Publication

Involving Stakeholders in the Risk Governance Process

2020
Reports

Abstract

Stakeholder involvement is a necessary part of risk governance, especially when there is uncertainty or ambiguity concerning a risk. Efforts to assess, evaluate, manage and communicate the risk must account for the perceptions, concerns and opinions of stakeholders. This is just as necessary as the technical assessment of risk, or the risk management methods and tools themselves. The present document focusses primarily on the reasoning behind engaging stakeholders, while providing some general principles on how to involve stakeholders. It concludes by drawing attention to the major benefits and challenges of involving stakeholders in an appropriate manner.

Official source

https://infoscience.epfl.ch/entities/publication/80f3f2a7-6a73-4f36-9c03-8d6c90ad60ab

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2020
Reports

Abstract

Official source

https://infoscience.epfl.ch/entities/publication/80f3f2a7-6a73-4f36-9c03-8d6c90ad60ab

About this result

Related concepts (22)

Multistakeholder governance

Multistakeholder governance is a practice of governance that employs bringing multiple stakeholders together to participate in dialogue, decision making, and implementation of responses to jointly perceived problems. The principle behind such a structure is that if enough input is provided by multiple types of actors involved in a question, the eventual consensual decision gains more legitimacy, and can be more effectively implemented than a traditional state-based response.

Stakeholder theory

The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. It addresses morals and values in managing an organization, such as those related to corporate social responsibility, market economy, and social contract theory. The stakeholder view of strategy integrates a resource-based view and a market-based view, and adds a socio-political level.

Stakeholder (corporate)

In a corporation, a stakeholder is a member of "groups without whose support the organization would cease to exist", as defined in the first usage of the word in a 1963 internal memorandum at the Stanford Research Institute. The theory was later developed and championed by R. Edward Freeman in the 1980s. Since then it has gained wide acceptance in business practice and in theorizing relating to strategic management, corporate governance, business purpose and corporate social responsibility (CSR).

Related publications (4)

Involving Stakeholders in the Risk Governance Process

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Levels of 48 pesticides in vegetables and water and evaluation of health risk resulting from dietary intake in gardening areas in Burkina Faso

Risk-based approach to the determination of optimal interventions for bridges affected by multiple hazards

Event Risk, Contingent Claims and the Temporal Resolution of Uncertainty