Assessment by Stakeholders of Organisations

 

Key Stakeholder Groups as well as any othe groups that may have an impact on the firm are identified by the organisation, and individual stakeholders are selected to perform the assessment online. Assessment results are available soon after the assessment cycle has been completed. These results enable the organisation to establish gaps as well as practices that need to be improved, changed, or transformed.

​

Stakeholder Engagement

 

Organisations can no longer choose if they want to engage with stakeholders or not; the only decision they need to make is when and how to successfully engage. Stakeholder engagement is premised on the notion that ‘those groups who can affect or are affected by the achievements of an organisation’s purpose’ should be given the opportunity to comment and input into the development of decisions that affect them. In today’s society, if they are not actively sought out, sooner or later they may demand to be consulted.

Engaging stakeholders is a requirement of the Global Reporting Initiative (GRI). The GRI is a network-based organization with a sustainability reporting framework that is widely used around the world (also referred to in the King IV™ Report)

Stakeholder engagement provides organisations with the ability to communicate with stakeholders, involve them in decisions that may affect them significantly, identify risks that may not otherwise have been considered and to obtain their viewpoints on key organisational processes such as leadership, strategy, people management, process management, customer management etc.

​

The viewpoints of a wide range of stakeholders from all or most of the stakeholder groups that may have some relationship with the organisation can be obtained through a formal assessment.  If these viewpoints are obtained in the context of widely used business frameworks, such as the Balanced Scorecard, the Excellence Framework for Quality Management (EFQM), the abovementioned ISO standards and the King IV™ governance guidelines, organisations can identify strengths, weaknesses, opportunities and threats (SWOT) that could significantly supplement those viewpoints that had been obtained by other means of internal or external analyses. Stakeholder viewpoints of organisational processes mentioned above can be analysed to assist in possible improvement and transformation ventures in the organisation. Such responses can be obtained periodically in order to establish whether improvements had been achieved.

 

Stakeholder Voice provides for a means for organisations to acquire first-hand stakeholder perspectives of the firm’s excellence in an efficient, cost effective manner.

​

Assessments performed regularly, typically annually, can indicate to which degree interventions have been successful and have contributed to improvement in the levels of excellence in the firm.