How can you encourage stakeholder participation in business reporting?

- Joint Business Reporting is crucial for the successful development of profitability of a partnership - Insights from the partner's perspective contribute in the creation of tailored market strategies and to meet mid term business goals - Sharing is Caring: the circulation of structured information about joint performances denotes that both parts involved are interested in the go-to-market "health" of each other to promote potential expansions, organic growth of the set KPIs and avoid churns or progressive lack of engagement in the cooperation. - To partner up means to put each other's future in secure hands: the more you know about your partner the better a relationship of mutual trust in actions taken will arise.

Identificar a los interesados no es siempre una labor fácil, requiere de una aproximación metódica a los problemas, de herramientas, datos y análisis que permitan no solo identificar a los principales, sino a cualquier colectivo impactado que tiene relevancia en el reporting. Herramientas como los mapas de calor, las redes de relaciones, los organigramas, etc nos ayudarán a la primera identificación, aunque será necesario refinar poco a poco hasta llegar a una visión completa.

In order to maintain stakeholder engagement in business reporting, it is vital to establish clear and open communication channels, as well as to set and manage expectations effectively. These practices can help ensure that all stakeholders are aligned and working towards common goals, and that reporting efforts are as efficient and productive as possible. By prioritizing these efforts and leveraging effective communication strategies, businesses and organizations can boost stakeholder engagement and drive success over the long term.

Keep stakeholders informed about activities regularly. Gather feedback and suggestions with each increment. Organize weekly meetings to discuss activities and progress. Provide meaningful reports on substance for stakeholders. Be sure to include stakeholders in the decision-making process. Always be transparent in order to build credibility. Be resourceful and provide education material to help stakeholders understand the bigger picture. By adopting these strategies stakeholders will feel more engaged and this will help drive progress forward for any initiative.

In a recent experience, a stakeholder expressed dissatisfaction as their valuable feedback appeared overlooked, leading to a perceived lack of responsiveness and feelings of marginalization. Proactively addressing the issue, I initiated a direct conversation to understand their concerns, reassured them of our commitment to meaningful feedback, and outlined steps for improved communication. By implementing a transparent feedback loop, showcasing instances where their input influenced positive changes, and emphasizing continuous improvement based on their insights, trust was rebuilt, highlighting our dedication to responsive and stakeholder-informed decision-making..

Keep in mind, what stakeholders say they want and what they actually need could be two entirely different things. The onus is on you to understand the big picture and their goals and to create reports that meet their needs.

The reporting formats should match the investors requirements. You should do the meeting proactively. They have their internal boards as well. You should define timelines and estimate the time involved in extracting each piece of information and do a trade off to not divert your internal manpower to produce a piece that will be ultimately overlooked by investors. It's better then not to waste your time and resources to create that information

As you engage stakeholders in the developement, you must also be clear in the WIIFM (what's in it for me) for each stakeholder. I have found it to be mutually beneficial when you can share expected outcomes and business impact on that particular staleholder's area of the business or project. If you show them the ROI they will be more likely to get behind and priortize the reporting.

Having identified the stakeholders the next step is to involve and engage them in the process of knowledge delivery to consumers of knowledge. It is important earn their trust and confidence otherwise the stakeholder may perceive some initiatives as a threat to themselves. However as a partner these feelings of the stakeholders should be assuaged to eschew any conflict of interests.

Focando ainda em vendas, é essencial ouvir as partes interessadas, seus clientes te darão vários insights sobre o que fazer para melhorar, porém precisa ser sempre transparente e claro com eles, com isso seu relacionamento será melhor e eles terão cada vez mais liberdade e confiança em você e na sua empresa.

Be careful with visuals; you don’t need to overload a dashboard. Pick three items to display. Bonus points if they are three different types (e.g., pie chart, bar graph).

In my experience language play a very important role as a vehicle of your ideas. Ambiguity is a killer. We must communicate with unambiguous manner. There should be a formal channel of communication for the exchange of ideas in a systematic manner and also resolve any conflict. I have found two types of conflicts among the stakeholders - conflict of ideas and conflict of personalities. The former is a little easier to handle while the latter is relatively harder to handle as compared to the former.

