Include Stakeholder Management in Strategy




Strategic Stakeholder Management
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2
Boumans, Netherlands

Include Stakeholder Management in Strategy

I would appreciate to receive some views to the position that "Stakeholder Management should be part of the Corporate Strategy"...?
 

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2
Edgar, Netherlands
 

@Bouwmans

Stakeholders are vital to the reputation of a company. Strategic stakeholder engagement can ensure that the reputation of a company is managed in a proactive instead of reactive style. This is far more efficient and has more effect. It can also generate more business if done correctly

 
0
Christos Papadimas
Manager, Canada
 

The Importance of Stakeholders

The effective management of stakeholders has a direct impact on the firm's performance. For example, if a company fulfills the expectation of all its primary stakeholders such as bondholder, it will receive a better credit rating and better borrowing rates. Furthermore, stakeholders might have one or all attributes of power, legitimacy and urgency to influence the firm's decision makers on strategy formulation.

   

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