Strategy and business philosophy

 
FirstRand’s consistently stated long-term strategic objective is to deliver superior and sustainable economic returns to shareholders within acceptable levels of volatility and maintain balance sheet strength.
FirstRand’s portfolio of leading financial services franchises provides a universal set of transactional, lending, investment and insurance products and services. The franchises operate in markets and segments where they can deliver competitive and differentiated client-centric value propositions, leveraging the relevant distribution channels, product skills, licences and operating platforms of the wider group. Strategy is executed on the back of disruptive and innovative thinking, underpinned by an owner-manager culture combined with the disciplined allocation of financial resources.
 
Our philosophy
we believe in empowering our people to run their businesses as if they are their own - these businesses are aligned through the group strategy, shared values and principles. our philosophy is reflected in our owner-manager culture and our track record for entrepreneurship and innovation; our primary points of differentiation from our peers - accordingly, we encourage our passionate and committed people to balance profit growth with sustainable development 
 
The demonstration of this philosophy in our business is through:
 Our owner-manager culture
FirstRand has an empowering owner-manager culture with a bias for action. Empowerment requires accountability and we are committed to rigorous performance management. While fully aligned to group strategy the operating franchises retain ownership of, and accountability for, their strategies, operational decisions and financial performance.
Our commitment to entrepreneurship and innovation
We strive to ensure that innovation is the hallmark of strategic and operational plans. Accordingly, FirstRand recruits and develops entrepreneurial selfstarters who have a passion for what they do. By liberating talented people we have created a legacy of entrepreneurial action that has built excellent businesses.
Our people
FirstRand holds at its core the belief that people are critical to its success. We attract, develop and retain the best industry talent. We empower our people, hold them accountable and reward them appropriately.
 
As the champions of FirstRand’s values, employees act with integrity and practice fair play. We promote and value diversity among our people, particularly as it contributes to innovative thinking and builds inclusive relationships.

FirstRand’s philosophy is underpinned by our belief in the following values and principles:
·        respecting and empowering individuals;
·        collective and individual accountability;
·        integrity in our care for the business;
·        prudent and accurate scorekeeping;
·        ensuring that the business case always prevails through open communication, vigorous debate and participative
         non-hierarchical decision making;
·        being a good corporate citizen - seeing sustainable development and sustainable profit growth as
         complementary objectives; and
·        helping to create a better world that is socially and environmentally viable in the long term.