Background

Founded in 2011, Stakeholder Relationship Assessments (SRA) has an interesting history. A year before it was formed, the founder had an interesting dialogue with The then Chief Executive Officer of IODSA who had subsequently invited him to a conference held at the IODSA for stakeholder relationships. The CEO and the founder had been tussling with how the IODSA was going to manage Chapter 8 of King III which was the stakeholder relationships.
That conference was going to have a guest from UK with whom the founder of SRA had developed a relationship after asking a question on relational proximity framework. That relationship resulted in the founder being given access to the framework from the UK for the South African market. That is when SRA was formed.

First Pilot – 2011

We decided to mobilise some local companies to test the Relational Proximity Framework we had been granted access to. We did the pilot in 2011 and in November we also presented the results to the IODSA.

It was clear that King III had not required companies to measure relationships and that is what we reported to the IODSA. The challenge was that the Board had just named the custodian of reputation and stakeholder relationships. Reputation was easy as it had drivers from Reputation Institute. But what about stakeholder relationships? What were the drivers? That is what the UK framework had begun to show.

Second Pilot – 2014

After the pilot, we proceeded to market the Relational Proximity framework. But we were faced with opposition. King III never said there should be any measurement of relationships. We managed only one company in 2012. The same thing happened in 2013. We had only 2 companies. By 2014, we decided to start our own framework. We had used a measurement of the public health system and simply changed the drivers. We called the framework, Stakeholder Relationship Capital 360™ (SRC 360™) and it had the following:

This was in 2015 and 2016. In 2017, we decided to test this statistically. The first person we approached for this was from Pretoria. He performed his test using several models and he was testing Factor Analysis and Cronbach Alphas. He came back to us and said we must increase the pillars from four (4) to six (6). We were not sure about this advice.

We thought the public health model was just spot-on. We proceeded to another University here in Johannesburg. We found there, Professor Emeritus. He tested the framework statistically and he also said we should change this to at least six (6). Well, we had two opinions from two different people and we had to change.

Third Pilot – 2017

We developed a framework which measured relationships and networks. So, we called the framework SRC 360™ V.2. Again, we took some two years for the pilot to be done up until 2019, we then visited the Professor again. He tested Factor Analysis and Cronbach Alphas as they had done previously. This time around they came back positively across all the pillars.

So, we are happy indeed to give you a profile of a company which has undergone such a rigorous process of being born.

Hear the other side

The vision is to embed stakeholder relationships

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