Principles and practice A commitment to developing and maintaining relationships with stakeholders has implications for the principles and practices of everyone within a business. This means, establishing principles that guide everyone to: 1. Understand the of all parties—customers, suppliers, partners Engage respectfully and fairly with existing and potential customers; • Accept advice on how to improve the engagement of the business with the market; and • Regularly talk with customers to take checks” on the relationship. • “health 2. Articulate a position and agree goals that deliver mutual benefit Communicate with stakeholders regularly on a face-to-face basis; • Honour all operating conditions, guided by an appropriately binding contract; and • Avoid entering stakeholder agreements that are not based on mutual trust or benefit. • 3. Meet obligations and act ethically and early to resolve disputes Be aware of and abide by all relevant regulatory and legislative requirements; • Follow through on commitments and promises without hesitation, particularly making payments promptly; • and Consider the long-term, when choosing between competing actions. • A (Stephen Cartwright, NSW Business Chamber) Aldi considers it is committed to developing and sustaining mutually beneficial relationships with all stakeholders. Tom Daunt, CEO of Aldi encourages staff and management to go back on deals’ ‘Not and through on what you say’. ‘follow At Aldi, this is evident through: Consistency and transparency in all business dealings. Aldi fosters a culture throughout all levels of the • organisation where staff and leaders follow through on their promises and do not renege on their commitments.
Principles and practice A commitment to developing and maintaining relationships with stakeholders has implications for the principles and practices of everyone within a business. This means, establishing principles that guide everyone to: 1. Understand the of all parties—customers, suppliers, partners • Engage respectfully and fairly with existing and potential customers; • Accept advice on how to improve the engagement of the business with the market; and • Regularly talk with customers to take “health checks” on the relationship. 2. Articulate a position and agree goals that deliver mutual benefit • Communicate with stakeholders regularly on a face-to-face basis; • Honour all operating conditions, guided by an appropriately binding contract; and • Avoid entering stakeholder agreements that are not based on mutual trust or benefit. 3. Meet obligations and act ethically and early to resolve disputes • Be aware of and abide by all relevant regulatory and legislative requirements; • Follow through on commitments and promises without hesitation, particularly making payments promptly; and • Consider the long-term, when choosing between competing actions. A (Stephen Cartwright, NSW Business Chamber) Aldi considers it is committed to developing and sustaining mutually beneficial relationships with all stakeholders. Tom Daunt, CEO of Aldi encourages staff and management to ‘Not go back on deals’ and ‘follow through on what you say’. At Aldi, this is evident through: • Consistency and transparency in all business dealings. Aldi fosters a culture throughout all levels of the organisation where staff and leaders follow through on their promises and do not renege on their commitments.
ASBC_Business_Leaders_WORD_NEW.docx