Do Stakeholder Relationship Management and Employee as a Stakeholder Behavior Affect Firm Performance? Research in Telecom Companies

Abstract

The aim of the company in today's business world and in any sector is to reach the goals of increasing firm performance. Businesses are expected to adapt to constantly evolving and changing technologies and to offer their products or services to consumers effectively by using communication channels. These changes reveal that businesses should manage stakeholder relations carefully and smoothly. Basically, the attitudes and behaviors of employees affect the performance of businesses, which is reflected in consumer behavior. A single decision of the management structure in an enterprise can change the lives of stakeholders, either positively or negatively. The basis of the rapid transformation of the institutions is the impact of both industry 4.0 and subsequent industry 5.0 created by changes in technology, and the continuity of the wishes and needs of stakeholders. Stakeholder management theory is important for the sustainability and performance criteria of organizations. For this reason, the issue that organizations should consider firstly can respond to the demands and needs of stakeholders. When stakeholder relationship management and stakeholder behaviors areanalyzed, it can be explained that they have important effects on organizations. This paper was conducted on 424 white-collar officers and senior unit managers in various departments in the telecommunications sector concerning the subject of the effects of behaviors on relationship management. As a result of the analysis of the data obtained, it can be explained that all dimensions other than the coordination dimension of the stakeholder relationship management positively affect firm performance. At the same time, all aspects of stakeholder behavior have a positive effect on firm performance, except for employee engagement.