Our six capitals
Our ability to create long-term sustainable value for stakeholders
depends on the use of various capitals within our business. The
International Integrated Reporting
Financial
Human
Manufactured
Social and relationship
Intellectual
Natural
Our key stakeholders
The Group is committed to open and constructive engagement with all our stakeholders. Our business model and strategy are designed to consider and address the issues and concerns most relevant to our key stakeholders. Refer to the "Engaging with our stakeholders" section on pages 38 to 41 for more information.
Customers
Community
Employees
Suppliers
Franchisees
Shareholders
Our business acceleration pillars
The second stage of our strategic long-term plan is organised around seven business acceleration pillars. These pillars represent the material growth opportunities that can materially affect our ability to create value over the short, medium and long term. Refer to our "Strategic focus" section on pages 44 to 51 for more information.
Better for customers
A flexible and winning estate
Efficient and effective operations
Every product, every day
A winning team
Boxer–
a national brand
Rest of Africa – a second engine of growth
OUR PROCESS FOR DETERMINING MATERIALITY, MATERIAL ISSUES, RISKS AND OPPORTUNITIES
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The Group agreed that all material matters identified in 2017 remained relevant for the 2018 financial year. The opportunities identified per material matter demonstrate how the risks are being mitigated, and where possible, are viewed as growth opportunities for the Group through its strategic long-term plan.
In the 2018 financial period, the following matters were considered to be material for the Group:
These material matters are discussed in more detail below of this report.
For more information on the capitals, key stakeholders and business acceleration pillars impacted or informed by our material issues, risks and opportunities, please refer to page 5 of this report.
Pick n Pay was proud to be recognised by The Institute for Risk Management South Africa (IRMSA) for its outstanding contribution to risk management.
Our group risk and assurance services team – which reports directly to the audit, risk and compliance committee – scooped the award in the wholesale and retail category for its role in developing, implementing and driving an integrated combined assurance programme across the Group. The programme has improved the visibility, transparency and reporting of all material risks, developed appropriate action plans for effective risk mitigation and risk monitoring, and improved operational efficiency through the management of interdependencies and the realignment of resources.
