CORPORATE DIPLOMACY
From Amazon:
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 colorful 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 corporate
diplomacy.
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