Corporate Diplomacy: Building Reputations and Relationships with External Stakeholders

By Witold Henisz

* Profiles firms at the forefront of corporate diplomacy
* Explores a fundamental challenge faced by managers of multinational corporations
* Presents new tools to help develop smarter corporate strategies for stakeholder engagement

Managers of multinational organizations are struggling to win the strategic competition for the hearts and minds of external stakeholders. These stakeholders differ fundamentally in their worldview, their understanding of the market economy and their aspirations and fears for the future. Their collective opinions of managers and corporations will shape the competitive landscape of the global economy and have serious consequences for businesses that fail to meet their expectations.

This important book argues that the strategic management of relationships with external stakeholders - what the author calls "Corporate Diplomacy" - is not just canny PR, but creates real and lasting business value. Using a mix of colorful examples, practically relevant tools and considered perspectives, the book hones in on a fundamental challenge that managers of multinational corporations face as they strive to compete in the 21st century.

As falling communication costs shrink, the distance between external stakeholders and shareholder value is increasingly created and protected through a strategic integration of the external stakeholder facing functions. These include government affairs, stakeholder relations, sustainability, enterprise risk management, community relations and corporate communications. Through such integration, the place where business, politics and society intersect need not be a source of nasty surprises or unexpected expenses.

Most of the firms profiled in the book are now at the frontier of corporate diplomacy. But they didn't start there. Many of them were motivated by past failings. They fell into conflicts with critical stakeholders - politicians, communities, NGO staffers, or activists - and they suffered. They experienced delays or disruptions to their operations, higher costs, angry customers, or thwarted attempts at expansion. Eventually, the managers of these companies developed smarter strategies for stakeholder engagement. They became corporate diplomats. The book draws on their experiences to take the reader to the forefront of stakeholder engagement and to highlight the six elements of corporate diplomacy.



    REVIEW QUOTES
"Henisz's Corporate Diplomacy offers a rare multi-disciplinary guide far beyond social license. The innovative tools and simplified checklists are accessible to staff at all levels. Data, dynamics and internal engagement summarize much experiential learning from the past decade. As we open our companies to more enduring external engagement, we have to be intentional and aware of our own internal cultures and communication styles. Armed with the lessons from this book, I expect the next generation of corporate diplomats to catapult us forward so that extractive industries, in particular, may better serve people, planet and profit."

- Veronica Nyhan Jones, Extractives Sector Lead, Strategic Community Investment/CommDev, The World Bank
"Henisz's Corporate Diplomacy offers a rare multi-disciplinary guide far beyond social license. The innovative tools and simplified checklists are accessible to staff at all levels. Data, dynamics and internal engagement summarize much experiential learning from the past decade. As we open our companies to more enduring external engagement, we have to be intentional and aware of our own internal cultures and communication styles. ... Armed with the lessons from this book, I expect the next generation of corporate diplomats to catapult us forward so that extractive industries, in particular, may better serve people, planet and profit." - "Veronica Nyhan Jones, Extractives Sector Lead, Strategic Community Investment/CommDev, The World Bank"
"A useful guide on how to manage the collective opinion of external stakeholders in a business In short, Witold J. Henisz has given a fascinating and fresh insight into smart stakeholder engagement by managing the analytical and behavioural elements of diplomacy."--Sasmita Maurya, CSR International Book Review Digest"
"Call them corporate diplomats, corporate idealists, or government or community relations professionals: Witold Henisz knows that they determine whether global companies fail or succeed. In "Corporate Diplomacy" he speaks directly to them, presenting cases, data, tools, and advice to help them improve outcomes for their companies, affected stakeholders -- and consequently the world at large."- "Christine Bader, Author, "The Evolution of a Corporate Idealist: When Girl Meets Oil""



    SHARE THIS
Embedicon
 
9781783532988
eBook

  Choose a format

Price: $28.95/ea

1 $28.95 9781783532988 No volume discount available.

About the Paperback

Publisher Routledge/ Taylor & Francis
Publish date 11/15/2016
Pages 250
ISBN-13 9781783532988
ISBN-10 178353298X
Language English