Grape King

Stakeholder Negotiation

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Communicating with the Stakeholders 【Read More】

Sustainable development is a goal of Grape King Bio. To achieve this goal, we must understand the needs, expectations, and beliefs of various stakeholders. We therefore established a transparent and effective communication channel to constantly collect feedback from both daily business activities and from our stakeholders, providing immediate response where possible. Such feedback is also used as a reference and basis to formulate CSR policies and relevant plans.

Stakeholder Negotiation Process

The negotiation process can be divided into 3 major phases of Stakeholder identification, Materiality analysis, Key issues confirmation and Communication.

Stakeholder Identification

The CSR Committee has identified, after discussing issues relevant to the definitions of stakeholders, a total of 9 classes of primary stakeholders. They are; employees, customers, suppliers, shareholders / investors, non-profit organizations (NPOs), government, neighboring communities, academia, and mass media. Various communication channels have been established to collect feedback from these stakeholders.

Identifying stakeholders

Materiality Analysis

Grape King Bio has adopted a proactive approach and issues survey forms to the identified stakeholders. The completed surveys are then compiled to analyze the topics of interest provided by stakeholders according to the level of concern. These topics are then ranked by the level of impact to the company in order to select and define key topics of interest.

Materiality Matrix

We sent surveys to our important external stakeholders and collected a total of 192 valid responses. Item weights and rankings were calculated according to their level of impact on the company, and 12 key issues were selected for this year. Each unit integrates these key issues into annual plans and routine business management along with the previously identified issues of concern, and periodically evaluates implementation performance to facilitate continuous improvement.