ABSTRACT
This chapter suggests that the concepts of stakeholder dialogue as it does on examples and principles of best practice, as the intention is to stimulate innovative thinking on the reasons for engaging in stakeholder dialogue. Effective stakeholder dialogue is a critical element of good corporate citizenship. Stakeholder dialogue occurs all the time, as managers communicate with staff, suppliers and consumers during the normal course of business. The increase in interest in stakeholder dialogue is due to both the shifting perceptions within society and the private sector about the role of the modern corporation, and management's growing awareness of the importance of intangible assets to corporate value and profitability. Social or environmental reports are key stages in any stakeholder dialogue process, while a stakeholder dialogue process is a key stage in any valuable social or environmental report. A number of attempts have been made to distil the ways in which positive stakeholder relations and, in turn, business–non-governmental organisation partnerships help business.
