Stakeholder Management and Engagement

Question 1

What is the First Step of BSR’S Five-Step Approach?

Answer 1

Engagement Strategy - Set vision and level of ambition for future engagement, and review past engagements.

Question 2

What is the Second Step of BSR’S Five-Step Approach?

Answer 2

Stakeholder Mapping - Define criteria for identifying and prioritising stakeholders, and select engagement mechanisms.

Question 3

What is the Third Step of BSR’S Five-Step Approach?

Answer 3

Preparation - Focus on long-term goals to drive the approach, determine logistics for the engagement, and set the rules.

Question 4

What is the Forth Step of BSR’S Five-Step Approach?

Answer 4

Engagement - Conduct the engagement itself, ensuring equitable stakeholder contribution and mitigating tension while remaining focused on priorities.

Question 5

What is the Fifth Step of BSR’S Five-Step Approach?

Answer 5

Action Plan - Identify opportunities from feedback and determine actions, revisit goals and plan next steps for follow-up and future engagement.

Question 6

What are the 4 phases of Stakeholder Mapping

Answer 6

1. Identify Stakeholders
2. Analyse
3. Map
4. Select Engagement Approaches

Question 7

What does Monitoring mean in the Engagement Approach?

Answer 7

Tracking and Monitoring stakeholder positions via research or discussion with other parties.

Question 8

What does Messaging mean in the Engagement Approach?

Answer 8

Adapting communications scope and messaging to meet stakeholder expectations. Creating and targeting messages to specific stakeholders.

Question 9

What does Advocating mean in the Engagement Approach?

Answer 9

Activities to enlist support for specific effort or position that may have oppositional or reflect an actual or perceived imbalance of power. Does not necessarily imply that the company will change its approach or direction.

Question 10

What does Consulting mean in the Engagement Approach?

Answer 10

Soliciting explicit feedback or input on a project or plan. Implies an expectation by the stakeholders that the company will make concrete changes based on the consultation.

Question 11

What does Collaborating mean in the Engagement Approach?

Answer 11

Initiating or participating in two-way dialogue focused on mutual learning and solutions. Can include co-creation of new ideas and approaches.

Question 12

What does Innovating mean in the Engagement Approach?

Answer 12

Shared work on common objectives of the company and its stakeholders. Can include co-creation, as well as co-implementation of new ideas.

Question 13

What are the 5 trends transforming Stakeholder Engagement?

Answer 13

1. Communication, Connectivity and Hyper-Transparency
2. Individual Empowerment and The Rise of the Middle Class
3. The Demographic Shift and the Automation of Work
4. The Primacy of Climate Change and Water Resources
5. Supply Chain Oversight Ramps UP.

Question 14

What is the Eirgrid Stakeholder Engagement Plan?

Answer 14

1. Map Stakeholders (WS)
2. Agree Engagement Plan (WS)
3. Design Engagement Activities (WS)
4. Carry out good practice engagement (I)
5. Consider all feedback received (I)
6. Make a Decision (I)
7. Publish the Outcome (I)
8. Review process, capture learning and agreement. (WS)