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Definition of Stakeholder Groups

Definition of Stakeholder Groups

Because of the diverse business activities of MYTILINEOS, there is a significant range of social groups which under specific conditions could be considered to be its Stakeholder groups. Such conditions could indicatively refer to groups:

  • Which the MYTILINEOS may have legal or financial obligations.
  • Which may have a negative/positive influence on or simply voice concern about the decisions and the activities of the Subsidiaries Companies?
  • Which may influence overall the Company’s capability to fulfill its commitments in connection with its operation in its internal as well as external environment? 

MYTILINEOS applies a five-stage iterative process that functions as a platform for managing relations with its key Stakeholders. The individual stages of this process, which, after a full cycle, is repeated for review purposes and for introducing improvements where required, is the following: 

  • Stage 1: Definition of Stakeholders.
  • Stage 2: Understanding of company’s individual motives for engaging in dialogue with its Stakeholders.
  • Stage 3: Definition of the subject areas and planning of the process of dialogue with the Stakeholders.
  • Stage 4: Engagement in the actual dialogue (through Dialogue Forum events) and recording Stakeholders expectations.
  • Stage 5: Actions in response to the commitments undertaken to the Stakeholders, and continuation of the dialogue.Evaluation of the results, responding to key Stakeholders expectations and maintaining dialogue. 

To this end, in 2009 we considered necessary and proceeded to conduct for the first time a formal process to define the key Stakeholder groups for our key subsidiaries. The purpose of this process was to provide our subsidiaries with the opportunity to assess and select the groups with which they could develop creative and mutually beneficial collaborations and through which they could gain access to new ideas and views concerning the best possible response to issues of responsible entrepreneurship and, by extension, of Sustainable Development. 

For each one of our key subsidiaries, its significant Stakeholder groups were obtained by means of a matrix synthesizing the following two key aspects:

  1. Examination and assessment of the level of influence of each Stakeholder group on the operation of the Company; and
  2. Investigation of the level of influence of the Company’s operation on each one of its Stakeholder group.

Stakeholder definition matrix

Diagram

Click on image to enlarge

The result of the procedure described above is presented in the following table, which lists in detail the key Stakeholder groups for each key MYTILINEOS subsidiary:

YearDescriptionFile
2015 Stakeholder Engagement PDF
2013 Stakeholder Engagement PDF
2012 Stakeholder Engagement PDF
2011 Stakeholder Engagement PDF