Stakeholder capitalism sits at the heart of Marico's business vision, strategy and responsible growth story.
It defines our purpose and accelerates our impact creation potential such that we are able to make a difference in the lives of all stakeholders who inspire us to survive and thrive.
Using our Sustainability 2.0 framework as a lever, we revisited our engagement strategies with each of our critical stakeholder groups to validate whether our interventions are adding direct value in addressing the key needs.
Our aim is to safeguard our stakeholders interests and futureproof the value delivered to each one of them, over short, medium and long term. We believe that by prioritising our stakeholders' needs, we will create symbiotic bonds built on trust, resilience, agility and responsible growth.
Planet
Does our stakeholder ecosystem
demonstrate environmental
responsibility for its critical actions?
Prosperity
Do our actions fulfil the
interest and aspirations
our key stakeholders?
Principles of Governance
Are we embedding accountability,
trust and stewardship in our
decision-making process?
People
Are we fostering dignity, equality,
diversity and social inclusion in
our way of doing business?
CAPITALS
Unique Value Proposition
Definition
With our uncompromising quality, trusted brands and product innovations, we endeavour to provide a unique value proposition to our consumers. Our brands differentiate themselves across the core and aspirational market segments. We strive to bring innovation in every facet of our operations, while ensuring the availability of products at the right time and for the right price.
Consistent shareholder value creation remains our topmost priority. This is achieved by strengthening our core segments and achieving growth in niche markets through our innovation and entrepreneurial approach. Our value creation potential with shareholders has led to a steady focus on maximising volumes, market share gains and cost optimisation, despite the pandemic-induced market slowdown, availability of resources and other macro headwinds.
As a responsible organisation, Marico believes that mutual and inclusive growth of our value-chain partners is critical to the overall purpose of creating shared value. We strive to maintain the right balance by meeting the needs of our partners through continuous capacity enhancement drives, proactive engagement and timely response strategies. As part of our mission to drive inclusive growth across our stakeholder ecosystem, we strive to play a significant role in the growth stories of our value-chain partners.
At Marico, we offer all our members a defined talent value proposition to challenge, enrich and fulfill their aspirations, so that they can maximise their true potential to make a difference. Further, our values are based on the principles of 'go beyond', 'grow beyond' and 'be the impact' which enable our human capital to bring purpose to work. The cultures of diversity, equality and inclusion are the forerunning guiding principles for any initiative that we take for our members.
Communities influence and inspire our existence and hence we strive to touch their lives in every possible way so as to make a difference. To safeguard our communities from the socio-economic and health-related disruptions caused by the pandemic, we try to maximise our efforts in helping our communities sustain and thrive in these changing times.
Marico is committed to be a leading consumer goods company that meets and exceeds compliance and regulatory mandates towards its products and processes.
Material Needs
Engagement Objective
Mode of Engagement
Frequency
Continuous
Quarterly, Half-yearly, Annually (Note: Financial calendar)
Continuous
Continuous, Half-yearly, Annually
Continuous
Need-based
Capital Linkages