Phillips Law

Recommendations of STAKEHOLDER RELATIONSHIPS Part 5

427. The Board should guard against processes which frustrate or block constructive engagement with stakeholders, for instance by continually compelling stakeholders to resort to the courts for the resolution of disputes.

428. In addition to formal processes such as annual general meetings, the Board should consider informal processes such as direct contacts, websites, advertising or press releases as means of interacting with stakeholders.

429. The Board should disclose in its integrated report the nature of its dealings with its stakeholders and the outcomes of those dealings.

430. Subject to the best interests of the company, reasonable steps necessary to maintain the confidence of stakeholders should always be taken when considering their legitimate interests and expectations.

431. In dealing with stakeholder differences, conflicts or disagreements, alternative dispute resolution mechanisms should be used and litigation should be used only as a last resort.

  • According to the NATIONAL CODE ON CORPORATE GOVERNANCE ZIMBABWE