Why this is important to SGS
GRI Content: G4-DMA
Economic performance was identified by SGS stakeholders as being a material issue for the Company, as defined in our 2016 Business Materiality Matrix.
Our economic performance directly influences our ability to maintain a long-term, profitable business and to distribute wealth – through salaries paid to employees, as taxes to government, as donations to charitable causes and as profit, dividend and reserves to our investors. Managing our economic performance is contingent on our ability to satisfy our customers’ needs and to understand their preferences, while upholding standards of professional excellence and effective management of our relationships with clients. Sustainability also plays a role in boosting economic performance by reducing operating costs, mitigating risk, improving brand value and increasing sales through customer trust and loyalty.
While economic value is an important indicator of financial success and the contribution to national wealth in the countries that companies operate in, companies must look beyond their economic value and take account of all the positive and negative effects that they have on society. At SGS, we recognize that stakeholders increasingly want to understand how companies reconcile financial value with the positive and negative effects that their business activities have. (See Our Value to Society for more detail on what we are doing to evaluate our wider contribution to society.)
- How We Manage Our Economic Performance
- How We Manage Our Responsible Supply Chain
- Performance on Economic Value Generated and Distributed
- Our Value to Society
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