Corporate Governance
We understand the demands of our customers, shareholders and other external stakeholders. We recognise that those who put their trust in our capability expect a satisfactory return. And we aim to optimise that return by applying sound management practices that assure proper governance within the business and prudent consideration of risk and reward.
We have described the principles that we adopt within Five Foundation Stones. These define the way we will run and grow Serco. They set out the services we wish to provide, our behaviours and the way we manage. They ensure we are all working from a commonly understood base that can be consistently applied across the organisation.
Our business succeeds by understanding and meeting the expectations of our customers and other external stakeholders. Our approach to governance enables us to achieve this while ensuring sound management practices and prudent consideration of risks and rewards:
- We have an operating structure that reflects our culture, with a short and simple chain between strategy and delivery. Serco Group focuses on external stakeholder relationships, setting strategic direction and maintaining appropriate controls on the underlying business. Each division focuses on delivering the value and growth. This creates a dynamic business environment while assuring good governance throughout the business.
- Defined within the framework created by the Serco Management System , we have systems for internal control throughout the organisation that ensure we comply with statutory, regulatory and internal policies and procedures.
- We have governing ‘boards’ at business unit and contract level. These not only ensure appropriate governance and management review but also provide a catalyst for innovation and continual service improvement.
- We have a unique Corporate Assurance Group . Its job is to ensure our policies and systems are appropriate, remain dynamic and add value to the way we manage while achieving good governance.