Stakeholder Engagement: A Green Business Model Indicator

Green business models have the potential to deliver a much better performance compared to the conventional business models in this age of sustainability. Stakeholder engagement is considered one of the key elements to help facilitate an increased uptake of green business models. There is limited research available on principles and mechanisms to enhance stakeholder engagement. This paper aims to investigate principles for engaging stakeholder in the context of the UK construction industry as a means towards achieving a green business model transformation. Qualitative research was used to investigate the practice of stakeholder engagement with 19 managers and academics in the construction sector. Semi- structured interviews were conducted with these professionals and thematic analysis was used to identify themes that display effective stakeholder engagement practice. The findings suggest that stakeholder engagement is a driver contributing towards an organizations success and it can help green business models implementation. Practices, of stakeholders engagement, emerge from the data include: top level support; staff empowerment; incentive and reward; collaboration; effective communication; understanding clients need; being proactive; interacting early with clients; building relationships; partnering; and matching or facilitating different services. Organizations’ ability to interact and engage with stakeholder will be a major game changer on the competition environment. Thus, competencies around stakeholders’ engagement will be a high priority in the future.