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Corporate Diplomacy - Building Reputations and Relationships with External Stakeholders (Paperback)
Loot Price: R1,038
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Corporate Diplomacy - Building Reputations and Relationships with External Stakeholders (Paperback)
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Managers of multinational organizations are struggling to win the
strategic competition for the hearts and minds of external
stakeholders. These stakeholders differ fundamentally in their
worldview, their understanding of the market economy and their
aspirations and fears for the future. Their collective opinions of
managers and corporations will shape the competitive landscape of
the global economy and have serious consequences for businesses
that fail to meet their expectations. This important new book
argues that the strategic management of relationships with external
stakeholders - what the author calls "Corporate Diplomacy" - is not
just canny PR, but creates real and lasting business value.Using a
mix of colourful examples, practically relevant tools and
considered perspectives, the book hones in on a fundamental
challenge that managers of multinational corporations face as they
strive to compete in the 21st century. As falling communication
costs shrink, the distance between external stakeholders and
shareholder value is increasingly created and protected through a
strategic integration of the external stakeholder facing functions.
These include government affairs, stakeholder relations,
sustainability, enterprise risk management, community relations and
corporate communications. Through such integration, the place where
business, politics and society intersect need not be a source of
nasty surprises or unexpected expenses. Most of the firms profiled
in the book are now at the frontier of corporate diplomacy. But
they didn't start there. Many of them were motivated by past
failings. They fell into conflicts with critical stakeholders -
politicians, communities, NGO staffers, or activists - and they
suffered. They experienced delays or disruptions to their
operations, higher costs, angry customers, or thwarted attempts at
expansion. Eventually, the managers of these companies developed
smarter strategies for stakeholder engagement. They became
corporate diplomats. The book draws on their experiences to take
the reader to the forefront of stakeholder engagement and to
highlight the six elements of corprate diplomacy.
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