The Stakeholder Engagement Manual Volume 2 - AccountAbility

P9: CHECKING FOR RESOURCE COMMITMENTS AND DEFINING “MARGINS OF MOVEMENT”
Local Adaptability in Risk Assesments at Telefónica
STAGE 2
BACKGROUND
Successful engagement may require signifi cant resources. Resources are
required for the engagement process itself, but more signifi cantly in making
any necessary changes in response to the outcomes of stakeholder engagement.
Th e availability of resources, degree of organisational commitment and the
operational and strategic necessities of the business infl uence the business’
“margins of movement” regarding the issue. Engagement outcomes may have
signifi cant consequences for your business’ operations and strategy. Th erefore, it
is important to consider these possible outcomes regarding specifi c issues before,
and to relate these to the margin of movement that you have regarding an issue.
You need to consider the possible costs of the process and the degree to which its
outcomes and follow-up activities would confl ict or require alignment with other
company objectives. If there is a discrepancy between what you think may be
the outcomes of the engagement and your company’s, check your organisation’s
willingness to adapt the objectives and strategy to respond to the stakeholder’s
expectation. Be aware that you can only engage on a meaningful strategic
level if your company is willing and able to reconsider its objectives and
strategies. Th is should be understood as a potential opportunity, because an
alignment of objectives and strategy with material stakeholder expectations
is one of the key benefi ts of good stakeholder engagement!
The results of Telefónica’s CSR department’s risk assessments are compiled in individual reports for every country. They then form a
basis for discussion and joint development of a strategy. An important fi rst step in this is to ensure that the CSR department’s view of
the challenges and priorities corresponds to the reality as experienced in the local context.
Defi ning the margins of movement - knowing which expectations you can
and want to meet and which expectations you can’t meet - is a key step on your
way towards developing a plan of action, and for identifying suitable stakeholder
representatives to engage with. Being clear about your margins of movement
is also important so that you and your stakeholders can be clear about the
possibilities and limitations of a stakeholder engagement process.
Th e following factors need to be considered when considering your resources
for implementing outcomes and defi ning your margins of movement:
THE PRACTITIONER'S HANDBOOK ON STAKEHOLDER ENGAGEMENT | 71