This article focuses on how Japanese companies can put the philosophy that benefits sellers, buyers and society into practice by identifying whom to engage with, determining how to use their views, and linking them to management decisions. It organizes and explains the current state of dialogue and how it can be used in practice.
The philosophy that benefits sellers, buyers and society emphasizes a balance among the interests of the seller, the buyer and society, and is considered an established principle in modern corporate management as well. At the same time, it has been pointed out that stakeholder engagement in practice requires a clear framework for identifying whom companies should engage with. The article presents cases in which companies already engage in dialogue with local communities, customers and employees, but have not established, on a company-wide basis, whom to engage with or which views to incorporate into management.
Structuring “whom to engage with”