haggar group's stakeholders engagement
CSI is about seeing business as an integral part of the community and the environment that supports it. A business does not exist in isolation; it relies on a multitude of relationships with customers, employees, suppliers, communities, investors and others—in other words, stakeholders.
The importance of stakeholders engagement is best recognised when it is lacking. Customers might see a company as unresponsive to their needs; employed persons can feel unappreciated; suppliers may have less trust in the company; local communities might be less cooperative; and investors could withdraw.
Consequently, Haggar Group has four key reasons for stakeholders engagement
Human Rights
Haggar Group integrates corporate sustainability core subjects across all its companies and various activities solidly embedding CSI measures in the Group’s governance system.
Reducing Risk
Stakeholders engagement can provide early warning on a variety of issues, such as the service or product concerns of customers, safety, human rights and environmental concerns of communities and the governance concerns of shareholders.
Driving Innovation
Stakeholders engagement can improve information flow, identify business opportunities and generate ideas.
Integrating these Elements into the Corporate Strategy
As part of the overall approach to CSI, the engagement process encourages further alignment and coherence of the business strategy. In all phases, approaches to engagement are meant to be practical and transparent.