Define your code of conduct and business principles responsibly

Identify your core stakeholders and their needs

A stakeholder is any person/group/institution etc. which affects or is affected by your operations and activities in any form (positively or negatively). Look around you and see how different people/groups are affected by your corporation, your products/services and your activities. See what their needs are and try to address these accordingly. Be open when engaging with your stakeholders. Show what you are doing and be open to discuss any issues. That helps you avoiding bad feedback. If serious criticism arises, be honest and solve the issues together with your partners.

Your code of conduct and any policies or business principles that you might have should include directives for conducting business in a responsible way. When drafting a code of conduct and business principles for your company, take into account the expectations of your stakeholders, especially employees, and engage them in the development of your code of conduct. You should also anticipate the potential risks to your company and how they can be minimized with the help of a code of conduct and business principles. Your policies and your code of conduct should be clear, short and easily understandable.

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