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Mission and stakeholders





                           Governance and ethics




               3.1  Impact of governance on strategy                      In P3 we are interested in the
                                                                          strategic impact of these areas
                          greater scrutiny                               rather than the technical
                                                                          elements tested in P1
                          more pressure to be seen as in control

                          more risk aversion

                          must consider wider group of stakeholders

                          more attractive to finance providers.


               3.2  Strategic benefits of acting ethically


                          differentiates (but it adds costs and can be easily copied)

                          more attractive to investors, suppliers and staff

                          fewer non-compliance costs/fines (but there is no guarantee of this and it
                           is complicated for international businesses).


               3.3  Integrated reporting

                          combines traditional financial and strategic reporting to the mission and
                           CSFs

                          should provide a broader view of performance.




























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