Satisfying Global Stakeholders in a Polarising World

In a (business) world that is becoming increasingly polarised, companies must be able to effectively satisfy the demands and needs of global stakeholders, who each have their own opinions and needs. Businesses have to identify and address these differences to build solid, lasting relationships with their stakeholders. When operating in different countries, companies need to balance national interests with global cooperation. In a polarised world, countries may prioritise their interests over working collaboratively with others. Examples of such issues include: trade frictions, the war in Ukraine or the corona crisis. Companies will need to make an informed decision between becoming autonomous and producing certain products themselves or importing these products. In such decisions, satisfying the different visions of all stakeholders is an ever-increasing challenge.

Effectively satisfying global stakeholders includes understanding cultural differences and being open to different perspectives. Additionally, companies must be able to use data and analytics to inform their decisions and create strategies that will enable them to satisfy the needs of their stakeholders. Such external pressures exert other internal forces on corporate leaders. Corporate leaders have to weigh the effects that certain actions have on the objectives of stakeholders. They may have to balance, given the risks, near- and long-term market priorities. What strategies can leaders incorporate to effectively satisfy the demands and needs of global stakeholders? How can companies ensure that their actions align with the visions of their stakeholders?