Trends in stakeholder engagement have moved fast in the last few years, with feedback
from stakeholder groups challenging some traditional best practice. Merely consulting
stakeholders is now not enough. An ongoing dialogue is expected. Stakeholder Engagement
is an essential priority to Edcon as key relationships and partnerships are forged
with the company and its internal and external stakeholders. All the various needs
of the customer, regulators, business partners, external influencers and the company
are established so as to mutually optimize opportunities for socio-economic growth
and development. Regular engagement opportunities are identified to maximise relationship/reputation
building and minimise risk opportunities. Stakeholders are also exposed to ongoing
communication through our website and other communication channels to keep them
informed on issues including transformation, ethics, the company mission, vision
and other company reports that are deemed important to our stakeholders.
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Authorisers
- Regulators
- Government
- Board Committee
- Shareholders How to influence on strategy
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How to influence on strategy
The licence to do business
To be perceived as a good
corporate citizen
To build on reputational trust
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Engagement annually with key stakeholders relevant to the business through one on
one dialogues, meetings and workshops. Draw up recommendation reports and encourage
feedback.
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Business Partners
- Employees
- Suppliers
- NGO’s
- Organised Business
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To be a partner of choice
To be an employer of choice
Optimise opportunities for
strategic partnerships
Gain insight into business sector approaches
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Engage through interactive surveys, communication channels, meetings, workshops,
seminars and conferences.
Draw up recommendation reports.
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External Influencers
- Media
- Special Interest Groups
- Unions
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To be relevant in servicing the
needs of society
Build on quality relationships
Gain support and leverage on common issues
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Engagement as and when necessary.
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Customers
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To identify the customer needs
and desires
To meet the necessary standard
requirements in terms of product
and price
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Engage through interactive surveys, marketing and communication channels to establish
the best results on quality service needs.
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