Stakeholder Engagement: Build Bridges Before You Hit Walls

EEC PERSPECTIVES FEBRUARY 2020

Stakeholder Engagement: Build Bridges

Before You Hit Walls

Stakeholder engagement is a mindset as well as a specific business practice. Energy companies are gradually accepting that their ability to conduct business requires the consent of critical constituencies, including customers, investors, employees, communities, regulators, strategic partners and others.

The term “ social license to operate ” includes, but is not limited to, stakeholder engagement . One top-tier management consulting firm has said companies that succeed in the 2020s will do so in part because they have stopped treating “social value” creation as a side activity, something that can be done after the “real work” is finished (see diagram above).

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"I share John’s view that stakeholder engagement is too important to be left solely to a utility’s public relations department. Stakeholder engagement can help a utility more effectively manage its strategic risks in the public arena.

Kennedy Maize, Contributing Editor, Power Magazine

HOW TO PREVENT PR PAIN IN YOUR

ENERGY COMPANY

Communicating effectively with the public on controversial energy matters like “Smart Meters” and “Fracking” is really hard. We don’t know of any company that has done everything right. And some companies have made communications mistakes that were, in retrospect, pretty elementary. Want to avoid making those same mistakes?

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