World Library  
Flag as Inappropriate
Email this Article

Stakeholder engagement

Article Id: WHEBN0023449104
Reproduction Date:

Title: Stakeholder engagement  
Author: World Heritage Encyclopedia
Language: English
Subject: Eco-Management and Audit Scheme, Social responsibility, Executive Counsel Limited, Open discourse, Rail Safety Act
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Stakeholder engagement

Stakeholder engagement is the process by which an organisation involves people who may be affected by the decisions it makes or can influence the implementation of its decisions. They may support or oppose the decisions, be influential in the organization or within the community in which it operates, hold relevant official positions or be affected in the long term.

Stakeholder engagement is a key part of corporate social responsibility (CSR) and achieving the triple bottom line. Companies engage their stakeholders in dialogue to find out what social and environmental issues matter most to them about their performance in order to improve decision-making and accountability. Engaging stakeholders is a requirement of the Global Reporting Initiative, a network-based organisation with sustainability reporting framework that is widely used around the world. The International Organisation for Standardization (ISO) requires stakeholder engagement for all their new standards.

Involving stakeholders in decision-making processes is not confined corporate social responsibility (CSR) processes. It's a tool used by mature[1] private and public sector organisations, especially when they want to develop understanding and agree to solutions on complex issues or issues of concern.

An underlying principle of stakeholder engagement is that stakeholders have the chance to influence the decision-making process. This differentiates stakeholder engagement from communications processes that seek to issue a message or influence groups to agree with a decision that is already made.[2] (reference no longer available)The Environment Council developed the Principles of Authentic Engagement. These are intended to provide a framework for genuine stakeholder engagement.

The practitioners in stakeholder engagement are often financial institutions.[3] (reference redirects to an ecig page)

Components

Partnerships, in the context of corporate social responsibility interactions, are people and organizations from some combination of public, business and civil constituencies who engage in common societal aims through combining their resources and competencies, sharing both risks and benefits.[3] (reference redirects to an ecig page)

Agreeing on the rules of engagement is integral to the process. It is important for everyone to understand each party's role.[3] (reference redirects to an ecig page)

Buy-in is essential for success in stakeholder engagement. Every party must have a stake in the process and have participating members have decision-making power. Every party must be committed to the process by ensuring action based on the decisions made through the engagement.[4] (reference no longer available)

No decisions should be already made before commencing stakeholder engagement on the issue. It is integral that the dialogue has legitimacy in influencing the decision.[2] (reference no longer available)

Benefits

Stakeholder engagement provides opportunities to further align business practices with societal needs and expectations, helping to drive long-term sustainability and shareholder value.[2] (reference no longer available)

Stakeholder engagement is intended to help the practitioners fully realise the benefits of stakeholder engagement in their organization, to compete in an increasingly complex and ever-changing business environment, while at the same time bringing about systemic change towards sustainable development.[5] (reference redirects to an ecig page)

References

  1. ^ http://www.stakeholdermapping.com/srmm-maturity-model/
  2. ^ a b c http://www.altria.com/responsibility/pdfs/AltriaSESources_090104.pdf
  3. ^ a b c http://www.accountability21.net/uploadedFiles/publications/Stakeholder%20Engagement_Practitioners'%20Perspectives.pdf
  4. ^ http://www.ifc.org/ifcext/enviro.nsf/AttachmentsByTitle/p_StakeholderEngagement_Full/$FILE/IFC_StakeholderEngagement.pdf
  5. ^ http://www.accountability21.net/uploadedFiles/publications/Stakeholder%20Engagement%20Handbook.pdf

External links

  • Stakeholders en español

Library of Stakeholder Engagement articles on TriplePundit [1]

  • The Environment Council
  • Global Reporting Initiative
  • Future 500
  • Future 500
  • Boreal-is.com


This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.