Stakeholder Engagement
Management of Impacts on Stakeholders in the Value Chain
The group manages its business value chain to ensure that business operations are efficient and sustainable, delivering high-quality and safe products and services to customers while creating value for all stakeholders. Value chain management covers both primary activities and support activities, as follows:
Stakeholders and Key Issues of the Group
In 2024, the group analyzed and prioritized stakeholders involved in its operations by assessing both positive and negative impacts on stakeholders and the level of influence stakeholders have on the group’s operations.
The analysis found that the group has a total of eight stakeholder groups prioritized as follows: (1) Employees (2) Customers/Consumers (3) External Service Providers (4) Regulatory Agencies (5) Competitors (6) Shareholders/Investors (7) Business Partners and (8) Community and Society.
The group consistently communicates with all stakeholder groups through various channels to assess and identify issues of interest and expectations, aiming to address these expectations efficiently.
Employees
Employees
(Individuals with an employment relationship, for whom the company has legal responsibilities)
Expectations
- Appropriate and continuously growing compensation and benefits
- Protection of welfare and workplace safety
- Basic legal benefits / benefits exceeding legal requirements
- Job security and career advancement
- Opportunities for learning and self-development
- Desire for a good working environment
- Need for modern equipment/technology to reduce workload
Stakeholder Response
- Starting wage set by law and increased based on experience and performance evaluation
- Equal rights and benefits for all employees
- Knowledge and skill development plans provided
- Ensure workplace safety
- Create a positive work environment
Communication Channels
- Suggestion box
- Intranet, email, LINE, online meetings
- Announcement boards
Customers/ Consumers
Customers/ Consumers
(Individuals or entities who purchase the company’s products for business or personal purposes)
Expectations
- Profit from product sales and benefits from marketing promotions to boost sales
- Quality and safe products with truthful and useful information
- Convenient and fast communication channels
Stakeholder Response
- Sales promotion activities
- Products with certified quality standards
- Certified management systems such as ISO 9001, ISO 14001, ISO 45001, ISO 50001, ISO 22000, ISO/IEC 17025
- Product usage information is communicated to consumers on the product label as required by law
Communication Channels
- Sales representatives
- Product labeling
- Customer satisfaction surveys
- BLC letter
- Website
- Factory visits
- Telephone / LINE / Email
- Pharmacy student internships
External Service Providers
External Service Providers
(Individuals or entities supplying raw materials/equipment and services to the company)
Expectations
- Receipt of correct and consistent purchase orders
- On-time payments
- Maintain relationships with external service providers
Stakeholder Response
- Standardized purchasing criteria
- Clear payment schedule
- Feedback on service providers’ operations via online system and regular phone consultations
- Complaint channels via website and central telephone
Communication Channels
- Regular visits and listening to service providers’ opinions
- Quarterly journals
Regulatory Agencies
Regulatory Agencies
(Monitor and ensure products and operations comply with relevant laws and regulations)
Expectations
- Compliance with relevant laws and regulations
- Cooperation in agency-organized activities
- Receipt of accurate information
Stakeholder Response
- Adherence to laws and regulations of regulatory bodies
- Support for regulatory agency activities
- Assistance to regulatory bodies
Communication Channels
- Circular letters / Emails / Exhibitions
- Meetings
- Evaluation
Business Partners
Business Partners
(Entities cooperating with the company in business, exchanging information, expertise, and experience, including product research and development, potentially sharing revenue and costs over a period of time)
Expectations
- Develop cooperation with the company to achieve research within the set timeline
- Expect to extend the research for industrial production
- Gain networks, funding, membership fees, and support for association activities, as well as resources from the company within the member group
Stakeholder Response
- Have research teams and coordination for joint work
- Participate in meetings, pay membership fees, join association activities, cooperate, and exchange information
Communication Channels
- Telephone / LINE / Email
- Collaboration agreements
- Meetings
- Surveys
- Be a speaker
Community and Society
Community and Society
(Local residents in the vicinity of the business, including houses, temples, schools, markets, and government offices, who may be affected or benefit from the company’s activities)
Expectations
- Collaborate in community development, create jobs and income to ensure stability for local residents
- Require continuous support from the company
- Desire for the company to consider the environmental impact on the community
Stakeholder Response
- The company cooperates and supports community activities consistently
- Disclose environmental impact information transparently to the community
- Hire local community members
Communication Channels
- Dialogue and discussions
- Contact community representatives, such as village headman phone numbers
- Website
Shareholders/ Investors
Shareholders/Investors
(Individuals or entities holding shares in the company, with the right to express opinions on business operations and benefit from the company’s activities, including those interested in the company’s securities)
Expectations
- Accurate, transparent, and timely information to assess future business potential
Stakeholder Response
- Provide returns that meet shareholders’/investors’ expectations
- Provide direct communication channels to shareholders/investors
Communication Channels
- Organize Company visits, Opportunity Days, Analyst meetings quarterly
- Shareholder meetings
- Company website
Competitors
Competitors
(Entities importing or producing products and distributing goods in the same category or interchangeable products)
Expectations
- Fair competition
Stakeholder Response
- Cooperation to develop business capabilities
Communication Channels
- Meetings of the Thai Pharmaceutical Manufacturers Association (TPMA)
