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Stakeholder Engagement

In: Disaster in the Boardroom

Author

Listed:
  • Gerry Brown
  • Randall S. Peterson

    (London Business School)

Abstract

We argue that effective stakeholder engagement can play a very important role in reducing or preventing the six board dysfunctions. The distinction is drawn between stakeholder engagement and governance, the latter usually involving direct board representation by employees, customers and so on. We explain the practical barriers to engagement including that some stakeholders lack the necessary knowledge and experience to contribute effectively to making difficult board decisions and the very real practical difficulty of balancing the different interests of the various stakeholders. We highlight research evidence demonstrating that effective stakeholder engagement can help to increase the performance of companies and contribute to increased shareholder value. The recent growing interest by investors in Environmental, Social and Corporate Governance (ESG) and the board performances by companies in that respect is particularly noteworthy.

Suggested Citation

  • Gerry Brown & Randall S. Peterson, 2022. "Stakeholder Engagement," Springer Books, in: Disaster in the Boardroom, chapter 12, pages 183-206, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-91658-9_12
    DOI: 10.1007/978-3-030-91658-9_12
    as

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