(Robyn)
:Welcome to “Behind the Scene Businesses”, today we will having a look at Mr Price to see how they stretch beyond expectations in terms of their Corporate Governance and Corporate Social Responsibility.
We first investigated Mr Price’s Corporate Governance by assessing how their management’s system of rules, practices and processes controls the business responsibly by adhering to the King Code which ensures integrity, accountability fairness, independence and discipline within the business as well as creating both social and environmental sustainability. This helps the business to minimise corruption, develop its brand, achieve corporate success and encourages economic growth.
All of these aspects apply to Mr Price according to their King Code 3 Compliance Report. Apart from being involved in many sustainability projects, Mr Price’s management ensures that business practices are being carried out ethically and sustainably with the aim of creating true value for their shareholders. Mr Price has also earned the status of a Responsible Corporate Citizen in light of their financial aspects and the impacts they have on the environment and society. Their secret is that they use a dashboard to track issues that may occur in the business due to economic, social and environmental problems. To handle these issues before or when they occur, Mr Price has a Social, Ethics, Transformation and Sustainability Committee in place. A further step towards good Corporate Governance that Mr Price has taken is to bring the board together at least 4 times per year to discuss how business should be carried out according to the principles set in place. There are countless steps taken within the business to achieve Good Governance but to name just a few: A Remuneration and Nomination Committee is in place to overlook and implement benefits, incentives, rewards …show more content…
Their vision is to become a top performing international retailer, while their purpose is to add value to their customer’s lives and worth to their partner’s lives, whilst caring for the communities and environments in which they operate.
We can clearly see simply from their vision and purpose that MRP is really passionate about bringing value to their customer’s lives by always going the extra mile for them.
This is also shown in their CSR towards the community. As we know CSR stands for Corporate Social Responsibility, in essence the business taking responsibility for the impact that the business’ activities have on their customers, employees, shareholders, communities as well as the environment. It is deliberate voluntary steps taken by the business to improve the quality of life for its stakeholders.
Mr Price Foundation Group supports the national priorities of SA through its donations to the MRP Foundation. The investment is 1% from net profit after taxation. The aim of the foundation programmes responds to socio-economic challenges including: poverty, unemployment, poor education and focuses on the skill gap of people who left school before matriculating. There are three MRP programmes which …show more content…
The programme currently operates in 8 provinces and 282 schools and aims to establish sustainable structures which encourages all learners to participate in regular physical activity and school sport on a weekly basis by providing the required equipment. This allows students to keep healthy and develop a passion and hobby for physical activity which is also important for the development of the mind and social presense. Mr Price has achieved sustainable development through this project as they ensure its continuance through implementing a 3 year skills coaching plan which is offered to the
:Welcome to “Behind the Scene Businesses”, today we will having a look at Mr Price to see how they stretch beyond expectations in terms of their Corporate Governance and Corporate Social Responsibility.
We first investigated Mr Price’s Corporate Governance by assessing how their management’s system of rules, practices and processes controls the business responsibly by adhering to the King Code which ensures integrity, accountability fairness, independence and discipline within the business as well as creating both social and environmental sustainability. This helps the business to minimise corruption, develop its brand, achieve corporate success and encourages economic growth.
All of these aspects apply to Mr Price according to their King Code 3 Compliance Report. Apart from being involved in many sustainability projects, Mr Price’s management ensures that business practices are being carried out ethically and sustainably with the aim of creating true value for their shareholders. Mr Price has also earned the status of a Responsible Corporate Citizen in light of their financial aspects and the impacts they have on the environment and society. Their secret is that they use a dashboard to track issues that may occur in the business due to economic, social and environmental problems. To handle these issues before or when they occur, Mr Price has a Social, Ethics, Transformation and Sustainability Committee in place. A further step towards good Corporate Governance that Mr Price has taken is to bring the board together at least 4 times per year to discuss how business should be carried out according to the principles set in place. There are countless steps taken within the business to achieve Good Governance but to name just a few: A Remuneration and Nomination Committee is in place to overlook and implement benefits, incentives, rewards …show more content…
Their vision is to become a top performing international retailer, while their purpose is to add value to their customer’s lives and worth to their partner’s lives, whilst caring for the communities and environments in which they operate.
We can clearly see simply from their vision and purpose that MRP is really passionate about bringing value to their customer’s lives by always going the extra mile for them.
This is also shown in their CSR towards the community. As we know CSR stands for Corporate Social Responsibility, in essence the business taking responsibility for the impact that the business’ activities have on their customers, employees, shareholders, communities as well as the environment. It is deliberate voluntary steps taken by the business to improve the quality of life for its stakeholders.
Mr Price Foundation Group supports the national priorities of SA through its donations to the MRP Foundation. The investment is 1% from net profit after taxation. The aim of the foundation programmes responds to socio-economic challenges including: poverty, unemployment, poor education and focuses on the skill gap of people who left school before matriculating. There are three MRP programmes which …show more content…
The programme currently operates in 8 provinces and 282 schools and aims to establish sustainable structures which encourages all learners to participate in regular physical activity and school sport on a weekly basis by providing the required equipment. This allows students to keep healthy and develop a passion and hobby for physical activity which is also important for the development of the mind and social presense. Mr Price has achieved sustainable development through this project as they ensure its continuance through implementing a 3 year skills coaching plan which is offered to the