How to Create a Stakeholder Strategy
A data-driven approach to design, measurement, and implementation by Darrell Rigby, Zach First and Dunigan O’Keeffe
Nina Papiorek
Summary.
Most people will readily agree that the first responsibility of business leaders is to grow the long-term value of their companies. But that’s where the agreement ends and the debate begins: What is value, and how should it be measured and managed? Is a company’s value maximized by being shareholder-centric, customer-centric, employee-centric, or some-other-stakeholder-centric? In a complex system where every stakeholder influences other stakeholders’ outcomes—highly engaged employees improve customer satisfaction, which in turn helps accelerate profitable growth, and so on—are any stakeholders safe to neglect?
Read more on Business and society or related topics Strategy formulation, Analytics and data science, Growth strategy, Financial performance measurement and Transparency
A version of this article appeared in the May–June 2023 issue of Harvard Business Review.
Read more on Business and society or related topics Strategy formulation, Analytics and data science, Growth strategy, Financial performance measurement and Transparency