This time we are joined by Andrew Hobbs, Partner & Public Policy Leader at Ernst & Young for Europe, Middle East, India and Africa. And this episode we talk about stakeholder capitalism.
Stakeholder capitalism is not a new term, but the term is evolving and is in some ways also being re-defined. As we discuss in this episode, stakeholder capitalism includes focus on creating long-term value not only for shareholders but also for customers, suppliers, employees, communities etc. We talk about why this is important and maybe even necessary to avoid or minimize the damages if you get into trouble as a company and how it can help you in war-time.
Andrew shares his views on what E&Y has learned and how they approach stakeholder capitalism. And he gives a few pieces of advice for Public Affairs professionals and how you gain trust internally and externally and finally how you get leaders involved in the PA work (including stakeholder capitalism).