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9781783530557

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A masterful template for how to run a successful corporate affairs department in pursuit of a 'social licence to operate'. -- Adrian Henriques In a world of viral digital media, external stakeholders can dramatically influence corporate reputations, dramatically impacting shareholder value. In his informative new book, Corporate Diplomacy, author Witold Henisz - Deloitte & Touche Professor of Management at The University of Pennsylvania's Wharton School - outlines the competitive need for a strategic integration of stakeholder-facing functions, to create value for society as well as shareholders. In the book, Henisz highlights six elements of corporate diplomacy. He uses a series of case studies to illustrate the challenges facing corporate stakeholder-engagement practitioners, whose value is often underappreciated, and offers helpful tools and guidance for how practitioners can bolster their influence and better communicate their value in bottom-line numbers. The world needs corporate diplomats now, more than ever, to build the bridges needed to harness market forces that can drive systemic, positive change. Relationships do matter. Companies that excel in prioritizing the right strategic relationships and nurturing them well, will more likely win in a competitive marketplace At Future 500 - where we practice stakeholder engagement between corporations and NGOs and the right and the left - Henisz's book captures immense wisdom, balancing a scientific, analytical approach with an understanding of the importance of behavioral dynamics. -- Erik Wohlgemuth, COO of Future 500 Sustainable Brands The author Witold J. Henisz has included myriad perspectives and experiences of industry practitioners in this book. It is a useful guide on how to manage the collective opinion of external stakeholders in a business and will be of interest to senior and middle management professionals interested in influencing the opinions of stakeholders and looking to learn from shared experiences. The book provides a practical approach to managing stakeholders' opinions in an organisation. The introductory chapter has an interesting case study of an American firm that decides to enter Georgia- a country grappling with multiple issues. The author has used this case to epitomize the challenges faced by high profile multinational companies. With this background, he has given his interpretation of how to assimilate different stakeholder engagement in an organisation in order to minimize failures and lead a company to sustained growth. The corporate diplomacy framework in the book integrates various management functions and gives corporate diplomats tools to increase their effectiveness and status within their companies. It describes the how to of winning hearts and minds of a mostly detached set of stakeholders, proactive reputation building and reactive reputation management and repair. The captivating stories of corporate success and failures make the book an interesting read. It concludes with the author's own list of twelve common traps that hinder the development of desired level of capability. In short, Witold J. Henisz has given a fascinating and fresh insight into smart stakeholder engagement by managing the analytical and behavioural elements of diplomacy. -- Sasmita Maurya CSR International Book Review Digest A useful guide on how to manage the collective opinion of external stakeholders in a business... In short, Witold J. Henisz has given a fascinating and fresh insight into smart stakeholder engagement by managing the analytical and behavioural elements of diplomacy. -- Sasmita Maurya CSR International Book Review Digest

A useful guide on how to manage the collective opinion of external stakeholders in a business... In short, Witold J. Henisz has given a fascinating and fresh insight into smart stakeholder engagement by managing the analytical and behavioural elements of diplomacy. -- Sasmita Maurya CSR International Book Review Digest A masterful template for how to run a successful corporate affairs department in pursuit of a 'social licence to operate'. -- Adrian Henriques

In Corporate Diplomacy, Witold Henisz draws from years of experience in the trenches - and he shares his insights in colorful stories about companies around the world who succeed or fail depending on their ability to engage with their stakeholders. The story of the privatization of power supply in the post-communist Republic of Georgia reads like a thriller and does not provide easy answers. But drawing from this and other experiences, Henisz develops a comprehensive and practical approach to guide those tasked with corporate diplomacy in their work. This book is full of concrete approaches that can help companies improve their interactions with various stakeholders. And it shows clearly that for sustained success, it is not enough to look inside the organization, improving production and internal processes. A company that fails to engage in corporate diplomacy risks angering their neighbors, regulators and other stakeholders - who can severely damage the organization and in the worst case, drive it into bankruptcy. - Eva Schiffer, The World Bank

A masterful template for how to run a successful corporate affairs department in pursuit of a 'social licence to operate'. - Adrian Henriques | | A useful guide on how to manage the collective opinion of external stakeholders in a business... In short, Witold J. Henisz has given a fascinating and fresh insight into smart stakeholder engagement by managing the analytical and behavioural elements of diplomacy. - CSR International Book Review Digest - Sasmita Maurya

A masterful template for how to run a successful corporate affairs department in pursuit of a 'social licence to operate'. -- Adrian Henriques In a world of viral digital media, external stakeholders can dramatically influence corporate reputations, dramatically impacting shareholder value. In his informative new book, Corporate Diplomacy, author Witold Henisz - Deloitte & Touche Professor of Management at The University of Pennsylvania's Wharton School - outlines the competitive need for a strategic integration of stakeholder-facing functions, to create value for society as well as shareholders. In the book, Henisz highlights six elements of corporate diplomacy. He uses a series of case studies to illustrate the challenges facing corporate stakeholder-engagement practitioners, whose value is often underappreciated, and offers helpful tools and guidance for how practitioners can bolster their influence and better communicate their value in bottom-line numbers. The world needs corporate diplomats now, more than ever, to build the bridges needed to harness market forces that can drive systemic, positive change. Relationships do matter. Companies that excel in prioritizing the right strategic relationships and nurturing them well, will more likely win in a competitive marketplace At Future 500 - where we practice stakeholder engagement between corporations and NGOs and the right and the left - Henisz's book captures immense wisdom, balancing a scientific, analytical approach with an understanding of the importance of behavioral dynamics. -- Erik Wohlgemuth, COO of Future 500 Sustainable Brands

Author Information

WITOLD J. HENISZ is the Deloitte & Touche Professor of Management in Honor of Russell E. Palmer, former Managing Director at The Wharton School of The University of Pennsylvania.

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