The value generated by TVEL Fuel Company involves not only marketable products and increase of profitability of the Company, but also a great variety of economic, social and environmental effects of activities. TVEL Fuel Company activity depends on a great number of external and internal factors, it provides for close cooperation with stakeholders
This cooperation is characterized by the fact that tangible and intangible resources used by the Company (financial, natural, manufactured, human, social and intellectual capitals*), are controlled both by TVEL Fuel Company and its stakeholders. Conversion of capitals in the course of activities is of great importance to the Company and its stakeholders.
Business model describes the activity of TVEL Fuel Company for integrated value creating as a system with circulation of employed capitals, production and business processes, products obtained, services rendered, R&D and contribution to the sustainable development of regions, and with the results recorded. The business model is aimed at achieving the strategic goals through implementation of competitive advantages, and an effective management system (due to achievement of KPI). The business model takes into account the risks typical for the activities of TVEL Fuel Company, possibilities and risk management capabilities.
* According to the International Integrated Reporting Framework “capital” means resources and relations being the sources and the results of value creation processes.
Financial Capital is the most vital in the activity of TVEL Fuel Company. Capital gains ensure current operations and promote investments thereby generating growth of other capitals used by the Fuel Company.
One of the most important factors ensuring efficient business of TVEL Fuel Company is availability of high technology base, modern equipment, machinery and materials (Manufactured Capital) that enable timely and full implementation of production plans. All the statements above reflect the Manufactured Capital of the TVEL Fuel Company.
Research and development activities (Intellectual Capital), related to improvement of the industrial-technological base and core products, have considerable impact on development of TVEL Fuel Company business and the entire nuclear industry and Russian science on the whole. New solutions provide efficiency improvement, affecting positively the financial capital, and allow investing in development of other capitals.
Priorities for the nuclear industry involve development and enhancement of personnel qualification (Human Capital). Human Capital is the key capital of TVEL Fuel Company. The Company offers competitive wages, social protection and wide possibilities for development and career growth.
The most important elements of Social and Reputation Capital are relationships in supply chain, interaction with authorities and local population in terms of development of the regions of presence, positioning of the Company in the global information space, integrated communications with different target audiences.
Natural Capital is transformed in the course of productive activities of TVEL Fuel Company. TVEL Fuel Company pays great attention to nuclear-radiation and environmental safety, and makes its contribution to address the issues of "nuclear heritage".
TVEL Fuel Company understands the sustainable development of business as an activity that satisfies not only the criteria of economic and environmental feasibility, but also the social interests of the regions of presence of its enterprises and the country as a whole.
RESOURCES
- Internal resources
- External resources
FINANCIAL CAPITAL
- Undistributed profits and monetary assets
- Accumulated reserves of TVEL FC
- Consolidated investment resources
- Industry reserves
- Means of the federal target programs
- Loans, credits, subsidies
MANUFACTURED CAPITAL
- High technology production basis
- Position in the global market of FE NFC
- Strong relations with Russian and foreign customers and suppliers
- Competitive and high quality products and services
- Raw and other materials
- Public infrastructure (roads, communication facilities, etc.)
INTELLECTUAL CAPITAL
- Intellectual property assets of TVEL FC
- Global achievements of science and engineering
- Domestic projects and national intellectual resources
HUMAN CAPITAL
- Skills, experience, competencies and capabilities of TVEL FC employees
- Knowledge management system
- Safety culture
- Experts, consultants
SOCIAL AND RELATIONSHIP CAPITAL
- Reputation of the Company and its enterprises
- Recognisable and reputable brand name
- Internal relations of TVEL FC
- Reliable interrelations in supply chain
- Initiatives of the country, Rosatom State Corporation
NATURAL CAPITAL
- Proprietary and leasable land resources
- Water consumption and energy
- Reuse of raw materials and waste, recycling materials
- Nuclear and radiation safety of TVEL FC facilities
- Ecosystem state
R&D CLUSTER
SUSTAINABLE DEVELOPMENT OF REGIONS OF OPERATION