Explain the concept of stakeholder inclusiveness.

Stakeholder Inclusiveness means that the reporting organization should identify its stakeholders and explain in its report how it has responded to their reasonable expectations and interests. Since the stakeholders for an organization are scattered and there may be variation in their expectation and interest, stakeholder engagement processes can serve as tools for understanding the reasonable expectations and interests of stakeholders. Organizations typically initiate different types of stakeholder engagement as part of their regular activities, which can provide useful inputs for decisions on reporting. Stakeholder engagement is an alliance-building tool. Corporations practice stakeholder engagement in an effort to understand the needs of their stakeholders, create partnerships and to promote dialogue. Stakeholder engagement identifies stakeholders, assesses stakeholder needs, develops stakeholder relations plans and forms alliances with stakeholders. Stakeholder engagement leads to increased transparency, responsiveness, compliance, organizational learning, quality management, accountability and sustainability. Stakeholder engagement is a central feature of sustainability performance. The GRI guidance requires organisation to document the stakeholder engagement processes. Stakeholder engagement is undertaken for numerous reasons which include: Improved corporate responsibility and financial performance across the globe. To avoid conflict through negotiation, mediation and collaborative learning. Development of a shared vision to direct future business decisions and operations. To innovate through collaboration. Corporations are often confronted with the difficulty of balancing competing or opposing stakeholder needs or demands. The success of stakeholder engagement is initially dependent upon the quality of stakeholder analysis.