Theoretical Analysis of the Role of Dialogue and Stakeholders in Social Media in Managing Crisis

This paper scrutinizes theoretically the issue of how dialogue and stakeholder analysis contribute to business organizations and their communication on social media in times of crisis. It provides a theoretical overview of selected foreign and Croatian literature, thus making a contribution to the understanding of their role in crisis management. In view of the emergence and ever more increasing importance of social media, the existing theories of stakeholder analysis have turned out to be incomplete. Therefore, it is necessary to explore the advantages and disadvantages of the older methods and suggest new, more adequate, ones. The aim of this theoretical paper is to describe the impact and the advantages of dialogue with stakeholders on social media during a crisis. It focuses on the importance of applying the practice of agreement and conflict resolution through dialogue between the organization and its stakeholders. The benefits of social media in building and maintaining trust and stakeholder relations during a crisis are also highlighted, as they can help reduce potential harm to an organization and accelerate its recovery.