The system of rules, practices and procedures by which a business is directed and controlled.
It essentially involves balancing the interests of a business’s many stakeholders, including shareholders, owners, management, employees, customers, suppliers, financiers, government and the community.
This may include policies on:
- ethical trading
- social responsibility and
- carbon reduction.
Dealing with such things as:
- regulatory compliance e.g. the Provision of Services Regulations;
- supplier payments and
- credit control and debt management including late or non-payment of invoices.
