Stakeholder Loyalty Assessment as a Tool to Integrate Risks into Organisations’ Strategies

Abstract:

This article emphasises the need to develop techniques and disseminate practices for assessing the loyalty of a company’s stakeholders. Loyalty assessments can be instrumental in integrating risks into organisations’ strategies. The authors underline the importance of shareholders’ loyalty and readiness to take business risks and stress the need to take measures for preventing disloyalty-caused damages, to fund these measures, and to organise the monitoring of their results. The article describes the possibilities of system dynamics models and big data technology in establishing causal relations between the level of stakeholder loyalty and a company’s performance. Shareholders have different and sometimes conflicting needs and expectations. They build their relations with organisations at different paces and at different participation levels. It is important to both identify the stakeholders and create conditions for efficient long-term cooperation with them, i.e. to establish a stakeholder relationship management (SRM) system. ISO 9001:2015, ISO 14001:2015, OMG Essence, SEBoK, and other standards list the most common groups of stakeholders.