Strategic frameworkStakeholder Engagement
We give high priority to a constructive and proactive dialogue with our stakeholders in order to shape our strategic framework and deliver value to the stakeholders. We acknowledge our corporate responsibility and that is why we emphatically seek to connect with our clients, supervisors, public authorities, knowledge institutions, regulators and civil society organizations.
Materiality and UN Sustainable Development Goals
Our stakeholders have also been involved in defining materiality for EY NL. A materiality analysis is an important aspect of an integrated report. It identifies the aspects that influence EY’s ability to create value for its stakeholders in the short, medium and long term. We use the results of the materiality analysis as a reporting framework, as a guide for our strategic decision-making and as a source of dialogue with our stakeholders. Moreover, the material topics have been linked to the UN Sustainable Development Goals (SDGs) in order to monitor our contribution to the SDGs and advance sustainable development.
Business Model of Value Creation
The material topics define the financial and non-financial aspects on which we can optimize our long term value-creation. The value drivers (capital inputs) make an essential contribution to EY’s success. Through our business model these inputs (resources) are transformed into various outputs: the results of our actions. This does not depend solely on EY (the internal environment) itself but also on external environment. Through the efficient use of our resources we create value for ourselves and our stakeholders (impact). It illustrates how we are commited to building a better working world.
Vision 2020 Ambition & Strategy, Priorities & Indicators and Results
Building on our business model of value creation, our Vision 2020 ambition and strategy are based on the three pillars of Markets, Talent and Operations. Strategic priorities and performance indicators are fomulated to track and optimize our results, so we can meet our commitments and deliver value.
Risk Management Framework
The EY Global Quality Risk Management function (QRM) owns our risk management methodology and processes. In this framework all risk types are identified to provide an integrated view on EY’s risk profile. With our Risk Management Framework we seek to provide reasonable assurance that the Vision 2020 ambition can be achieved and our obligations to our clients, employees and society can be met.
The figure below shows the relation between the elements of our strategic framework, which are elaborated upon in this chapter.