A company’s external stakeholder relationships are often just as critical to business sustainability. These often overlooked role-players can have a huge impact on business success. Identifying and actively managing these engagements can be a huge differentiator from the competition.
“A commitment to sustainability recognizes that our company is not measured by financial results alone. We must also be responsible stewards of the environment and responsive to the changing expectations of our stakeholders.” – Jim Rodgers, Duke Energy
As a sustainability consultant, I advise businesses to evaluate their stakeholder touch-points. Moving stakeholder engagement forward in product design and development can reduce cost and add value.
End Customers: Move past simple feedback tools such as consumer surveys. Capture consumer preferences and expectations by actively engaging consumers on sustainability concepts that directly impact business direction, planning, and product development. Move the consumer touch-point forward into the initial design.
Supply Chain: Take a step beyond supplier metrics scorecards and supplier metrics. Integrate supply alliances into the front-end of the design process to ensure alignment and value for material selection, process efficiency, and product quality.
Evidence has shown that stakeholder engagement is critical to a company’s ability to capitalize on its eco awareness, product stewardship, reputation, and overall business sustainability. Taiga Company’s professional consulting can guide your business through the process of identifying and extracting value from its direct and indirect relationships.
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