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People, culture and governance
(Human and intellectual capital)
The technical and managerial skills, productivity and wellbeing of our people – coupled with a company culture and governance systems that foster innovation and compliance – are critical to our long-term success.
Investing in our people is one of the most significant costs to our business, impacting short-term financial capital, but generating longer-term returns in all capital stocks. The anticipated changing nature of work, and the increasing role of digital and Artificial Intelligence may result in some pressure on certain traditional job functions.
Quality relationships with key stakeholders
(Social and relationship capital)
A positive reputation and quality relationship with customers, regulators, investors, suppliers and communities is the foundation of our ability to generate revenue.
We believe in maintaining strong relationships with all our stakeholders. We see our role in society as positively contributing to societal issues like education, health and security. Investing in social capital often requires short- and medium-term financial capital inputs, but generally generates positive return across most capitals.
Network and IT infrastructure
Our network infrastructure, data centres, distribution infrastructure and software applications are an important source of competitive differentiation.
Investing in building and maintaining this infrastructure requires significant financial capital, and appropriate levels of human and intellectual capital, as well as certain natural capital inputs and outcomes. Over the long term, the investments in manufactured capital typically generate net positive outcomes.
Which includes shareholders’ equity, debt and re-invested capital – is a critical input in executing our business activities and in generating, accessing and deploying other forms of capital.
Balancing the short-term interests of investors with longer-term growth objectives, and with some of the interests of other stakeholder groups, remains a critical objective and often involves balancing certain trade-offs.
We require natural capital such as land and energy to deploy and operate our manufactured capital.
Accessing natural capital inputs diminish financial and natural capital over the shorter term. Some environmental outcomes impact negatively on human and social capital.