Conflict of interests of stakeholders in corporate management under modern conditions

Abstract

Aim. The work aimed to describe the impact of modern conditions of social development, primarily digitalization trends and the COVID-19 pandemic, on the essence of stakeholder conflicts of interest in corporate management, as well as the consequences arising from this.Tasks. The work was performed to define the term “stakeholder”, classify key stakeholders in the context of the impact of a conflict of interest on corporate management.Methods. The author used general methods of scientific knowledge, identified trends in digitalization and the COVID-19 pandemic under conditions of change in the content of stakeholder conflicts of interest in corporate management.Results. The process of increase in the role of external stakeholders in the reality of contemporary times, as well as the prerequisites for the emergence of a conflict of interests of stakeholders and ways to resolve them in modern conditions, were characterized. The ways to manage the conflict of interests of the corporation stakeholders and the impact of such conflicts on the efficiency of corporate management were analyzed.Conclusions. It has been established that the stronger the coronavirus pandemic impact on conducting business, the more often corporate conflicts take place, the more cases of conflict of interest of corporation stakeholders occur, and, as a result, the choice of ways to resolve them is predetermined. In addition, the active transition to digitalization strengthens the role and influence of external stakeholders, especially regulatory authorities and the public, on corporate management in general and in the context of conflict situations in particular.