Strategies for the Company’s Interaction with Stakeholders in Ensuring Sustainable Development: The Global Aspect

Abstract

The article is aimed at analyzing the social responsibility of «PepsiCo», identifying the main groups of stakeholders, their impact on the company’s activities and strategies for interacting with them. In today’s business world, many enterprises face increased pressure from their competitors, shareholders, and the environment. More and more companies are introducing a vector of socially responsible business into the corporate strategy. As a result, companies continuing their operations need to apply different strategies for long-term sustainability, which maximizes the shareholder value. However, corporate social and ethical responsibilities have become higher expectations. Therefore, the research examines the corporate strategy, management and ethical practices of the successful global company PepsiCo Inc. The article emphasizes and proves the growing role of the conception of sustainable development in the activities of large companies, as well as analyzes the connection, mutual influence and fundamental differences in the interpretation of the concepts of sustainable development, corporate social responsibility, and business stability. The PepsiCo’s core stakeholder groups are analyzed; the relevance of the implementation of sustainable development strategies by the company is determined and it is shown how the implementation of sustainable development strategies allows to gain additional advantages in management and quickly respond to changes in both the internal and the external environment. Based on the analyzed data, the company needs a more comprehensive ethical policy to ensure the production of healthier and safer products. The research concludes that PepsiCo should improve its conception of social responsibility, corporate strategy, ethics, and corporate governance policy in order to obtain results that best meet the interests of stakeholders.

Keywords

• stakeholders
• corporate management
• strategy
• ethics
• corporate social responsibility
• pepsico inc