In his new book, Corporate Diplomacy: Building Reputations and Relationships with External Stakeholders, Wharton management professor Witold Henisz advises senior managers to build the capability to strategically develop their most important relationships — before it’s too late. In an interview with Wharton management professor Stephen J. Kobrin, Henisz explains how to determine who are the most important stakeholders to focus on and how to avoid the mistakes made by companies that have lost more than $100 million by failing to develop relationships with external stakeholders. To view, click here