|
|
|
|
|
Information
generated by Stakeholder
Consultations (3.11)
Types of information generated
by stakeholder consultations are
summarized in Table-3.12
 |
|
Table 3.12 : Information
from Stakeholders |
|
Stakeholder |
Information Generated |
|
Shareholders |
• |
Overall performance and
its implication on
market capitalization
and creation of
shareholder value. |
|
Customers |
• |
User needs, customer
satisfaction, product
quality and
functionality. |
|
Supplier |
• |
Identification of areas
with conflicting goals,
payment, material
rejects and supplier
satisfaction. |
|
Employees |
• |
Employee Satisfaction,
suggestions for
improvement in product
quality, social welfare
and business excellence,
professional growth,
health and safety and
quality of life. |
|
Community |
• |
The needs of community,
women empowerment,
employment generation,
environment and quality
of life. |
|
External Public &
Government |
• |
Requirement under
statutes, compliance
status, threats to
business and license to
operate. |
|
|
|
|
Use of information from
stakeholders (3.12)
The feedback received from
stakeholders forms one of the
significant inputs to the
strategic plan development and
the consequent strategic
objective setting. Figure 3.2
indicates the process for
utilization of information
received from stakeholders. |
|
 |
|
Table 3.13
describes the areas where
stakeholder inputs are used
|
|
|
Table 3.13: Use of Stakeholders Information |
|
Stakeholder |
Use of Information |
|
Shareholders & Financial
Analysts |
• |
Objective & Target
settings, investment
decisions,
diversifications/ merger
/acquisition, company
perception with
analysis, emerging
strategic issue
identification. |
|
Customers |
• |
Product improvement,
product development,
customer retention,
market penetration,
emerging demand scenario
and price sentiments,
development of short and
long term business
plans, identification of
customer related issues. |
|
Suppliers |
• |
Fine tuning of vendor
rating and vendor
evaluation procedure,
vendor relationship
management. |
|
Employees |
• |
Employee Satisfaction
Index & Corporate
Citizenship Index,
identification of
employee related issues. |
|
Community |
• |
Plan for development of
community in the areas
of forestry, irrigation,
women empowerment,
income generation,
health, hygiene, etc.
and identification of
key societal issues. |
|
External Public & |
• |
Management programs for
compliance and resource
conservation, management
programs for community
development. |
Government
Media & Other |
• |
Perception of the
company, external
environment & business
news issues identified. |
|
|
|
|
OVERARCHING POLICIES AND
MANAGEMENT SYSTEMS
Following the path of precautionary approach
(3.13)
A precautionary approach is the underlying
spirit of every policy or guideline
formulated at Tata Steel. This is clearly
visible in Clause#1 and Clause#8 of the Tata
Code of Conduct, which deals with National
Interest and Health, Safety & Environment
respectively (refer Annexure-II).
The merit of every
proposed activity, project or process is
evaluated for financial performance,
environmental and social performance before
adoption. Environmental impact assessments
are carried out for all projects to be
implemented and necessary environmental
management plans are integrated in the
project to internalize the cost. Life Cycle
Assessment is regularly carried out for
integrated iron and steel making route. The
outputs |
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