Measuring and managing stakeholder relations

The current popularity of the idea of stakeholding is partly because it can mean all things to all men. Clearly, defining the different meanings of stakeholding helps to make it a practical tool of management. The first task is to examine who the significant stakeholders of the company are, then to engage in a dialogue to discover what it is they value. By measuring performance improvement in delivering value to all stakeholders, not only can companies become more inclusive, they can also achieve more sustainable business success.