Stakeholders have always mattered to a company. However, in an age of increasing transparency, any stakeholder — including many that may not have been considered stakeholders a few years ago — can act, and many do. How stakeholders view a company, what they expect of the company, and how they understand the company’s impact on society and the environment matters to business value. A growing number of shareholders agree. For example, mining companies have seen positive community relations make a significant difference in their financial valuations, emerging as a key factor of production alongside investments in capital and labor. Today, a broader range of stakeholders are raising the bar on business performance.