Effective stakeholder engagement and management are essential for the success of modern organizations. Identifying and prioritizing stakeholders lays the groundwork for tailored communication and engagement strategies. This chapter emphasizes the importance of understanding stakeholder dynamics and presents frameworks and case examples illustrating successful engagement, particularly in sustainable business practices. It also highlights challenges in stakeholder management ranging from diverse stakeholder interests, communication and cultural barriers to power dynamics. Addressing these challenges is essential for organizations aiming to implement sustainable practices and strengthen community relations. As organizations increasingly recognize the importance of stakeholder relationships, ongoing research and practice in this domain will be crucial for fostering sustainable business practices and positive community relations.
Sustainability, Stakeholder engagement, Triple Bottom Line, Impact Reporting, Stakeholder Dynamics