The South African guideline for the application of good corporate governance
practices, namely “King III Reports”, has stipulated that the quality and strength of
all Stakeholder Relationships be a matter for Board consideration in its discharge
of its responsibilities.
Stakeholder Relationship Assessments (Pty) Ltd [“SRA”] in collaboration with the
Institute of Directors South Africa (the editors and custodians of King III) submit
that there be a need for one widely accepted process, methodology and
language for the measurement and reporting of Stakeholder Relationships, that
firstly, a Board of Directors can understand uniformly across the spectrum of
Industries and Organsiations, and secondly, that can also be understood by the
users of Annual Reports.
Collaboration with Relationships Global [“RG”](a UK based organization) has
resulted in the establishment of a solution that meets that need.
Before the solution be introduced to the South African market, SRA together with
RG have invited SA’s most influential companies to participate in:
- Assessing the Intellectual Property as introduced by RG, known as “Relational Proximity”,
- Consider its working in the South African environment and context,
- Applying the Intellectual Property of Relational Proximity to its own Stakeholders as a “stress test” to assess applicability and scalability, and the quality of the information gleaned from the results
- Confirm that the process and methodology address the King III requirements adequately
- Have the opportunity to incorporate enhancements that the company feels would add value to the solution.
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