Sunday, October 21, 2007

Introducing Ghana Business Code

The Ghana Business Code is introduced against the background of trade liberalization, globalization and challenges and opportunities associated with it.

Ghana business, by this initiative, appreciates increased international attention on Corporate Responsibilities (CR) and the 'triple bottom line' that emphasizes performance measurement of corporate, social, environmental and economic responsibilities.

The Code represents three Ps in another sense; a unique Process, a unique Product and unique Possibilities.

The Code is the product concerted effort by multiple stakeholders ranging from large businesses, state enterprises, small and medium-sized businesses, business schools, trade and business associations, unions, financial institutions, consumer and other relevant organizations in both the public and private sectors.

What is the Ghana Business Code?

The Ghana Business Code is a series of prescriptions based on the universal principles referred to in the UN Global Compact 10 Principles, relating to human rights, labour standards, the environment, and anti-corruption.

Compliance with code of conduct is increasingly becoming a requirement in supply chain management, business match-making, business mentoring schemes, financing, national and international procurement.

The Code is intended to present best practices by adding requirement beyond core labour rights. Although, not all human rights are covered, there will be a continues process of updating and refining the Code, which will include annual revisions. The Code does not substitute sound legislation protecting the interests of employees, customers, or shareholders.

Who is it for?

The Ghana Business Code is the first code ever formulated to apply to all segments of the national business community. Continuous strong collaboration between the stakeholders is crucial for the code to become a vehicle for improved business practice to the benefit of the people of Ghana; the stakeholders are committed to establishing awards and other enforcement mechanisms.

Will the Code add value?

The Code may serve to give guidance internally in a company and it may also serve to describe to the outside world how a business as an entity behaves.

The Ghana Business Code may add value to your business in terms of:
  1. Branding opportunity to attract foreign business operations and investment into Ghana;
  2. Potential of replacing costly individual supply chain management system;
  3. Increasing your ability to attract and retain the highest qualified employees;
  4. Increasing employee motivation and loyalty and thereby productivity;
  5. Creating brand value of 'best business practice' towards consumers
It is exopected that all business comply with the laws of Ghana; where laws or specific industry codes provide for additional protection to the one prescribed by the Ghana Business Code, such as protection shall also be ensured.

Download The Code

What are your views........

source: Ghana Business Code