WHO AND WHAT ARE STAKEHOLDERS
Stakeholder groups take many forms and can include consumers, employees, politicians, media, community groups, local authorities, church groups, universities, even your suppliers and competitors as well as the banks that finance your business. They can be operational such the UN’s World Health Organisation or single issue advocates such as the National Obesity Forum.
They can have a multi-million pound organisation with the global reach of Greenpeace or simply someone with a laptop and an axe to grind. Modern communications mean that their activities can have a negative impact on your reputation if bad relationships go unchecked.
Getting your positive message out to the right people at an early stage can build strong relationships to aid your business development and insulate you from attack.
WHY STAKEHOLDER ENGAGEMENT
IS IMPORTANT
Good stakeholder engagement is becoming increasingly important for companies and organisations of all shapes and sizes. It is often said that stakeholder groups grant organisations their ‘licence to operate’. Should one or more of these groups withdraw that licence then organisations can face damage to their reputation and even crisis.
The advent of the internet and the rising demands of consumer culture mean that individuals expect a two way dialogue with even the biggest brands. This has seen many of our best known companies move away from 20th Century style mass communication, towards new and innovative ways of building value amongst consumers and society has a whole. The same process is happening in Government.
Meaningful relations with your stakeholders can drive the value of your brand. Open and creative dialogue alongside innovative partnerships with credible organisations can help your company position itself to make the most out of what the future may bring.