Corporate Citizenship Blog

Stakeholder engagement as strategy development

Posted by Colleen Olphert, Director, Membership and Member Services on Feb 10, 2017 2:26:52 PM

The following is excerpted from The State of Corporate Citizenship 2017. To learn more about how you can prioritize the corporate citizenship issues that are most important to your stakeholders and business context, consider joining online from February 20-April 17, 2017 for our Materiality: Determining Priorities for Corporate Citizenship Strategy and Reporting course.

While the 2017 State of Corporate Citizenship shows a declining interest in formal stakeholder engagement among executive respondents, engaging with both internal and external audiences can be an important component of any corporate citizenship program. Through stakeholder engagement, companies can fully understand their social, environmental, and economic impacts, and prioritize the issues that are most important to both stakeholders and their business context.

Many companies, like CBRE—the world’s largest commercial real estate services firm—use the insights they gather from stakeholders to inform a materiality assessment, creating a roadmap for more strategic time and resource allocation, and more comprehensive reporting.

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Topics: Corporate Citizenship, Stakeholder Enagement, materality, Sustainability Reporting

Understanding your material issues is essential to corporate citizenship success

Posted by Katherine V. Smith, Executive Director on May 4, 2016 8:56:18 AM

“If you can’t explain it simply, you don’t understand it well enough.”—Albert Einstein

What did Einstein mean by this? There have been two spins on this statement. The first being that some things are too complex to be understood fully and thereafter simplified and the second being that real understanding allows us to focus on what matters and describe the problem to be solved.

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Why is this relevant to the corporate citizenship practice? Our work context is incredibly complex. The arenas routinely touched by corporate citizenship programs include the natural environment, financial markets, investors, communities, employees. How do we balance those priorities? Creating a materiality assessment focused on opportunities for success and risk of negative outcomes is critically important. Understanding our goals as problems that we are solving for helps to keep in focus the most material facts of our case as they shift or intensify over time and guide our allocation of effort and resources. The Center has resources that can help you determine which issues are most important to your success.

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Topics: Business Perspectives, materality

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Welcome to the Boston College Center for Corporate Citizenship blog, we are your resource for corporate citizenship insights, research, trending topics and executive education. Our blog is a place to exchange ideas and learn about corporate citizenship.

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