Stephanie, the Executive Vice President of Corporate Relations at Diageo North America, discusses the importance of building partnerships for positive change in a recent article. She emphasizes the value of defining materiality and focusing on social issues where credibility lies, while recognizing the need for collaboration with external stakeholders and unconventional coalitions within the communities one operates in.
To drive a successful partnerships strategy, Stephanie outlines four key considerations. Firstly, she advises defining goals and engaging potential partners transparently and on equal footing, taking into account organizational goals, conducting materiality assessments, and listening to stakeholders. Secondly, establishing a plan for measuring shared goals is essential, including clear targets, KPIs, and consistent reporting. Thirdly, understanding consumer trust and communication preferences is crucial for developing meaningful partnerships.
Stephanie cites the Multicultural Consortium for Responsible Drinking (MCRD) as an example of effective partnership building at Diageo North America. The MCRD serves as a safe space for dialogue on responsible alcohol consumption with influential leaders from Black, Latino, and Native American communities. By engaging in open, honest conversations and exchanging best practices and educational resources, the MCRD has reached over 1.6 million people with messages of moderation.
In celebrating success and setting goals for the future, Stephanie believes in creating a space for partners to reflect on accomplishments and find inspiration to build on initial successes. Diageo regularly brings partners together for reflection and teambuilding, emphasizing the importance of shared goals and measuring success.
Stephanie hopes that these insights can serve as a useful tool for companies looking to leverage their resources to create a stronger society. As a member of the Forbes Business Council, Stephanie is committed to fostering growth and networking opportunities for business owners and leaders. Companies that align with these principles may qualify for membership in the organization.
