Economic Responsibility

15-Economic-Responsibility

The economic policy of Maga is geared towards sustainable growth and performance. As a responsible corporate entity, we are distinctly aware of our responsibility to economic performance and sound financial results. Whilst shareholder returns are a priority, equal importance is given to our responsibility towards the society governed by ethical business conduct, a critical element of all our operations.

Maga’s economic responsibility has manifested itself through the provision of products and services that have generated true economic value in relation to the opportunity costs that are associated with this production. It is embodied in the key policy statements of the company, i.e. our Vision, Mission, Belief System and Quality Policy.

Economic responsibility is embedded in our management approach and manifested in our stance on:

  • economic performance
  • quality management
  • ethical conduct
  • financial discipline
  • economy (price/ value ratio) of our products
  • product functionality
  • innovation and sustainable production technologies
  • minimisation of use of materials and resource wastage
  • sound supplier relations
  • supply chain management
  • technology transfer and
  • transparent reporting

Direct and indirect economic performance is constantly reviewed with respect to the above parameters. The life cycles of both in-house and external products are analysed to ensure that they fulfil their intended purpose and cause no harm, directly or indirectly, to their end-users. We ensure that our products meet relevant domestic and international industry standards. Their quality is assured through independent assessment of product design and continuous dialogue with designers and architects.