From intergrated annual report for year ended 31 December
2021
Bell Equipment’s stakeholders are those individuals, groups and organisations that affect and are affected by Bell Equipment’s activities, products or services and associated performance. Engaging with and building relationships with its stakeholders is key to sustaining the group’s business. Bell Equipment’s key stakeholder base includes employees, customers, government departments, shareholders and financiers, communities, suppliers and alliance partners.
Bell Equipment values its stakeholder relationships and appreciates the need and responsibility to create mutual value cultivating enduring and sustainable partnerships with its stakeholders. The board retains oversight of stakeholder management, while implementation and monitoring of stakeholder engagement is devolved to the various management teams within the group. Each of the group’s operations engage with their diverse range of stakeholders based on the group’s core values of respect, honesty and integrity.
The Bell Equipment brand is the essence of who it is in the marketplace. The organisation uses its brand to differentiate itself through its people centric approach to business and by promoting the 1-BELL philosophy internally and nurturing it externally, thereby adding value to all stakeholders.
The group’s stakeholder engagement strategies, systems and processes continue to be enhanced to better understand and respond to its stakeholders’ legitimate concerns and to form collaborative partnerships to find solutions to collective challenges.
Bell Equipment’s approach to corporate sustainability has been enhanced by focusing on the six capitals and understanding the value created by the group by employing these six capitals. Through carefully identifying the interests and expectations of each key stakeholder group Bell creates value through the use of the relevant capital/s, thereby striving to ensure sustainability of its business.
1. Human capital:
determines the capacity of an organisation to accomplish its goals. Bell employees represent a rich and diverse human capital base that provides the skills, competencies, capabilities and experience that ensure the growth and sustainability of its business to deliver innovative products and services that are world class. Bell manages its human capital to ensure people’s health and safety while investing in their professional and personal growth.
2. Manufactured capital: is the investment in people, property, infrastructure, buildings, plant,production-oriented equipment, machines and tools that Bell relies on to efficiently enable the group to be flexible and responsive to customer demand in getting Bell products to market, while utilising production processes that adhere to environmental regulatory requirements.
3. Intellectual capital:
consists of the Bell brand, know how and the technical acumen of its research and development staff, the company culture and its world class systems and processes. The success Bell achieves in developing, managing and expanding its products and services is the result of the knowledge and experience of people who expertly manage the diverse interests that collectively provide innovative products and service solutions.
4. Financial capital:
is the pool of funds, obtained through financing and generated through its operations that are available to Bell for use in the production of its products and the provision of services. This capital reflects how successful Bell has been at achieving the sustainable development of its environmental, human, social and manufactured capital. Bell continues to enhance its financial capital by:
• effective
management of risk;
• corporate governance structures;
• ensuring equitable use of wealth created; and
• assessing the wider economic impact of its activities
on society.
5. Social and relationship capital:
encompasses interactions with its stakeholders, including its customers, employees, alliance partners, financiers, investors, communities, suppliers, and governments. Bell prides itself on conducting business by taking into account its legal, ethical and economic responsibilities.
6. Environmental capital:
is an input to the production of an organisation’s products and the provision of services. An organisation’s activities also impact, positively or negatively, on environmental capital. Bell is committed to the responsible use and protection of the natural environment through sustainable practices.
Engagement is an integral part of developing an understanding of Bell Equipment’s stakeholder needs, interest and expectations. Set out below are the key stakeholders with whom the group engages on a regular basis and the means of engagement. The use of six capitals in respect of stakeholder engagement is further illustrated in the following tables and information thereunder.
