Posted on: 28 January, 2010
The consultation workshop was held in Seoul, Korea on 18 November in partnership with the Korea Productivity Center, Sustainability Management Center. Alan Knight, Associate Senior Partner at AccountAbility moderated the discussions.
During the first half of the day, participants looked at the requirements for effective stakeholder management within the business context, and also addressed concerns and difficulties regarding stakeholder management.
For example, one of the issues is that as not every stakeholder’s opinion can be incorporated, the issue of prioritising stakeholders’ feedback and the tracking of it (i.e. whether it is incorporated, or whether it’s lead to actual improvement, or not considered) is important. In addition, related to this is the matter of how to prioritize among all stakeholders and how to update and maintain the prioritization as times goes by. This is crucial in the business context as resources are limited. Currently a tool and guidance for this is lacking.
The second part of the discussion revolved around stakeholder enagagement in the Korean context. One of the points which came out was that in the Korean business context, government and shareholders especially take big priority. There are big changes when government regulation is changed. An example of this was given by the participants.
Read the summary of recommendations to learn more about the outcomes from the Seoul consultation workshop: 20100118_AA_Consultation_Workshop_Feedback.pdf
