Companies tend to adopt different ways for determining 'materiality'. But what works and what doesn't? How do we know whether addressing an issue is a cost overrun for companies if at the end of the day stakeholders don't really care about it?
Depends on the perspective. From a financial stakeholder perspective the emphasis goes on profit/liquidity/market value maximization. From an environmentalist's perspective to minimization of negative env. impacts. So, suggestively, one starts with stakeholder mapping using traditional tools to classify stakeholders according to their power/urgency/legitimacy, then sets priorities on how to tackle the pending issues, considering the optimal efficiency of the available choices according to the preset criteria. Finally s/he focuses on how to publish the whole effort 9assuming that it can be used as a marketing tool). I believe that further clarifications can be pursued only on an ad hoc basis
I supposed the heart of the debate is when you have conflicting needs from different stakeholders (profit maximisation versus going above and beyond in sustainability initiatives). It becomes really tricky. Was just wondering if any studies have been done to explore this trade-off.
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