CSR Guidelines for the Financial Sector - page 31

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In engagingwith stakeholders, we create a stakeholdermap. This involves a visual display to help analyze and
prioritize stakeholder groups. Below is an example of a stakeholdermap that prioritizes stakeholder groups based on
their direct impact to the organization (please note there aremany alternative stakeholdermaps available).
Alternatively, stakeholders can be prioritized by how strongly they can influence or are influenced by the organization
or its operations. This can be done by identifying the stakeholders and based on a set of questions prioritize them
based on their potential influence. Bymeans of an example, below is amodel of an organization that estimated the
strength of its influence on or by such stakeholders by answering yes or no to seven questions. The higher the score
the stronger the influence on or by the stakeholder group and therefore an organization ismore likely to consider
and prioritize such stakeholder group.
WARNING:
Often, identifying stakeholder groups is not as difficult as identifying the appropriate
representative. Talkingwith or communicating to a non-representative person of the stakeholder group
would not be beneficial nor serve the purpose of stakeholder engagement.
High
High
Interest
Low
Power
Low
Keep
Satisfied
Invest in keeping these
stakeholders satisfied
Manage
Closely
These are key stakeholders
that must be fully engaged.
Monitor
(Minimum Effort)
These stakeholders should
bemonitored but without
excessive engagement.
Keep
Informed
These stakeholders need
to be kept informed so that
nomajor issues arise.
Prioritizing Stakeholder Groups
Stakeholders
Employees
Customer
Local
community
Investors
Supply Chain
Source: TheGRI Sustainability Report Cycle
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Does this group strongly influence
the company’s performance?
Economic Environmental Social Economic Environmental Social
Is this group strongly influenced
by the company’s performance?
Will this group
strongly influence
or be strongly
influenced
in the future? Total
1...,21,22,23,24,25,26,27,28,29,30 32,33,34,35,36,37,38,39,40,41,...87
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