ABSTRACT
How do effective directors ensure proper stakeholder engagement and management is in place?
Based on a framework of global corporate governance best practice, which can be used in all organisations anywhere in the world, this chapter of Questions To Ask (QTA) in the boardroom gives a high-level but succinct introduction to stakeholder engagement and management.
All directors should ensure that there is a clear stakeholder engagement and management plan in place.
The chapter considers the benefits of stakeholder engagement and management planning on a personal and organisational level. This includes legal and statutory requirements, the mapping of stakeholders, understanding of stakeholders and what influences them, and considerations about maintaining the relationship with stakeholders.
The chapter’s introduction leads into outlining the key Questions To Ask in the boardroom, giving the reader further insight into how to initiate discussions about the practical details requiring the attention of the board.
