Creating positive relationships with stakeholders reduces the risk of adversity to your organisation. It requires understanding your stakeholders’ needs and desires. The greater your understanding, the greater the potential for positive engagement. Intelligence gathering and stakeholder mapping enable the profiling of stakeholder groups, encompassing your organisation’s impact on them and their potential impact on your organisation.
Stakeholder engagement is vital to an organisation’s transparency and accountability. Stakeholder engagement goes beyond stakeholder management. The latter implies a one-way process of risk mitigation. Engagement is about dialogue and is a two-way process that involves risk mitigation AND opportunity development.
If you want to go quickly, go alone
If you want to go far, go together
– African proverb