ABSTRACT

Stakeholder concerns have been taken into account throughout the strategic analysis as an integral component of a responsible business approach. Engaging investors and the workforce have been covered in the preceding chapters; in this chapter the strategic issues pertinent to a number of other stakeholders are outlined. Government is the most powerful and important stakeholder so it is important to find alignment with governmental goals. NGOs have little direct power but their ability to influence has grown over the same period that society’s trust in business has diminished. The cultivation of links with particular NGOs can be useful where a shared agenda can be found. Finally, the relationship with other corporations is naturally one of rivalry but through a stakeholder perspective it becomes possible to think in terms of positioning the corporation in a stable business ecosystem thus reducing the intensity of rivalry. First, let us consider customers, who are fundamental to the corporation, the strategy and its delivery.