The Directors of THE7STARS UK LIMITED, as those of all UK companies, must act in accordance with a set of general duties. These duties are detailed in section 172 of the UK Companies Act 2006 which is summarised as follows:
A director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole and, in doing so have regard (amongst other matters) to:
· The likely consequences of any decisions in the long term,
· The interests of the company’s employees,
· The need to foster the company’s business relationships with suppliers, customers and others,
· The impact of the company’s operations on the community and environment,
· The desirability of the company maintaining a reputation for high standards of business conduct,
· The need to act fairly as between shareholders of the company.
As part of their induction, a Director is briefed on their duties so that they can fulfil their duties. As the Board of Directors, our intention is to behave responsibly and ensure that management operate the business in a responsible manner, operating within the high standards of business conduct.
As Directors we fulfil our duties as follows: –
We effectively identify, evaluate, manage and mitigate the risk we face.
The management team has identified some factors as major potential risks normally associated with media agencies in dynamic and changing markets. Some, such as innovation, quality service, staffing, are specific risks that require specific, identified actions to mitigate their effects. Others, such as the impact of competition, are areas addressed through strategic planning and operational management processes.
THE7STARS UK LIMITED is committed to being a responsible business. Our behaviour is aligned with the expectations of our people. People are at the heart of our services. We aim to be a responsible employer in our approach to the pay and benefits our employees receive. The health, safety and wellbeing of our employees is one of our primary considerations in the way we do business.
For our growth, we develop and maintain strong client relationships. We value all of our suppliers and have long-standing association with our key suppliers.
COMMUNITY AND ENVIRONMENT
Our plans take into account the impact of the company’s operations on the community, environment and our wider social responsibilities. The Company’s approach is to use its position of strength to create positive change for the people and communities with which it interacts.
THE7STARS UK LIMITED is proud of its record of managing employee relations and believes that the structure of individual and collective consultation and negotiation is best developed at a local level. Over the years, THE7STARS UK LIMITED has been proactive in providing employees with information on matters of concern to them as employees and employee feedback is invited. There is the use of internal communications and presentations by senior management team to all employees in the company. These mechanisms ensure employees’ views are considered in decision-making and that they have a common awareness of Company strategy, matters of concern to them and the financial and economic factors affecting the performance of the Company. Participation by staff in the success of the Group is encouraged by the availability of bonus arrangements for senior management, which effectively aligns their interests with those of shareholders by requiring that Company-level financial performance criteria are achieved.