Stakeholder Statement
Solid Solutions Management Limited
Stakeholder Statement
The Directors of the Company must act in accordance with a set of general duties as detailed in section 172 of the Companies Act 2006 in order to promote the success of the Company and Group (hereafter “the Company”). The following paragraphs detail how the Directors have fulfilled these duties:
The Directors are responsible for the overall strategy of the Company and delegate the execution of the strategy and the day-to-day management of the Company’s business to senior management.
The senior management team along with members of the Board of Directors meet regularly and review current and forecast trading, finances, employee matters, marketing initiatives and technological developments. The team will also evaluate any potential acquisitions, such as the purchase of the SOLIDWORKS trade from Pentagon, as disclosed in our statutory accounts.
The overall strategy is set with a view to creating value for the members of the Company over the long term. As such, decisions made by the Company take account of both the short and long term impact that these decisions will have on the value to the Company. Whilst it is often self-evident, the decisions made by senior management and the Board are taken having carefully identified any potentially affected stakeholders and the consequence of any decision on them.
As disclosed in our statutory accounts, soon after the year-end there was a change in the ownership structure of the Group. This was an important decision for the Board during the year. In making this decision the impacts on all stakeholders were considered with the Board concluding that the future of the Group would be further secured by this change.
The Board place great importance on the Company’s reputation. This reputation has been built and continues to be reinforced by the Board’s focus on ensuring that the Company maintains very high standards of business conduct. Internally there are well-established controls and processes in place to ensure good business practice is followed. Further, the Company is supported by a number of external professional advisors who ensure compliance with all laws, regulations and professional standards relevant to the Company’s operations.
In addition to the above, the Directors recognise their responsibilities with regard to a wider range of stakeholders, including employees, customers, suppliers and the community.
The Company engages with these stakeholders through a variety of channels:
Employees The Company has regular communication with all employees, as well as providing information through an intranet platform. A number of staff training courses are run to enable employees to continue to develop their skills and an annual staff survey is completed to ensure the Company understands the views of its employees. We are pleased to note that as part of the staff survey the Company has been accredited by the Sunday Times ‘Best Companies’ as one of the 75 Best Companies to work for in the Midlands.
Customers The Company regularly engages with our customers through a range of means. We have a well utilised website and see large attendances at our annual launch events. We also help customers on a day-to-day basis through our best in class technical support and training courses, providing insight and assistance on an ongoing basis. The level of customer service we offer is highlighted through our Feefo Platinum Trusted Service award, obtained for having an average service rating of at least 4.5/5 from our customer reviews.
Suppliers The Company has a strong relationship with our key suppliers and we conduct regular business reviews as well as attending supplier-led training courses and conferences. We also work collaboratively with our suppliers, both on product development and helping to resolve technical queries our customers may have.
Community The Company recognises the important role it can play in the community and supports its employees in charitable events in which they participate, through the provision of a matched-funding sponsorship scheme.The Company recognises the important role it can play in the community and supports its employees in charitable events in which they participate, through the provision of a matched-funding sponsorship scheme.