Decisions of the Board take into account not just short-term, but also medium and long-term consequences, which are carefully considered and balanced, having regard to the sometimes conflicting needs and priorities of the business, its customers, partners, employees and other stakeholders.
The Directors’ report and Strategic report set out in greater detail the Group’s policy towards its employees. Value is created through motivated employees, who are of central important to the success of the Group, and the directors believe that the culture and core values create an environment for engaged and successful employees
The success of the Group depends on strategic relationships with key partners, customers and suppliers, so the Board maintains ongoing oversight of these. Monthly management packs report to the Board on the status of key relationships, which have Board-level engagement from an operational perspective. Performance is constantly monitored, and customer feedback continuously captured through regular account meetings, which are always attended by management-level, and often director-level, representatives.
The Group has, through the recruitment of professional employees, maintained and demonstrated a high standard of business conduct, be that in dealings with employee, customers, suppliers, regulatory authorities or any other stakeholders to the business.
The Group supports local charities across the various offices to support local community efforts. Its efforts on minimising the carbon impact from its activities is commented upon on the energy and carbon reporting above.
The competing needs of the various stakeholders of the Group are monitored and reviewed at management and Board level. Where conflicting needs arise, advice is sought from the wider Board and, as necessary, from trusted external advisors. Through the careful balancing of these needs, the Group seeks to promote success for the long-term benefit of all stakeholders.
Bionical Limited.