Our four key strategic objectives are:
- Protecting the health and safety of our people
- Creating a high-performance culture
- Maintaining our licence to operate
- Driving profitability
Formulating our four key strategic objectives was not done in a vacuum; they were developed by consistently answering the questions: what are the most material issues our company must address if we are to create value into the future while meeting the terms of our mission and subscribing consistently to our values? And: what are the issues that matter most to our stakeholders? Interrogating our material issues is an ongoing process that analyses our many, varied opportunities, risks, strengths, weaknesses, challenges and the concerns and interests of our stakeholders.
Stakeholder inclusiveness is central to determining our most material issues. This engagement happens through formal platforms ( pages 6 to 8) which deal directly with stakeholder engagement. Explicit and perceived stakeholder concerns are regularly reported to the executive committee for consideration, while the company’s policies and actions are reported to stakeholders for input.
In addition to the concerns of stakeholders, we consider the macro-economic, political, social and legislative environments in which we operate and do business, as well as the risk register which is informed by our ongoing enterprise risk management systems and overseen by the audit and risk committee.
This combined approach helps us to develop a comprehensive picture of the various issues facing the company. We determine the relative materiality of these issues according to their importance to our stakeholders and whether they present serious risks and/or material business opportunities.
This year we determined that our material issues were not substantially different to those reported in the integrated report of 2013. These issues are:
- Health and safety of our people
- Focus on our customers
- Being environmentally responsible
- Optimising our industrial footprint
- Eliminating excessive raw material costs
- Improving supplier efficiencies
- Engaging meaningfully with communities
- Engaging with government
- Improving operational efficiencies
- Improving our B-BBEE compliance