Friday, January 3, 2014

Businesses That View Competitors as Stakeholders

Are competitors also stakeholders? In my previous posts, I've answered yes, because competitors both influence and are influenced by the organization's actions and decisions.

Now, here's why four big global businesses view competitors as stakeholders--in their own words.
Pirelli's stakeholders and dimensions of value
  • Petrobras, a major Brazilian-based energy company, definitely counts competitors among its stakeholders. Its reasoning: "Competitors are considered stakeholders because of the mutual influences among the parties, a flow that is critical to business, to the economy, and to society. In a few scenarios, competitors can even be business partners.
  • Pirelli, the tire company, also views competitors as stakeholders, "because improved customer service and market position depend on fair competition." In other words, consumers interact with Pirelli in the context of other industry players. Above is Pirelli's graphic depiction of the dimensions of value, including the influence of competitors.
  • Walmart, Earth's biggest retailer, sees competitors as stakeholders, at least as far as sustainability initiatives are concerned: "We actively support industry efforts to drive sustainability in consumer goods supply chains. These efforts, like The Sustainability Consortium, Retail Industry Leaders Association and Consumer Goods Forum, allow us to collaborate with and engage our suppliers and competitors in industry-wide sustainability initiatives."
  • Telecom Italia has an entire web page devoted to explaining its relations with competitors. The corporation's business entities "promote and participate in initiatives and projects with competitors, as well as in technical round tables and activities organized by trade associations," in the interest of fair business dealings, consumers, and everyone involved.

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