Environmental and social reporting as a tool for dialogue with stakeholders in the Highveld region

M.Comm.Challenges to businesses have become ever more complex and unpredictable in a fast changing and globalised world. Businesses continuously have to find ways to respond to pressing challenges that were not on the agenda in the past two decades. The traditional stakeholder base has broadened and includes diverse groups of interested parties inside and outside the boundaries of business. The business imperative is now the ability to balance the conflicting demands of its various stakeholders. Businesses are anxious to protect their reputation and to comply with legislation, however, growing stakeholder activism signals emerging gaps or barriers between organisational methods and stakeholder expectations. Broader stakeholder engagement and collaboration to find a win-win solution to these concerns, while valuing stakeholder relationships is key to unlocking value in today’s ramified network based economy. Businesses need to establish meaningful collaborative communication with stakeholders. The possibility to enter into dialogue and advocate greater transparency and information disclosure per stakeholder group is highly recommended. It is also recommended that business consider a shift from stakeholder management to stakeholder collaboration practices