United Utilities • Integrated Report • Business model

• Value creation
• Connectivity of information
• Stakeholder relationships

Key observations:

The stakeholder discussion, which is an integral part of the business model section, clearly sets out the organisation’s key stakeholder groups, and the short-term and long-term value created for each group in a simple table format (Section 3C of the International <IR> Framework). The same section uses icons to highlight how each stakeholder group is aligned with relevant strategic themes (Section 3B). Also, the report discloses a broad set of performance measures covering aspects that corresponds with the interests of its stakeholder groups, reflecting how the organisation has responded to stakeholder needs and interests.