Measuring the Business Value of Stakeholder Relationships

The research addresses the following questions: 1) Under what conditions, and through which pathways, do stakeholder relationships create business value? 2) What are the essential attributes of an organization that facilitate the creation of positive stakeholder relationships? 3) What measures are most useful in assessing the quality of stakeholder relationships? The project is a joint initiative between CIM and Schulich School of Business at York University, sponsored by the Canadian Institute of Chartered Accountants.

 

The Stakeholder 360: Measuring the Business Value of Stakeholder Relationships

The Stakeholder 360 is a measurement and management tool developed by CIM to assess the levels of social capital in a company's relationships with its stakeholders. Over the next five years, CIM in cooperation with Papua New Guinea University will conduct the 360 to monitor and report on the mine closure and sustainability planning process instituted by Placer Dome Inc. and Misima Mines Limited on Misima Island in PNG.

Non-Financial Performance Measures and Corporate Governance

This research explores the importance and role of non-financial performance measures in providing boards of directors and senior management with the information needed for effective corporate governance. The report also presents an in-depth study of performance management practices in five major Canadian corporations: Nortel, the Bank of Montreal, Nova, Syncrude, and Noranda.

 


From Conflict to Collaboration: Stakeholder Bridging and Bonding in Clayoquot Sound

This case study analyzes the seven year development of the relationship between a forestry company and a coalition of environmental stakeholder groups opposing the clearcutting of old growth forests in British Columbia. Central actors' retrospective accounts suggest the move from interorganizational conflict to interorganizational collaboration requires an intervening interpersonal stage in which individuals from each side develop mutual trust. Events suggest third parties can catalyze the transitions into, and out of, the interpersonal trust stage. Comparisons with a similar case imply that advocacy stakeholder coalitions must achieve internal bonding before attempting bridging. The authors suggest firms facing hostile stakeholders should focus, first, on structural factors to end the conflict, second, on interpersonal trust to understand stakeholders' views, and third, on shared values and cognitive frameworks to spark collaboration.

 

External Advisory Committees: Background Research on Best Practise

Companies world wide are establishing external stakeholder advisory committee reporting senior management or boards of directors. Such committees help companies anticipate issues of concern to stakeholders, build trust and credibility, and drive change within the company. This report describes
models and case examples of stakeholder advisory/monitoring committees world-wide, critical success factors, and key implementation issues.


 


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