Phillips Law

Principles of STAKEHOLDER RELATIONSHIPS Part 2

400. The Board must, in the best interest of the company, strive to achieve an appropriate balance of interests between its various stakeholders.

401. Stakeholders should know their responsibilities towards the company and should be circumspect about making public statements that can damage its interests.

402. The gap between stakeholder perceptions and the performance of the company should be measured and managed in order to enhance and protect corporate reputation.

403. The Board should bear in mind that the interests of stakeholders in the company are dynamic and subject to change.

404. Corporate transparency should be considered with reference to the company’s stakeholder policies, relevant legal requirements, and the maintenance of the company’s competitive advantage including the need to protect the company’s intellectual property and preserve the company’s commercially sensitive information.

405. Communication between the Board and stakeholders should be transparent and effective in order to build and maintain stakeholder trust and confidence in the company.

 

  • According to the NATIONAL CODE ON CORPORATE GOVERNANCE ZIMBABWE