Stakeholder Management

Abstract

Stakeholders have a key role in the corporate world, and especially related to sustainability. Even peripheral stakeholders can have a great impact on companies. This is an important consideration that companies need to be aware of and consider. In this chapter, I explore the roles of different kinds of stakeholders such as owners, investors, employees, governments, suppliers, customers, NGOs, and the media, and how to communicate and involve these stakeholders in a constructive manner. I address the function of each respective stakeholder as well potential areas for positive collaboration. The power and impact of NGOs on corporations will receive special attention as they often act as representatives for environmental and social interests—and bring such issues to the attention of others. Cases are provided to illustrate the issues presented.