Beaufond Plc has excellent Corporate Governance that has a clear understanding of the respective roles of the Board and of senior management and their relationships with others in the corporate structure. The relationships of the Board and management shall be characterized by sincerity; their relationships with employees shall be characterized by fairness; their relationships with the communities in which they operate shall be characterized by good citizenship; and their relationships with government shall be characterized by a commitment to compliance.
Senior management, led by the Managing Director & CFOO, is responsible for running the day to day operations of the corporation and properly informing the Board of the status of such operations. Management’s responsibilities include strategic planning, risk management, financial reporting and compliance.
Beaufond Plc has various Committees which have the important role of overseeing management performance on behalf of stockholders. Stockholders necessarily have little voice in the day to day management of corporate operations but have the right to elect representatives (Directors) to look out for their interests and to receive the information they need to make investment and voting decisions.
Beaufond Plc has formulated 12 Policies to regularize the operation, system and procedure of the company with transparency and guide the Management, employees, customers and stake holder to have their operation / performance in smooth way.
The Company’s corporate governance policies recognize the accountability of its Board of Directors and the importance of transparency to all of its constituents, including employees, customers, investors and the regulatory authorities and of demonstrating that the shareholders are the ultimate beneficiaries of the Company’s economic activities.
The company is spearheaded by Mr. Sachin Saini, an Indian National who is the Managing Director and Mr. Saurabh Pradhan, Indian National who is the CFOO of the Company.
The Directors are backed with a team of Independent Directors, Managing Director, CEO, CFFO, CFO, Heads of the Department, qualified personnel with relevant domain experience which provides Beaufond Plc with a competitive advantage as Beaufond Plc seeks to expand in its existing product portfolio.
Beaufond Plc believes that change is the only constant in the arena of global trade and the only way to stay ahead is to have many unique perspectives. So, while the Company’s experts have unique perspectives that are receptive to viewpoints from sellers and buyers. It is the ability to identify the correct perspective that gives the company the edge in any scenario. This level of foresight is applied to every single trade cycle, so Beaufond Plc is always at the ready.
Beaufond Plc’s strengths are,
- Reliability – each business is serviced with great care and every scenario is dealt with the right expertise and tools. It is this attention to detail that has led the Company to consistent out comes time and again.
- Transparency – The Company is in it to win it, but there is no compromise when it comes to fair play. Beaufond’s processes are always ethical and transparent. This creates trust and is the key to building long term business relationships.
- Knowledge – Beaufond has an initiative understanding of each Trade Scenario, born from their inert expertise. The Company conducts due diligence for every trade cycle, so that can have reliable and accurate facts that add value to the partnerships.
- Inclusiveness – Listening to the Stake holders and understanding their perspectives is an important part of what the Company does. By collaborating and adding value, Beaufond able to grow long term relationships based on creditability and trust
Beaufond Plc has well defined systems and procedures and the business model is based on leveraging the company’s excellent relationships with the producers across the globe and using its seamless business Trade Management experience and network to provide world class Trade service to end customers and focused study and taking calculated risks.
The entire spectrum of R&D and analytical research of the company, working in various areas that forecast and analysis the risks and mitigates risk and withstand situations of economic stress. Whilst this diversification strategy has worked well over the years, it is really its specialist knowledge of the various markets, suppliers, clients and a keen understanding of their businesses that enable us to manage the risk.
Beaufond Plc believes that focusing on the markets and customers’ segments enables to achieve a superior return by taking on sound credit risk. Beaufond Plc’ has the vision that placed the greater good of society at par with business growth, put into practice pioneering social initiatives that changed the way responsible business was run and brought into the group a strong social conscience and is to be a global distribution company that provides the best products and services to its customers and creates a business environment that is appreciated and valued by its customers, employees and other business partners
Our activities are not only economically relevant to our companies, but also responsible to the stake holders, employees, Government and Human beings which have social effects.
Therefore, responsible corporate governance means securing the future viability and high reputation of our company by following a “beyond compliance” approach and integrating the expectations of our stakeholders into our business activities.
We are aware of the potential impact of our business activities on people and the environment and are therefore seeking to integrate the principle of sustainable business into all our activities and to work for the well-being of our employees, the environment and the surrounding communities.
The Management Team bundles the respective activities and developed further, working closely with the operating units and the local managers. The sustainability issues are reported directly to the CEO through the head of the Function.
RELATED PARTIES’ RELATIONSHIP
Related parties are relationships in which one party has the ability to control or significantly influence the economic and operating decisions of another. Transactions with related parties are a common feature of business.
As a part of the Company’s philosophy of adhering to highest ethical standards, transparency and accountability in conduct of its business and in the interest of maintaining and adhering to an appropriate governance framework, the Company has historically mandated and ensured that such Related Party Transactions should be undertaken only in the ordinary and normal course of business and at arm’s length such that relationship with the Related Party does not influence, in any manner whatsoever, the pricing and other terms and conditions of such transactions by the Company with Related Parties. This has, over time, been internalized by management personnel dealing with such decisions and has become a normal way of working within Beaufond Plc.
ANTI-CORRUPTION & ANTI-BRIBERY POLICY
It is Beaufond’s policy to conduct all of its business in an honest and ethical manner. The Company takes a zero-tolerance approach to bribery and corruption and is committed to acting professionally, fairly and with integrity in all its business dealings and relationships. It is the goal of Beaufond Plc to avoid acts which might reflect adversely upon the integrity and reputation of the Company.
Individuals involved in corrupt activity may be fined or sentenced to imprisonment. Further, if the Company or any of its employees or associated persons (e.g. contractors, agents or subsidiaries) is found to have taken part in corruption, Beaufond Plc could face an unlimited fine, and it could face serious damage to its reputation both in the public markets and in Honduras. Beaufond therefore takes its legal responsibilities very seriously.
Beaufond Plc is committed to upholding all laws relevant to countering bribery and corruption in each of the jurisdictions in which it operates. As the anti-corruption laws of most of the countries in the Globe have extraterritorial application, Beaufond Plc, its employees and associated persons will be bound by the most stringent requirements of these laws in respect of its conduct in all jurisdictions they operate, even if such conduct would otherwise be permitted by the local law of a particular jurisdiction. A fail Policy has been formulated by Beaufond Plc for its employees, related parties, stake holders etc.
HEALTH AND SAFETY
At Beaufond Plc Health, Safety & Environment and Corporate Social Responsibility is part of our commitment to establishing sustainable communities that give back sizable Company’s operating income annually to various programs, initiatives and causes which was invested in active and healthy living initiatives, water stewardship programs, education, women’s empowerment, humanitarian, supporting university students and disaster relief programs etc
Over the past several years, we have established a strong foundational framework for social and environmental initiatives both, within the organization as well as outside. Our endeavour is to continuously and dynamically build on this and steer it in the right directions. The coming together of business, government and civil society to address society’s biggest challenges holds great promise – it is an idea whose time has come. To this, we will bring our distinctive vision, commitment and energy to the fullest.