Engaging with stakeholders is all about listening and talking to shareholders, employees, customers, etc. A constant dialog will help you to understand the wide-ranging issues confronting your company.

Engaging your stakeholders can enable you to achieve the following:

• Identify and resolve any difficult issues before they threaten your company's license to operate
• Head off or significantly reduce the legal and reputational cost of resolving conflicts with communities, customers, or other stakeholders
• Help your company develop new products and services, enter new markets, and enhance existing market presence
• Help your company to build skills and competencies, or align company operations with its mission and values