Phillips Law

Principles of STAKEHOLDER RELATIONSHIPS

395. The legal rights and legitimate expectations of the company’s stakeholders should be identified, recognized, respected and promoted in the course of creating wealth and jobs and sustaining a financially sound business enterprise.

396. Corporate actions should take into account stakeholder and societal interests.

397. There should be constructive engagement between a company and all its stakeholders as well as among the stakeholders themselves.

398. The Board should appreciate that stakeholder perceptions affect a company’s reputation. Reputation is based on how well a company performs having regard to the legitimate interests and expectations of stakeholders.

399. A company must ensure that all its stakeholders are treated fairly and equitably.

 

  • According to the NATIONAL CODE ON CORPORATE GOVERNANCE ZIMBABWE