governance - woolworths holdings limited

operating environment. Financial and treasury
risks are managed through policies and
procedures approved by the audit committee.
Risk, manifested through HIV/AIDS, crime and
security and business continuity, is managed
through well defined policies and procedures.
relationships and reporting
Communication
The group acknowledges its obligation to
stakeholders to present a comprehensive,
objective and balanced assessment of its
performance.This is achieved through periodic
discussion of relevant information internally
and externally via different channels of
communication, which include electronic media
and presentations to focus groups of the
investment community.
Employee communication and
participation
Woolworths believes in broad communication
on issues of importance to employees and
the business to create and promote a culture
of regular, honest and open internal
communication so that staff will understand the
business objectives and know how to live the
brand values.
Woolworths engages with employees in a
variety of consultative forums to encourage
a participatory approach on matters of
joint interest.
Diversity
Woolworths believes in a diverse workforce
and embraces the principles of employment
equity to achieve an appropriate balance for
the group. The group has demonstrated its
commitment to employment equity by
adopting a diversity statement forming the
basis for implementation.
Corporate social responsibility
Woolworths is committed to the economic,
environmental and social development of the
communities in which it operates. Financial and
non-financial contributions are made through
a social investment programme. These
contributions not only seek to support
communities, but to develop and empower
them to become self-sustainable. Woolworths'
philosophy with regard to corporate social
investment is that people help people,
therefore, the involvement of our employees in
these programmes forms an integral part of
the company's sustainability and development
effort. Details of social investment activities of
Woolworths are summarised in the chief
executive officer's report.
w oolwor t hs
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annual report