The Stakeholder Balance Sheet: Profiting from Really Understanding Your Market New Edition
Author(s): Farrokh Suntook (Author), John A. Murphy (Author)
Publisher: John Wiley & Sons
Publication Date: 24 Oct. 2008
Edition: New
Language: English
Print length: 334 pages
ISBN-10: 0470712163
ISBN-13: 9780470712160
Book Description
This book provides an as yet unavailable tool, the Stakeholder Balance Sheet, enabling managers within any organisation to unlock the DNA of the market place in which they operate and to measure their effectiveness in understanding their markets and all the key stakeholders operating within them. This simple tool provides self-testing checklists at the end of each chapter that enables managers to look at stakeholder-sensitive issues in the same way that they might scrutinise financial statements (hence it will not seem alien to most managers). A review of how well your organisation has fared on the questions will tell you how healthy your “balance sheet” is in relation to the topic of each chapter, and it will provide you with the basis for an overall enterprise balance sheet that aggregates the scores you have achieved in each topic area. Lessons to learn from application of the Stakeholder Balance Sheet are: What appropriate tools are still required to enhance their understanding of the market place, and how these should be utilised How to maximise commercial success through understanding the market place And, find effective ways of being a truly stakeholder-sensitive enterprise In a nutshell, a genuine understanding of how customers and other stakeholders think, feel and behave offers the essential starting point for any general manager – not just the marketing or sales specialist – seeking to determine the direction of his organisation. For the purpose of the book, stakeholders are described as: the direct stakeholders in the market place – customers and prospects (including both the key contacts with whom you interface and others who may influence the final decisions made); the internal stakeholders – staff; other external stakeholders – pressure groups, local community, government, intermediaries, banks, etc. “My 40 years of international business experience would completely endorse this total focus on the stakeholder balance sheet.” – Sir Peter Bonfield CBE FREng, Chairman of NXP Supervisory Board and formerly CEO of BT Group plc and ICL plc ” The Stakeholder Balance Sheet is an excellent and highly practical framework…This book is a must-read for decision makers in any organization, regardless of level or function.” – Professor Sharan Jagpal, Professor of Marketing, Rutgers Business School & author of Fusion for Profit
Editorial Reviews
Review
“A validation of the centrality of stakeholder theory in modern business management” (Ethical Corporation Magazine, November 2008) “…supported by well-illustrated graphics and relevant case studies…fascinating insights…provides practical advice…well written and easy to read.” (B2B Marketing, January 2009) “Well-researched, comprehensive and challenging, this book clearly sets out the benefits of a holistic, joined-up approach” (The Marketer, February 2009) ‘This is a wide-ranging sales book, in which information is systematically presented.’ (UK Excellence, 2010)
From the Back Cover
In a relentlessly competitive environment, the general manager – whether a director or any senior/middle manager who may not have a specific market-facing responsibility – cannot afford the luxury of leaving the business of understanding customers and other stakeholders entirely in the hands of the “experts”.
No responsible CEO will say “as long as my CFO tells me that the revenue and profit situation is fine, I really don’t need to look at my company’s balance sheet and income statement”. Equally, the general manager who genuinely wishes to drive a market-centric organisation should not feel content to leave the analysis of the “stakeholder balance sheet” entirely in the hands of the specialists in marketing, pr, investor relations or customer analysis.
This highly practical book enables any practicing manager not only to develop the market insights that will strengthen their position in the market place, but to really profit from this understanding.
TheStakeholder Balance Sheet presents a tool which has to the best of our knowledge so far not been available, enabling organizations to unlock the DNA of the market place in which they operate and to measure their effectiveness in understanding their markets and the key stakeholders operating within them.
This hugely practical book presents self-testing checklists at the end of each chapter that enable managers to score themselves on “stakeholder-sensitive issues” in the same way that they might assess their financial performance by scrutinising financial statements. A review of how well your organisation has fared on the questions will tell you how healthy your “balance sheet” is.
Lessons to learn from application of the Stakeholder Balance Sheet include:
How to maximise commercial success through understanding the market place.
What appropriate tools are required by organisations to enhance their understanding of the market place, and how these should be utilised.
What are effective ways of being a truly stakeholder-sensitive enterprise.
In a nutshell, a genuine understanding of how customers and other stakeholders think, feel and behave offers the essential starting point for any general manager – not just the marketing or sales specialist – seeking to determine the direction of his organisation.
About the Author
Farrokh Suntook has been running his own consultancy and executive coaching service since 2006. The focus of his consultancy is to help clients develop market insights for action planning designed to strengthen their position in the market place. Prior to this Farrokh had over thirty year’s experience, mostly in business development and marketing research consultancy undertaken for a range of blue chip multinational companies. His assignments covered topics ranging from market segmentation and product development to market drivers and customer loyalty. Over the years these topics have also been the subject of articles, international conference papers and in-house seminars and workshops which he has led. Farrokh has a BSc(Econ) from the London School of Economics and an MBA from the Columbia Business School in New York. He is a member of the CIM Learning & Development faculty. Dr John A Murphy, Telefonica O2 Professor of Customer Management and Head of Corporate Relations at Manchester Business School, combines the roles of academic and international consultant, specialising in customer management and service quality. He has held a series of senior management positions both in Ireland and the UK. At Manchester Business School he has established a unique cohort of PhD scholarship students in conjunction with leading UK companies. This is the largest doctoral research group in this specialist area in Europe. He is a regular contributor to the programmes at the MBS Executive Development Centre. He chairs and directs the Customer Management Leadership Group. John holds four professional fellowships and is a member of the International Academy for Quality, whose members are chosen from the most active protagonists of quality in the world. He is the author of five books, the most recent of which, Converting Customer Value: From Retention to Profit , was published in 2006.
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