By today’s definition, good business governance requires planning for long term viability while taking responsibility for the effects our business decisions make on our global and local environments, communities and economies.
The TAG FLAG Initiative aims to identify and promote companies that strive for a fair and ethical balance between all aspects of the triple bottom line - People, Planet, Profit. The TAG FLAG Initiative has also been designed to assist TAG members in improving their own good governance by understanding the operating practices of the business partners they engage with.
The TAG FLAG is designed to identify the level of corporate responsiblity within the operating frameworks of TAG contract holders and suppliers. The questionnaires address multiple facets of operations including; resource management, supply chains, manufacturing, production and transportation policies, labour practices and risks plus overall corporate governance and responsibility.
The questionnaires focus on two outcomes - a Company Profiling Report and a Product Profiling Report. Questionnaire answers are rated against world wide best practice, with the data being used to formulate these reports. Remedial action plans are generated from the data to help improve supplier performance plus benchmarking graphs to provide TAG members with a snap shot of competing products.
TAG foresees businesses who genuinely respond to the challenges of responsible and sustainable commerce as returning a vital element to global business and gaining wider consumer respect as well. Increasing demand for this type of business ethics within the tertiary sector ensures a thriving interest in the ongoing contributions these businesses make.