There are different levels of involvement that characterize the stakeholders and which, therefore, can be:
Unconscious: Not aware of the project and its impacts.
Resilient: Aware of the project and resistant to change.
Neutral: Aware of the project, but neither a supporter nor an opponent
Supporters: Aware of the project and in favor of change.
An effective stakeholder engagement strategy has many benefits, including informed decision-making and cost savings. Various analyses show how companies that engage their stakeholders improve their chances of completing a project on time and within budget, thanks to the reduction of blockages and surprises that can slow down development. In this sense, they also help build trust with stakeholders, which can be helpful, if not vital, in the event of a crisis. Finally, better risk management can help identify potential hazards before they become threats.
The role of stakeholders in ESG strategies
The role of stakeholders in the company becomes truly crucial when the organization wants to overseas chinese database accelerate ESG (Environmental, Social, Governance) strategies, that is, those that aim to improve management transparency regarding high-impact issues such as social equity, gender equality, and respect for the environment.
These strategies no longer represent simply the organization's desire to adopt more ethical and sustainable business approaches, but increasingly also a highly differentiating competitive drive and the key to lasting success.
Incorporating ESG criteria into decision-making processes represents a major challenge for any organization, but the use of reporting tools—such as a sustainability report—can help improve the engagement of various stakeholders who, for various reasons, are interested in better understanding the true value generated by the company.
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