The stakeholder-value approach as a tool for transforming the management of socio-economic development in regions

Abstract

The main purpose of the research is to study and justify the application of the stakeholder-value approach in managing the socio-economic development of regions. The following research methods to achieve the purpose have been used, namely analysis and synthesis, comparison, a systematic approach, generalization and classification, and a graphical method. The results of the study are theoretical aspects of stakeholder-oriented and value-oriented approaches to management have been studied. The author's vision of stakeholder-oriented and value-oriented approaches to managing the socio-economic development of regions has been proposed. A comparative analysis of the limitations of stakeholder-oriented and value-oriented approaches to regional development management has been conducted. The comparative analysis of the limitations of stakeholder-oriented and value-oriented approaches to regional development management has been conducted. The conceptual model combining stakeholder-oriented and value-oriented approaches to managing the socio-economic development of regions has been developed. Within the developed model, new tools for coordinating the interests of key stakeholders through a system of values have been identified, in particular: mechanism of value coordination, value mediation in management, value platforms for interaction, mechanism of value mediation, and institutionally enshrined collective responsibility. The stakeholder-value approach to managing the socio-economic development of a region based on a synergistic combination of stakeholder engagement and cooperation with a focus on creating long-term integrated value that encompasses economic, social, ethical, cultural, and innovative dimensions has been proposed. The results of the study can be used to form and implement regional development projects by using tools to align the interests of key stakeholders through the system of values, namely: a mechanism for value coordination, value mediation in management, value platforms for interaction, a mechanism for value mediation, and institutionally enshrined collective responsibility. The conclusion of the research is that the conceptual model combining stakeholder-oriented and value-oriented approaches to managing the socio-economic development of regions has been developed.