At times, it can be hard to discern the role a specific proposal plays in a company's decision to implement a program.

When Best Buy began testing an in-store recycling program in 2008, it was at about the same time that the company received a shareholder proposal on the topic, but wasn't the reason for the program, according to spokesperson Kelly Groehler. "While the proposal didn't prompt our program launch," Groehler adds, "it certainly did validate that the program was a smart step for us to take."

According to its , Best Buy collected 83 million pounds of consumer electronics and 73 million pounds of old appliances for recycling in 2010. The company breaks even on the program, Groehler says.

Even tracing a company's action to a specific proposal may be difficult, says E&Y's Brockett, executives should "be prepared to respond" to shareholders. That means understanding the issues of concern in the proposals.