Stakeholder capital: a catalyst for business success
We are living in a world of radical information transparency and instant mass communications capability. The former means that what happens in a far-flung corner of a company’s operations can now be detected and analysed by any number of affected or interested parties. The latter means that any resulting critiques of corporate malfeasance can be easily transmitted, via social networks, to global audiences. This transmission is now instantaneous, cost-free, and frictionless. Today, it is not a question of whether companies need to engage stakeholders, but how. In today’s world there is simply no place for a company to hide.
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