Page 4 - 5.2 i. Manac Finance ITC Summarised Notes

STRATEGY AND GOVERNANCE

NG
Goal of an entity

• The goal of any entity is to create sustainable long-term
shareholder wealth

• taking into account the impact on all other stakeholders
(employees, suppliers, lenders, government, customers, the natural

environment and society).

• Globalisation (which has lead to increased competition), fast

changing technology, the global credit crisis, climate change
and diminishing natural resources have all contributed to

the complexity of the business environment.

• If a company does not have a clear strategy, mission &
vision (and a good understanding of the business

environment) they are not likely to succeed in creating

sustainable value for all stakeholders.

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