The Caux Round Table's (CRT) Stakeholders Management Guidelines supplement the CRT Principles, for Responsible Business with more specific standards, for engaging with key stakeholder constituencies. Who are these stakeh

The Caux Round Table's (CRT) Stakeholder Management Guidelines supplement the CRT Principles for Responsible Business with more specific standards for engaging with key stakeholder constituencies. The key stakeholder constituencies are those who contribute to the success and sustainability of business enterprise. Customers provide cash flow by purchasing goods and services; employees produce the goods and services sold; owners and other investors provide funds for the business; suppliers provide vital resources; competitors provide efficient markets; communities provide social capital and operational security for the business; and the environment provides natural resources and other essential conditions. In turn, key stakeholders are dependent on business for their well-being and prosperity. They are the beneficiaries of ethical business practices. Customers: A responsible business treats its customers with respect and dignity. Business therefore has a responsibility to: Provide customers with the highest quality products and services consistent with their requirements. Treat customers fairly in all aspects of business transactions, including providing a high level of service and remedies for product or service problems or dissatisfaction. Ensure that the health and safety of customers are protected. Protect customers from harmful environmental impacts of products and services. Respect the human rights, dignity and the culture of customers in the way products and services are offered, marketed, and advertised. Employees: A responsible business treats every employee with dignity and respects their interests. Business therefore has a responsibility to: Provide jobs and compensation that contribute to improved living standards Provide working conditions that protect each employee's health and safety. Provide working conditions that enhance each employee's well-being as citizens, family members, and capable and caring individuals Be open and honest with employees in sharing information, limited only by legal and competitive constraints. ej Listen to employees and act in good faith on employee complaints and issues. Avoid discriminatory practices and provide equal treatment, opportunity and pay in areas such as gender, age, race, and religion. Support the employment of differently-abled people in places of work where they can be productive. Encourage and assist all employees in developing relevant skills and knowledge. Be sensitive to the impacts of unemployment and work with governments, employee groups and other agencies in addressing any employee dislocations. Ensure that all executive compensation and incentives further the achievement of long-term wealth creation, reward prudent risk management, and discourage excessive risk taking. Avoid illicit or abusive child labor practices. Shareholders: A responsible business acts with care and loyalty towards its shareholders and in good faith for the best interests of the corporation. Business therefore has a responsibility to: Apply professional and diligent management in order to secure fair, sustainable and competitive returns on shareholder investments. Disclose relevant information to shareholders, subject only to legal requirements and competitive constraints. Conserve, protect, and increase shareholder wealth. Respect shareholder views, complaints, and formal resolutions. Suppliers: A responsible business treats its suppliers and subcontractors with fairness, truthfulness and mutual respect. Business therefore has a responsibility to: Pursue fairness and truthfulness in supplier and subcontractor relationships, including pricing, licensing, and payment in accordance with agreed terms of trade. Ensure that business supplier and subcontractor activities are free from coercion and threats. Foster long-term stability in the supplier relationships in return for value, quality, competitiveness and reliability. Share information with suppliers and integrate them into business planning. Seek, encourage and prefer suppliers and subcontractors whose employment practices respect human rights and dignity. Seek, encourage and prefer suppliers and subcontractors whose environmental practices meet best practice standards. Competitors: A responsible business engages in fair competition which is a basic requirement for increasing the wealth of nations and ultimately for making possible the just distribution of goods and services. Business therefore has a responsibility to: Foster open markets for trade and investment. Promote competitive behavior that is socially and environmentally responsible and demonstrates mutual respect among competitors. Not participate in anti-competitive or collusive arrangements or tolerate questionable payments or favors to secure competitive advantage. Respect both tangible and intellectual property rights. Refuse to acquire commercial information through dishonest or unethical means, such as industrial espionage. Communities: As a global corporate citizen, a responsible business actively contributes to good public policy and to human rights in the communities in which it operates. Business therefore has a responsibility to: Respect human rights and democratic institutions, and promote them wherever practicable. Recognize government's legitimate obligation to society at large and support public policies and practices that promote social capital. Promote harmonious relations between business and other segments of society. Collaborate with community initiatives seeking to raise standards of health, education, workplace safety and economic well-being. Promote sustainable development in order to preserve and enhance the physical environment while conserving the earth's resources. Support peace, security and the rule of law. Respect social diversity including local cultures and minority communities. Be a good Corporate Citizen through ongoing community investment and support for employee participation in community and civic affairs.