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Category: Business and Industry
Date Submitted: 10/07/2013 06:01 AM
DJC NEL, 17467667
BIS
2013
SURNAME: Nel INITIALS: DJC STUDENT NUMBER: 17467667
E-MAIL ADDRESS: danielnelmba@gmail.com CONTACT NUMBER: 0725449553
SUBJECT: Business in Society NUMBER OF PAGES (excluding this page): DUE DATE: 2 September 2013 LECTURER: Daniel Malan GROUP: MBA FT 2013
OFFICE USE ONLY
DATE RECEIVED:
DJC NEL, 17467667
BIS
2013
King III and ethics summary of Shoprite Holdings Limited
Corporate governance report: The board of directors, namely “the Board” of Shoprite Holdings Limited, also known as “Shoprite Holdings or the Group” do state that they make an effort to execute high corporate governance, integrity and ethics in order to contribute towards being a sustainable group of companies. This will contribute towards facilitating long term shareholder value and will enhance the all-over return for all stakeholders that form part of the Group. In order for the Group to be successful they decided embrace the importance of being social and corporate responsible.
Corporate governance, corporate responsibility and business ethics that falls under sustainability have become more and more important over the years. In order to be sustainable one need to adhere to governance expectations and other stakeholders expectations. The Group have decided that they will maintain a well-balanced outlook in order to achieve and maintain successfulness as a Group. The Group also said in their yearly sustainability report that they are ultimately responsible to meet governance standards throughout. They have the buy in and support from senior management and this will assist in achieving good corporate governance processes and structures, sustainable growth and return that will ultimately assure the best interest for all stakeholders.
The Group have started their implementation of the King report on Governance for South Africa in 2009 (King III). They conducted an independent assessment on the Group. The standards are governed by the...