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Regulatory frameworks are evolving to place consumers at the heart of decision-making. "Excellence in Consumer Engagement: 10 Fundamentals" explores the shift from traditional regulatory processes—where decisions were imposed on consumers—to a model where consumers actively influence outcomes. The paper identifies 10 key principles that drive successful engagement, including the importance of social license, leadership commitment, and setting the right incentives. Through case studies and real-world examples, it highlights both the risks of poor engagement and the benefits of genuine collaboration. This guide serves as a resource for regulators, businesses, and policymakers looking to enhance consumer participation in regulatory decision-making.
The landscape of consumer engagement in regulation has undergone a significant transformation, moving from a model where consumers had little influence to one where they play a central role in shaping decisions. This paper presents 10 fundamental principles that underpin effective consumer engagement, including commitment from leadership, social license, and consumer empowerment. It examines both successful and failed approaches to engagement, drawing lessons from key case studies such as the Powerlink Queensland electricity transmission decision and Australia’s banking and energy sector reforms. The study also explores the regulatory incentives that encourage engagement, from reputational benefits to financial rewards. By implementing these principles, businesses and regulators can foster trust, improve regulatory outcomes, and create a more balanced and consumer-centric decision-making process.
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