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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Featured Pathways

More pathways

Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Book a demo

Pricing

Ready to get started?

Plans & Membership

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

More featured content

Book a demo

Pricing

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Book a demo

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Identifying and Engaging Stakeholders

Identifying and Engaging Stakeholders

Namhla Saba

15 years: Chartered Accountant & ESG Specialist

How do you find your stakeholders? And more to the point, how do you decide which stakeholders to prioritise? Join Namhla Saba as she explores this.

How do you find your stakeholders? And more to the point, how do you decide which stakeholders to prioritise? Join Namhla Saba as she explores this.

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Identifying and Engaging Stakeholders

19 mins

Key learning objectives:

  • Outline how to identify your stakeholders

  • Understand how to prioritise your stakeholders

  • Identify how to engage your stakeholders

Overview:

Stakeholders are characterised by their relationship in relation to the organisation. Despite being grouped together, stakeholders are individuals with specific needs and demands. Stakeholders can be prioritised according to their level of business influence or expertise and their interest in the industry, the community, or the environment. Identifying proactive areas of engagement ahead of time allows organisations to start catering in small doses to their stakeholders' needs while planning for formal engagements, which can be time-consuming.

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Summary
How do you identify your stakeholders?

1. Identify
Stakeholders are characterised by their relationship in relation to the organisation; namely internal or external stakeholders. The difference between internal and external stakeholders is whether that stakeholder is directly or indirectly affected by an organisation’s activities. Despite being grouped together, stakeholders are individuals with specific needs and demands. They also may straddle different groups, meaning one stakeholder may be an internal stakeholder in one scenario and an external stakeholder in another scenario.

2. Analyse
Identifying proactive areas of engagement ahead of time allows organisations to start catering in small doses to their stakeholders' needs while planning for formal engagements, which can be time-consuming. An ability to cater to stakeholders' needs in advance, no matter how inconsequential, fosters trust, confidence and buy-in.  

What are the main considerations boards or organisations can consider when determining their critical shareholders?
1. Stakeholder must be critical to the strategic objectives and sustainability
2. Can the stakeholder affect operations?
3. Can the stakeholder negatively influence material stakeholders?
4. Can the stakeholder add a tangible and intangible significant value?
5. Can the stakeholder be easily replaced?

How do you prioritise your stakeholders?
Stakeholders can be prioritised according to their level of business influence or expertise and their interest in the industry, the community, or the environment.
– As a top priority, these stakeholders have high influence and high interest and should be managed closely.
– As a low priority, these stakeholders have low influence and low interest and should be monitored.
– As needing to be handled with care, these stakeholders have high influence and low interest and should be kept informed.
– As needing help to participate, these stakeholders have low influence and high interest and should be kept satisfied.

How do you engage stakeholders?
1. Engaging to inform
This engagement objective is a one-way communication style focused on educating stakeholders on the ongoings of an organisation. For example, organisations engage with their stakeholders such as shareholders through annual financial reports, or website communication or media releases.

2. Engaging to consult
This engagement objective is to gain data from the stakeholders to inform internal discussions.

3. Engaging to involve
This engagement objective is about working directly with multiple stakeholders to ensure that issues and concerns in a particular area are understood and considered. This engagement is a multi-way communication where learning takes place on both sides.

4. Engaging to collaborate
This engagement objective is to partner with stakeholders to develop mutually beneficial solutions and a joint action plan. This engagement style is two-way, where learning, negotiation and decision-making occur on both sides.

5. Engaging to empower
This engagement objective is to delegate decision-making to the stakeholders on an issue. This engagement style equips stakeholders to be able to contribute to the achievement of their desired outcomes.

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Namhla Saba

Namhla Saba

Namhla Saba, Founder and Director of a firm advising corporations, funds, and NPOs on ESG and social development, has over 15 years of experience in social and governance issues across sectors like financial services, mining, and infrastructure. She leads community stakeholder engagement projects for clients seeking to maintain their "social license to operate" in developing markets like South Africa, bridging relational and information gaps between corporations, employees, customers, and communities.

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