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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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