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  Integrating strategy, risk and performance

Integrating strategy, risk and performance

One of the newly adopted principles from the King III Code of Corporate Governance is the integration of strategy, risk and performance. Our key response to this principle was to include the mitigating strategies from corporate, regional and operational risk registers in the individual balanced scorecards (BSC) of employees. Members of the Gold Fields Executive Committee, including the Chief Executive Offi cer, were the fi rst employees to have their BSC adjusted to include risk-mitigating strategies. This proved to be a fairly seamless process as the BSC had already been designed to include the company’s three key strategic objectives: Sweat our assets, securing our future and growing Gold Fields. Diagram 2 below illustrates the process in graphic format.

Diagram 2 Achieving our strategic objectives by integrating strategy, risk and performance