· Risks and opportunities
- Value creation
As aligned with the view that “an integrated report identifies the key risks and opportunities that are specific to the organization” (International <IR> Framework, para. 4.24) and that the organisation should assess their likelihood, magnitude and impacts (International <IR> Framework, para. 4.25) , in the section on “Risks and opportunities, assurance and controls” of its Integrated Report Eskom illustrates through a graph and narratives how the strategy development process integrates also risk management. Then, the specific risks to the organisation (strategic, business and disaster) are briefly described. A table summarises these risks, their impacts on capitals, the associated risk rating, the impact on value creation, the timeframe and the related treatment/mitigation strategy. The process followed in order to identify opportunities is also outlined. In particular, a ‘structured stage-gate’ process through which opportunities are identified, developed and prioritised is concisely illustrated. According to this process, only those ideas that have the potential and highest chance of success are developed to avoid resources waste.