Module E: Stakeholder Voice in the Boardroom

In an era of hyper-transparency, political and social disruption, businesses are having to re-evaluate their purpose in society. Hyper-competitive global markets, disruptive technologies, cultural shifts in expectations regarding consumption and work, new demands for environmental sustainability and looming automation represent just some of the existential threats that companies are facing today. More than ever before, companies and boards are facing growing pressure from their stakeholders to integrate new ideas and voices towards their strategy development to enhance commercial success, reduce risk and create shared value. How should companies respond to these challenges? What must companies do to build confidence and remain relevant in a globally connected digital age? In this programme, we sketch out some key considerations as answers to such questions. The headline thought is that it is crucial to adopt a governance structure (and a ‘corporate culture’) that builds trust and provides a relevant experience for all stakeholders inside and outside a company. And here we do not just refer to the variety of investors (activists, families, ESG investors, etc.) but also key stakeholders including employees, consumers, creditors, other companies (both large and small), non-profits, educational institutions, governments, etc. Increasingly, there is a need to respond to the changing landscape of ‘new’ stakeholder groups. What would be the future of stakeholder engagement as we move into a more collaborative, inclusive and strategic engagement – an engagement that provides significant value beyond risk avoidance?

Learning Outcomes

• Know how to design appropriate and effective stakeholder engagement mechanisms
• Understand the importance of reporting and feedback to stakeholders
• Explain why a strong corporate culture matters
• Master the art of corporate storytelling
• Know how to build trust with your stakeholders