Strategic business areas as a mechanism for coordinating stakeholder interests when managing a company’s project portfolio

Economy and management of the enterprise

In modern conditions of high uncertainty of the external environment, companies face the task of having to develop different behavioral strategies for different market segments. The efficiency of the company’s performance in these conditions is largely determined by its effective interaction with stakeholders. In this connection, the tools for identifying the stakeholders play a major role in implementing projects. The organization of the company must be taken into account while developing a strategy and selecting ways of interacting with the stakeholders. Modern companies are becoming more project-oriented, so the problem of managing a project portfolio gains importance; a portfolio should ensure that the goals of the company are achieved throughout the implementation of the strategy in the selected strategic business areas. This paper proposes an approach to coordinating stakeholder interests while managing the company’s portfolio. It is demonstrated that in the modern conditions, the successful implementation of projects is largely determined by the effective interaction with the stakeholders of the company. Using strategic business areas is offered as an economic tool for identifying and classifying stakeholders. The concept of strategic business areas (SBAs) has been clarified in the paper. The projects adopted by the companies while implemented the selected strategies can serve as a tool for coordinating the interests of stakeholders in each of the SBAs. Including social investment projects into the portfolio as substantiated by the authors as one of the tools for coordinating stakeholders’ interests within the SBA.