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Stakeholder Dialogue and Consultation

 
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A look at how stakeholders are consulted and the dialogue that takes place to create a better future.

A group of people discussing around a table in a meeting.

Stakeholder Dialogue and Consultation – A Look at How Stakeholders are Consulted

The process of stakeholder dialogue and consultation is an integral part of the decision making process that takes place before any major decision is made. It is a process of engaging stakeholders in a meaningful dialogue in order to understand their views, opinions, and potential solutions to the issues at hand. The aim of this process is to ensure that stakeholders are included in the decision making process and that their views are taken into account.

Stakeholder dialogue and consultation is an important part of creating a better future. It is a process that involves lively and constructive dialogue between the stakeholders. This dialogue is necessary in order to ensure that all stakeholders are given the opportunity to provide their input, and that their opinions are taken into consideration.

One of the most common forms of stakeholder dialogue and consultation is the consultation process that is carried out by the World Health Organization (WHO). WHO regularly consults with global experts to understand the various risks associated with various health issues, and to create strategies to reach these groups through risk communication, education, and other interventions.

Another form of stakeholder dialogue and consultation is the consultation process that is often carried out by regulatory bodies such as the Federal Trade Commission (FTC). In this process, the FTC invites stakeholders to sign up to speak through a webform. This consultation process allows stakeholders to provide their views and opinions on various matters related to the laws and regulations of the FTC. More than 100 business groups also requested the FTC extend the deadline for the submission of comments due to the complexity of the issue.

Stakeholder dialogue and consultation can also be seen in the financial markets. For example, taken together, the amendments made to the US market plumbing in 2020 were the result of a consultation process with various stakeholders. Several industry groups and stakeholders who submitted comments to the Securities and Exchange Commission (SEC) were instrumental in shaping the final outcome.

Stakeholder dialogue and consultation is also evident in the sport industry. For example, in 2020, South African Rugby Union (SARU) took the decision to suspend the Super Rugby season due to the COVID-19 pandemic. Explaining its decision, SARU said it had “listened to the opinions of important stakeholder groups” and took the step “to avoid the potential for greater disruption should the pandemic worsen”.

The US State Department is also engaging in stakeholder dialogue and consultation in order to help resolve the conflict in the Middle East. For example, in 2021, US Special Envoy Rob Malley will chair an Iran working group of the US-GCC, and the following day our senior bureau official for Middle East Affairs will host a working group with France, Germany, and the UK.

Finally, stakeholder dialogue and consultation is also occurring in the environmental sector. For example, in 2022, the Coalition to Ransomware Infrastructure (CRI) was established to combat the threat of ransomware. Throughout 2022, the CRI's efforts against ransomware were carried out by the following working groups: Resilience (co-led by Lithuania and the United States), Awareness (co-led by the United Kingdom and the European Union), and Impact (co-led by Australia and Canada).

In conclusion, stakeholder dialogue and consultation is an important process that is used to take into account the views and opinions of stakeholders in the decision making process. This process is evident in many different sectors, from health to finance to sport, and it is an important step in creating a better future for all.

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stakeholderdialogueconsultationcommitmentopinionmarketwebformrisk communicationamendment

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