In my last post, I outlined the importance of gathering stakeholder intelligence from a wide diversity of audiences that can impact your reputation. The aim should be to capture the complexity of the company, starting with the most important markets and audiences, and scaling up over time. In this post, I want to talk about how to maximize value by integrating intelligence streams. With the massive popularity and impact of online and social media, companies need to frequently monitor how … “Are your intelligence streams integrated?”
Last night I attended a forum on Radical Collaboration, hosted by The Crowd. Here’s my perspective on how to build ‘open innovation’ with stakeholders, from what I heard in the great TED style talks, panel Q&A and our stimulating round table discussion: 1. Have a common goal. In her talk, Jenny Holdcroft (Policy Director at global union IndustriALL) explained that the success of the Bangladesh Accord depends on companies and unions working towards a common goal to transform the industry. In areas … “8 ways to build open innovation and collaboration with stakeholders”
Building upon the last post in this blog series on Building Resilient Corporate Reputations, we looked at the importance of an aligned organization. We also advocated using a customized approach to reputation management to ensure your company is asking the right questions to the right people. The next key step is for organizations to obtain a 360 degree perspective of their reputation, from people who know the organization well, but also from those who don’t. Many companies shortchange their reputation … “Is your reputation measurement system inclusive enough?”
In my previous post, I discussed the importance of understanding the external operating environment for best practice reputation management. It is equally important that companies understand the internal operating environment, to understand which approaches to reputation management will work best within the company’s culture. For a reputation management strategy to be successful and sustainable, it is critical that there be cross-functional buy-in and engagement across the business – people need to believe in the process and see reputation as “everyone’s … “Is your company aligned and are you asking the right questions?”
Drawn from our new brief, Building Resilient Corporate Reputations, this new blog series explores best-practice solutions to common challenges and shortcomings of corporate reputation management. Whether you need to begin, to evaluate or to re-design your reputation management system, the brief and blog series will help you to assess how fit-for-purpose your current reputation approach may be. Femke de Man, Director, Reputation, introduces the findings in the video below. As society becomes more globally interconnected and expectations of business increase and expand … “What are the best practice solutions to improve reputation management systems?”
The final blog in our series on stakeholder engagement (part 1 | part 2) looks at the psychosocial factors that underlie group brain storming, and why collaborative forums are emerging as an effective tool for business. We know that collaboration between individuals is particularly effective when attempting to generate unique and constructive solutions to problems. Group brainstorming has been shown to produce more high quality and relevant ideas compared to individual efforts1, 2. Exposure to others’ ideas has been shown … “Why are online Collaboration Forums effective for engaging stakeholders?”
We’re starting this week’s blog with a brief history of stakeholder engagement on corporate responsibility. Looking back to the eighties, corporate stakeholder engagement on sustainability was initially oriented towards governments and environmental compliance. Push-back on infrastructure and development from communities was the main catalyst for public consultations, which were largely local, box-ticking exercises. As we moved into the 1990s, the rise of a more empowered civil society culminated with the Battle of Seattle protests at the WTO meeting as the … “What is the future of stakeholder engagement?”
The first blog in our series on stakeholder engagement starts with the basics – why does stakeholder engagement matter? We’ve identified three key trends that help answer this question and give direction on how business can gain more value from stakeholder relations. First, companies are having to manage the rapidly changing dynamics of the relationship between business and society. They are being increasingly compelled to engage in dialogue and collaborate with their stakeholders, rather than simply communicating to them. While … “Why does stakeholder engagement matter?”
Much has been written about the benefits of engaging employees on corporate social responsibility or sustainability efforts. Take GlobeScan board member Kellie McElhaney’s assertion in her book, “Just Good Business”: “Study after study shows that CSR is significantly linked to employees’ satisfaction. Employees tend to feel good about coming to work and earning a paycheck, as well as about contributing to some sort of social or environmental issue.” GlobeScan’s research has indicated that for many employees their company is engaging … “You’re Talking to Employees About Sustainability Wrong”
Earlier this week, Dutch pension fund PGGM Vermogensbeheer B.V announced that they would cease investment in US retail giant Walmart, citing the company’s failure to engage with their concerns, particularly over labour issues. Two years ago, GlobeScan examined the public’s perceptions of Walmart and found that it was cited as socially irresponsible by many more than described it as responsible. In 2013, that trust deficit persists. When asked, unprompted, to name a socially responsible company, 2 percent cited Walmart, whereas … “Labour Issues at Heart of Walmart’s Reputational Problems”