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The Stakeholder Strategy

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The Stakeholder Strategy

Profiting from Collaborative Business Relationships

Berrett-Koehler,

15 min read
10 take-aways
Audio & text

What's inside?

If you thought you had a tough job getting production, sales and marketing  to all play nice, you ain’t seen nothin’ yet.

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Editorial Rating

8

Qualities

  • Analytical
  • Innovative
  • Applicable

Recommendation

Ann Svendsen’s critically acclaimed book is one of the first attempts to define a new relationship between business and its employees, customers and communities. Written in a conversational, intelligent style, it makes the case for collaborative stakeholder relationships and tries to show companies how they can develop and nurture those relationships for everyone's mutual benefit. Svendsen gives plenty of examples, drawn from diverse industries, to support her claims. Company leaders and managers, and all corporate stakeholders will find insights here.

Summary

Profitable Relationships

Every company is composed of a network of stakeholders, some of whom are the owners, managers and employees traditionally recognized as the parts of the organization, but some of whom lie outside of the company’s official boundaries. In the past, suppliers, customers, groups and individuals in the local community and even shareholders were rarely mentioned as important constituents of a company.

But as the world becomes increasingly connected, the relationships between internal and external corporate stakeholders are increasing in importance. Pursuing financial gain at the expense of employees, the environment, local communities, or any other stakeholder is now more than just socially irresponsible - it’s dangerous to a company’s fortunes. Rapid expansion of communications, including the Internet and 24-hour news coverage, means that information about a company - either positive or negative - can be instantly disseminated through a community and the world. If a company is doing wrong, its reputation can suffer, resulting in loss of public confidence followed by a nose-dive in stock prices, product sales and future profits.

In light of...

About the Author

Ann Svendsen is a senior partner with CoreRelation Consulting in Vancouver, Canada, where her clients include resource and utility companies, regional and provincial governments, and financial institutions. For the past 16 years, she has worked as a consulting sociologist, helping companies and government agencies identify, understand and work effectively with their internal and external stakeholders.

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