Residential Estate Industry Journal 4 - Page 29

GOVERNANCE ZIMBALI COASTAL RESORT Fairness The systems that exist within the company must be balanced in taking into account all those that have an interest in the company and its future. The rights of various groups have to be acknowledged and respected. “All decisions taken, processes used, and their implementation will not be allowed to create unfair advantage to any one particular party.” Social responsibility A well-managed company will be aware of, and respond to, social issues, placing a high priority on ethical standards. A good corporate citizen is increasingly seen as one who is non-discriminatory, non-exploitative, and responsible with regard to environmental and human rights issues. A company is likely to experience indirect economic benefits such as improved productivity and corporate reputation by taking those factors into consideration. COTSWOLD DOWNS GOLF AND LIFESTYLE ESTATE THE RIGHTS OF VARIOUS GROUPS HAVE TO BE ACKNOWLEDGED AND RESPECTED CROSSWAYS FARM VILLAGE PAGE 27