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Listening to
Shareholders (3.8)
The suggestions, comments and
feedback provided by the
shareholders during the Annual
General Meetings are carefully
recorded and discussed in the
Board Meetings. After reviewing
the various points raised by
shareholders, the Board directs
the management to integrate the
same in its business decisions.
Besides the Annual General
Meetings, Investor Satisfaction
Surveys, meeting with investors
and Investor Grievance Cell are
other forums through which
shareholders provide
recommendations or direction to
the Board.
STAKEHOLDER
ENGAGEMENT
Identifying Key Stakeholders
(3.9)
The key stakeholders of the
organization are those who are
affected by its products,
services and activities or those
whose concerns can affect the
performance of business.
The vision
statement clearly states that
Tata Steel will continue to
improve the quality of life of
employees and the communities it
serves. The Group purpose
underscores the Tata Values on
Nation building as “our heritage
of returning to the society what
we earn evokes trust among
consumers, employees,
shareholders and communities”.
The Vision
and the Group Purpose statement
clearly delineate the basis for
identification of stakeholders
i.e. consumers, employees,
shareholders and community
(including local, national,
international, regulators,
etc.). Within each group of
stakeholders, key stakeholders
are identified based on
strategic imperatives derived
from the strategic objectives.
Approach to
Stakeholder Consultation and
Communication (3.10)
Input from stakeholders are
taken through several structured
/ formal / informal engagement
processes and considered while
setting strategic objectives of
the company. Investor surveys,
customer satisfaction surveys,
employee satisfaction surveys
and community need analysis are
also undertaken periodically.
Table-3.10 & 3.11 indicate
various forums and frequency of
consultation with key
stakeholders. |
 |
|
Table 3.10: Stakeholder Consultation - External |
|
Stakeholder |
Forum for Assessing
Requirements,
Communicating Directions
& Receiving Feedback |
Frequency |
|
Shareholders & Financial
Community |
Investors meet across
the globe; Annual
General Meetings;
Quarterly and
half-yearly reports to
Shareholders;
Updating major
Shareholders (LIC, UTI);
Shareholder Relations’
Meets; |
Annual/
As per plan/
Annual
|
|
Customer |
Customer forum; MD’s
Conference with customer
groups, Worldwide;
Visits to Customers &
CVM, RVMs; Learning from
Field Failures |
As per plan
Quarterly |
|
Suppliers & Partners |
Vendor Dialogues,
Meetings with Key
Suppliers; Vendor Meets
& Recognition, SA 8000
Audits |
Twice / year, As per
plan, Once a year |
|
External Public/ Govt. /
Media |
Meetings with
Govt./Steel
Ministry/Trade Bodies,
Industry Associations;
NGOs, Ministry for
Environment & Forests,
Press Briefings &
Releases, etc.
|
As per need |
|
Employee, Community &
Society |
Dialogues with the
employees, JDCs, JWC,
Apex Council, Senior
Citizens Forum; Spouses’
Dialogue; Uday, Joint
Community Meeting,
Community Need Analysis |
Quarterly, Twice/year,
As per plan |
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Table 3.11: Stakeholder
Consultation - Internal |
|
Communication/ Forum |
Freq.
(Nos./Yr) |
Issues Discussed |
|
MD Online |
12 |
Customer, safety, plant
performance, etc. |
|
Senior, General & Ladies
Dialogues, MCM, BE
Councils |
4 to 6 |
Vision, values,
empowerment, innovation,
continuous improvement,
performance. |
|
Dialogue with Union
Committee Members (JCCM,
JWC, and JDC) |
3,6,2 |
Performance
expectations, values,
ST/LT directions,
customer services,
market conditions,
production |
|
Departmental
Communication Meeting |
12 |
BE, improvement,
learning, training,
customers’ needs |
|
BE Facilitators Meet |
6 |
Developments in BE,
innovative ideas, launch
of new initiatives |
|
Joint Works Quality
Committee |
6 |
5S & QC activities,
safety, ergonomics,
health, EMS |
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