Business is facing pressure to get serious to create long-term value to a broader range of stakeholders rather than focusing on shareholder value-maximizing. We are building a shared understanding of business’ role and responsibilities in stakeholder capitalism together with an understanding of how the concept would apply to purpose, strategy, duties, risk and opportunity management, value and values.
To be able to create long-term value, ensure resilience and contribute to the global sustainability goals, companies need to understand and manage their relevant stakeholders. However, there isn´t a shared understanding of stakeholder capitalism or clear practical considerations on the role of business.
The purpose of business is to create value for all stakeholders: employees, customers, suppliers, communities, the natural environment and shareholders. Understanding business´ concrete role and enabling effective stakeholder management will help unlock opportunities and manage risks.
This project defines the role of business in enabling and shaping stakeholder capitalism, moving from a concept to practical definitions and implications together with an understanding of how the concept would apply to purpose, strategy, duties, risk and opportunity management, value and values.