Improving the Organization in the Context of Building Sustainable Value for Stakeholders: A Polish Company Experience

Abstract

Purpose: The aim of the research was to identify critical variables for improving the organization in the context of building lasting value for stakeholders, to define the role of stakeholders in the process of creating and implementing the strategy of systematically managed organizations. Design/Methodology/Approach: The study covered 180 organizations with at least three implemented management systems: QMS (based on the requirements of ISO 9001); EMS (based on the requirements of ISO 14001) and OHSAS (based on the requirements of PN-N 18001 or OHSAS 18001). The following methods were used in our study: document research method, diagnostic survey method, survey method, observation method, CAWI (Computer Assisted Web Interviews). Findings: As a result, it was determined that the organization’s efforts should focus on the implementation of sustainable development assumptions and require a comprehensive and multidimensional approach to management. Organizations striving to ensure sustainability should undertake extensive interaction and cooperation with external stakeholders. Sustainable Value Creation Framework can be used as a diagnostic tool to assess business progress towards achieving a sustainable strategy. The results also showed that most organizations considered activities aimed at constant market analysis to be a key factor in the success of their activities. The policy of the integrated management system focuses on maintaining partnership relations with suppliers, recipients, and customers. Practical Implications: The dominant management paradigm for contemporary organizations is the process of creating value for stakeholders. The organization should focus on identifying individual groups of stakeholders and then on understanding their needs and expectations. Originality/Value: The issue of building sustainable value for stakeholders is still a current and important trend in research, as it contributes to the improvement of the organization’s strategy.