How to Pursue an Impactful Business Approach to Sustainability
Engaging stakeholders is key for the development of a responsible and sustainable business model.
Discover the benefits of running a Stakeholder Dialogue.
When it comes to sustainability, leadership can only yield impact if systemic change and transformation of the entire eco-system is envisaged. For this reason, when a company wants to develop a responsible and sustainable business model, creating added value for society, stakeholder’s engagement is key.
Stakeholder engagement is the process whereby an organization involves and consults groups who may be affected by its decisions or that can influence the implementation of its decisions. At CSR Europe, we have developed and perfected a sound methodology to support companies in this undertaking over the past twenty years.
With our Stakeholder Dialogue, we will set up a defined and measurable stakeholder engagement policy that on top of highlighting purpose, target groups and responsibilities, will also identify the principles upon which the dialogue is based.
Amongst the common principles included there are:
Transparency in relationships, and in financial and non-financial communications
Active listening
Participation in the company’s activities
Collaboration and continuous improvement mechanism to ensure stakeholders respond in the most efficient way possible to the needs of each moment.
At the same time, having a stakeholder engagement policy in place is not sufficient to achieve impact. For this reason, in our Stakeholder Dialogue we support companies in backing up this policy with a well-defined process to consult and engage stakeholders, keeping track of changes over time and secure constructive interactions.
As a result, companies who took advantage of the service in the past, benefited from more consistent and transparent communication; improved reputation and enhanced sustainability performance overall. With this approach, a company is able to engage in a two-way dialogue that will not only enhance the quality and depth of feedback but will also build trust and long- term relationships with key stakeholders that impact on your business.
The effectiveness of our service is also due to our ability to bring around the table a wide pan-European network of companies, organisations, and institutions, such as the European Commission and experts from national governments. Thanks to this unique mix of direct and indirect stakeholders, companies can receive the quality feedback they need to stay relevant on the market.
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