Business Principles
Vodafone's success flows from our commitment to sound business conduct and the way we interact with our key stakeholders (shareholders, employees, customers, business partners and suppliers), government and regulators, communities and society, and the environment.
As a global business, Vodafone operates within a wide range of legal jurisdictions. We respect the rule of law within these jurisdictions and support appropriate internationally accepted standards, including those on human rights. Our Business Principles represent the additional commitments we make to our stakeholders.
Our Business Principles apply to all Vodafone companies in which we have a majority equity interest and to all Vodafone employees. Where Vodafone operates in conjunction with business partners, third parties or in joint venture arrangements where we do not have a majority equity interest, we will seek to promote the application of our Business Principles.
We understand that we will be judged on whether we live up to our Business Principles. We will share good practice across Vodafone as we strive for continuous performance improvement. We will measure, review and report openly on our performance against our Business Principles.
1. Value Creation. We believe that competition in a market economy, pursued in an ethical way, is the best way of delivering benefits to our stakeholders.
- We are committed to providing the best possible return for our shareholders.
- The criteria for our investment decisions, acquisitions and business relationships will be primarily economic but they will also include social and environmental considerations.
2. Public Policy. We will voice our opinions on government proposals and other matters that may affect our stakeholders but we will not make gifts or donations to political parties or intervene in party political matters.
3. Communications. We will communicate openly and transparently with all of our stakeholders within the bounds of commercial confidentiality.
4. Customers. We are committed to providing our customers with safe, reliable products and services that represent good value for money.
- We will work to understand, anticipate and respond to the needs of our customers and to provide them with innovative products and services.
- We value the trust our customers place in us and will safeguard the information provided to us in accordance with relevant laws.
5. Employees. Relationships with and between employees are based upon respect for individuals and their human rights.
- We will pursue equality of opportunity and diversity through our employment policies.
- We will encourage our employees to reach their full potential through training and development.
- We will promote employee participation in share incentive plans.
6. Individual Conduct. We expect all our employees to act with honesty, integrity and fairness.
- No form of bribery, including improper offers or payments to or from employees will be tolerated.
- All Vodafone companies, their directors and employees must comply with the provisions of all applicable domestic and international laws, standards and principles relating to anti-corruption, including the Applicable Laws and Regulations
- All employees are expected to avoid any contacts that might lead to, or suggest, a conflict of interest between their personal activities and the business of Vodafone.
- All employees are expected to avoid accepting hospitality or gifts that might appear to place them under an obligation.
7. Environment. We are committed to sustainable business practices and environmental protection.
- We will use finite resources carefully.
- We will promote the use of operational practices that reduce the environmental burden associated with our activities.
- We will support innovative developments in products and services that can offer environmental and social benefits.
8. Communities and Society. We accept our responsibility to engage with communities and we will invest in society in a way that makes effective use of our resources, including support for charitable organisations.
9. Health and Safety. We are committed to the health and safety of our customers, employees and the communities in which we operate.
- We will disclose any information that comes to our knowledge, which clearly demonstrates that any of our products or services breach internationally accepted safety standards or guidelines.
10. Business Partners and Suppliers. We will pursue mutually beneficial relationships with our business partners and suppliers.
- We will seek to promote the application of our Business Principles by our business partners and suppliers.