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The role of stakeholders in the process of building a competi-tive advantage with the example of development companies

Justyna Grzes-Buklaho ()
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Justyna Grzes-Buklaho: Bialystok University of Technology

No 152/2017, Working Papers from Institute of Economic Research

Abstract: Research background: Contemporary companies are faced with opportunities as well as dangers resulting from relationships with their environment. It is therefore important to define stakeholders and manage relations with them by implement-ing organizational principles and practices that take into account stakeholders' concerns and objectives, but are also consistent with a company's strategy and its economic goals (Banks, Vera, Pathak, Ballard, 2016, pp. 18-27). Purpose of the article: The aim of this article is a diagnosis of a sort of the theory of stakeholders present in the relevant literature. In addition, stakeholder identifi-cation was presented along with their role in the process of building a competitive advantage of a development company. Methodology/methods: An analysis of secondary sources was verified by empiri-cal studies. An analysis of the role of stakeholders in the functioning of an enter-prise was made using the so-called 'brainstorming method'. The study was con-ducted with the students of faculties at the Faculty of Management of the Bi-alystok Technical University in December 2012 and in the years 2014-2016. Findings & Value added: In the first part of the article, the key assumptions of the stakeholder theory and their impact on the competitiveness of entities are discussed, and the term "a development company" is defined. The second part presents conclusions from empirical research. These made it possible to formulate a list of main stakeholders who contribute to building a competitive advantage for developers. These entities are included in several groups: customers, suppliers, strategic partners, regulators and current and potential competitors.

Keywords: development company; housing market; stakeholders; stakeholder theory; competitiveness (search for similar items in EconPapers)
JEL-codes: L74 M20 R31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dcm
Date: 2017-05, Revised 2017-05
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