Uma das etapas mais importantes, a comunicação. Ela tem que ser fluida e clara, seja objetivo, mostre conhecimento do assunto, apresente sua opinião e informação sempre que a tiver, quanto mais tempo levar para passar uma informação, principalmente, uma informação que não será agradável para o cliente pior vai ser. Imagens são sempre boas para ilustrar algo que não conseguimos colocar em palavras, números são fáceis pois não tem meio termo, ou é ou não é. Lembre-se quanto mais claro você for, melhor será a relação de negócios.

Una comunicación clara y efectiva parte del uso de un lenaguaje claro y adecuado. Storytelling, y cómo presentar los datos y hechos, van a permitir que los stakeholders tengan un conocimiento mejor y más adaptado del progreso de las iniciativas y los informes. Mind-Maps, design thinking, y todos los elementos viuales que permiten una mejor comunicación y trabajo común en las ideas, se pueden utilizar para mejorar la interacción con los stakeholders.

Each investors or stakeholder has their own style. You should use those tools or that language which they are habitual to and which they can grasp easily as per their context. You should note down the pattern of questions in each meeting and come prepared with all backgrounder as well for next meeting. The inch of non confidence in your words may cause a big question in their minds about you. The meeting agenda should be decided in advance to utilize the time effectively as theu might have to catch a flight after the meeting and you may have some internal meeting. The hard stop should be defined if they or you arrived late for the meeting. One senior person should be a moderator in case of deadlock.

There are 3 key elements here: 1. Pre-read: Share the deck or document few days in advance so that they are familiar with it. You can also tag your stakeholders on relevant sections or pages. Remember to set clear agenda with topics and objective. 2. Format and communication: One thing that is taught to us in consulting is that if one just reads titles of all your slides, they should get the necessary messages. Do not put title as "what is there in the slide" but put "so what". 3. Follow up: After the presentation or sharing, send summary with key messages and next steps to stakeholders on email as well as other channels like Slack groups, teams etc.

La multicanalidad, los formatos disponibles, el uso de herramientas de comunicación asíncrona, disponer de la información en diferentes formatos y extensiones según la audiencia, ayudarán a que los diferentes stakeholders puedan tener un mejor entendimiento de los datos, y puedan tener interacciones de calidad.

Most of the published material depends on what regulatory authority wants and if not that then what you really want to showcase Company has done you should publish that. More catchy the first page is, the chances will be thst other pages will be read. You should use very simple language assuming a layman who does not have business sense of your business should be able to understand without consulting anyone else

Embrace technology and user-friendly tools: Utilize technology and user-friendly reporting tools that make it easy for stakeholders to access, understand, and interact with the reports. This can include interactive dashboards, data visualization tools, or online portals that provide real-time access to relevant information.

This can be done in a physical meeting set up to be more effective. Generally this is absent but when it comes into full action then we can call a true dialog happening in the meeting. Your reports will be drastically improved if you can get a feedback.

El feedback es fundamental, la creaciónd e encuentas dirigidas, tipo NPS, preguntas abiertas, canales de interacción y soporte, etc son elementos fundamentales a la hora de poder evaluar la información recibida y la creación de planes de mejora continua. Lo que no se puede medir, directamente no existe, y es aquí donde el feedback recibido se torna decisivo.

Una de las cosas más importantes es el feedback, curiosamente también es lo que muchas empresas todavía temen realizar. Cuidar a las partes interesadas es fundamental, siempre es necesario preguntar, cuestionar y analizar como está haciendo de ambas partes. A partir de allí, generar un plan de acción.

Incentivized stakeholders will be more willing to share useful and helpful feedback. This could be achieved by showing stakeholders at the outset how their previous contributions were not ignored but instead were highly valued and actions was accordingly implemented based on their participations and recommendations. Stakeholders want to feel like they are heard and are incentivized by ownership and autonomy although slight.

Mirroring performance for everyone: Business reporting should be reflecting company's performance rather than finance team, therefore effective actual/expected results should be a guiding path for all finance/non finance team members Every process has its relevant stakeholders , expecting required results. Business Reporting presenters should be able to ensure that every stakeholder is aware of being an integral part of it but also the company strategy won't be effective without ownership ,accountability encouraging feedback. Business Reporting should be : 1. Covering all critical indicators of company performance 2. Understandable for everyone 3. Leading its users to the areas of improvement for achieving desired results