While New Zealand enjoys a high ranking internationally on such matters we tend to take it for granted and trade on our good reputation. As a result, insufficient consideration is made in the board room when our supply chains involve other countries.
Directors are well served by the principles of best practice and code of practice in the Institute of Director’s Four Pillars of Effective Governance. When considering practice outside of New Zealand, directors should refer to ISO 26000, the guidance standard for social responsibility. Developed by representatives from 110 countries it provides the internationally agreed minimum accepted standards across 7 core principles;
With the improved connectedness of today’s world, and increasing use of complex global supply chains, directors must be more mindful of internationally accepted standards in addition to New Zealand best practice principles.
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