Description
Title: The Role of Stakeholders in the Development of Corporate Strategies for the Sustainable Growth of Russian Industrial Enterprises
Abstract: This study’s goal is to identify stakeholders’ interests and how they may affect the strategic directives for the long-term growth of industrial enterprises in the Russian fuel and energy complex. One of the elements of corporate strategy implementation for the sustainable development of industrial enterprises is environmental safety. The impact of regulatory institutions on this component’s significance is less important than the changes in how market participants—consumers, partners, investors, and rival businesses—behave. Based on the results of ESG-ratings, this study defines the stakeholder makeup for Russian industrial enterprises that are leaders in the field of sustainable development. Additionally, it lists industrial companies’ top priorities and their sustainable development objectives. The article identifies the primary objectives of sustainable development for stakeholders of Russian industrial enterprises in the fuel and energy complex based on an analysis of open reports on the sustainable development of Russian industrial enterprises. The majority of stakeholder groups interact with companies through their non-financial reporting, according to an analysis of the mechanism for organizing stakeholder interaction. According to the study’s findings, adopting a proactive attitude will help businesses identify the issues related to sustainable development that have the greatest long-term potential and, as a result, develop a system of preventive strategic action.
Keywords: sustainable development; greening; stakeholders; reporting; relationships; industrial enterprises
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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