about this item

    Keywords

    value management; relationship; B2B; suppliers; buyers; stakeholders;
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