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Today we see industries in transformation looking for new business models and value cases to create new possibilities and future success for the organization. Startups and Innovators are successfully challenging the incumbent with their disruptive ideas and next-gen business models. This leads to the need to reinvent and to accelerate their transformation. A fundamental change of the purpose is required in many cases. This has an enormous impact on their operations and on the way they collaborate and communicate with their stakeholders. A complex process – and this complexity will increase in the coming years because of cross-industry transformation. Collaboration will drive us forward.

Existing roles and responsibilities will change, while society itself will transform and become fully transparent. Today, people expect organizations to contribute to society, to behave sustainably and ethically. They expect organizations to be fair in the way they do business. Successful products and services and sound financial performance are no longer the only things that matter. Organizations have to perform great on all their dimensions. So from a societal, economical and technological perspective, there is a growing urgency for organizations to align with the interests of all their stakeholders and to adjust to the values of a transparent society.

Transformations impact your stakeholder settings. The existing relationship might be under pressure or ready for a different approach. It is clear that transformations demand new relationships with new stakeholders that might be out of scope today, but that are relevant for future success. It is key to continuously take your stakeholders interest into account because transparency means that everybody’s voice can be heard all the time by all the people. This makes it crucial for every single organization to manage their stakeholder setting carefully.

Having a constant dialogue with your stakeholders will help you to stay in control of your reputation and to accelerate the implementation of your strategy. Only organizations and brands with a solid integrated stakeholder strategy will be able to create a meaningful and winning position in society.