Edcon: Stakeholder Relations

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.

Stakeholders	Relevance	Process
Authorisers Regulators Government Board Committee Shareholders How to influence on strategy	How to influence on strategy The licence to do business To be perceived as a good corporate citizen To build on reputational trust	Engagement annually with key stakeholders relevant to the business through one on one dialogues, meetings and workshops. Draw up recommendation reports and encourage feedback.
Business Partners Employees Suppliers NGO’s Organised Business	To be a partner of choice To be an employer of choice Optimise opportunities for strategic partnerships Gain insight into business sector approaches	Engage through interactive surveys, communication channels, meetings, workshops, seminars and conferences. Draw up recommendation reports.
External Influencers Media Special Interest Groups Unions	To be relevant in servicing the needs of society Build on quality relationships Gain support and leverage on common issues.	Engagement as and when necessary.
Customers All LSM groups	To identify the customer needs and desires To meet the necessary standard requirements in terms of product and price	Engage through interactive surveys, marketing and communication channels to establish the best results on quality service needs.