Many companies and organisations mistakenly view stakeholder engagement primarily as a public relations or communications exercise. They struggle to relate the engagement to their core business activities and find it difficult to build internal awareness and interest in the process. When the time comes to map stakeholders, they talk only to those they already know or to those who speak loudest.
Even if they succeed in gathering useful insights from stakeholders, they have difficulty determining what actions to take in response. It is critical for stakeholders to understand why others want to partner with them. This can help to facilitate a smooth relationship among partners, and also ensure that partners are properly sourced. With a clear understanding of what each stakeholder brings to the table, partnership practitioners will be able to better align on a united vision – a critical success factor for transformative partnerships.
(Source: ‘Five-Step Approach to Stakeholder Engagement‘ by Alison Taylor and Charlotte Bancilhon, published by BSR, 2019 and ‘A Time for Transformative Partnerships‘ by Serena Li, Erin Gray and Maggie Dennis, published by the World Resources Institute, 2020)
This section contains a number of reports, influencer strategies, infographics and research specific to the circular economy.