Blue Label Telecoms Integrated Annual Report 2014

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BUSINESS MODEL
AND STRATEGIC
OBJECTIVES
LEADERSHIP GOVERNANCE
SHAREHOLDERS’
INFORMATION AND
ADMINISTRATION
OPERATING
PERFORMANCE
FINANCIAL
PERFORMANCE
BLUE LABEL INTEGRATED ANNUAL REPORT 2014 53
STAKEHOLDER
RELATIONS CONTINUED
GOVERNING STAKEHOLDER
RELATIONSHIPS
The nature of the relationships with stakeholders can
affect the Group’s reputation and therefore ability to
create value. We approach stakeholders with trust
and respect and look to them for the same mutual
good faith. A broad range of internal and external
stakeholders with a material or potential interest in,
or who are affected by us, has been identified.
We recognise the importance of identifying issues of
a shared interest, but also value the opportunity for
engagement, as it provides a unique insight into the
expectations of each stakeholder group. We apply a
measured approach to interacting with and responding
to stakeholders. A stakeholder engagement programme
has been formalised for the most relevant stakeholder
groupings. This process takes into account the impact
that each stakeholder group may have on our business,
while the frequency and form of engagement is aligned
to its estimated impact.
Some of the initiatives and methods used in the
process of engaging with stakeholders comprise
face-to-face formal or informal, individual or group
meetings (including the AGM), media and stock
exchange news announcements, presentations,
roadshows, conference calls, the Blue Label website
), investor site and
trade visits. We also rely on the results of perception
studies, reputation audits, whistle-blowing facilities
and formal grievance mechanisms, financial and
sustainability reports. In addition, we initiate
newsletters, circulars and e-mail updates, regular
customer, business partner and supplier meetings,
below- and above-the-line advertising and
marketing across various channels, formal
consultations and audit processes, and host
management and sales conferences. Dialogue,
review and feedback is encouraged wherever
possible, which in turn is presented to Exco and/or
committees, such as the Social, Ethics and
Transformation Committee, for consideration and/
or further action.
In terms of King III and the Board’s requirement
to address stakeholder management, the Board’s
approach to stakeholder engagement includes:
➔ ➔ identifying and engaging with important
stakeholders;
➔ ➔ appreciating that stakeholder perceptions affect
reputation, and therefore manage reputation risk;
➔ ➔ delegating to management the responsibility to
deal with stakeholder relationships;
➔ ➔ overseeing the mechanisms and processes for the
constructive engagement of stakeholders;
➔ ➔ disclosing stakeholder engagement in the
integrated annual report;
➔ ➔ striving to achieve a balance of stakeholders’
legitimate expectations in the best interests of the
Company; and
➔ ➔ ensuring equitable treatment of shareholders.
Ultimately, our stakeholder engagement programme
supports our efforts to be a successful, stable and
ethical company contributing to the economic growth
of the communities in which we operate.