Focus on business decision-making

Business decisions are made by collegiate bodies, including directors, executives, committees, which make the company move forward in achieving its strategic objectives, where profitability has always been a maxim. In recent years, we have observed profitability as the main goal has given way to achieving it, how business is done, what strategies are developed or how companies interact with the society in which they are immersed.

Business decisions are today subject to permanent scrutiny. Not only at the internal level, where shareholders’ meetings review the direction of the company, and boards supervise and guide the CEO and his team, and not only with the direct stakeholders of the companies, including their clients, suppliers, employees and of course the authorities, and society. The entire society is the one that today pronounces on business, its externalities, scope, and impacts at a global level.

This challenge, which has often translated into more extensive regulations and more frequent inspections, makes us reflect on whether this is the most suitable way to express and channel society’s business scrutiny. Our answer is that regulations must promote degrees of transparency, which allow us to understand the reasoning behind decision-making, as well as its impacts. We believe that the foregoing, in addition to guiding the debate towards what is rational, allows companies to be closer to the communities where they operate. Transparency is also less expensive and more efficient in its objectives. It contributes to the better company behaviour, which raises and positively permeates corporate governance standards, in a way that we believe is more effective than the fear of inspection.

At Camanchaca, we have years of progress promoting transparency since we made our IPO in 2010. The last progress was the publication, in 2022, of the first integrated annual report of its subsidiary Salmones Camanchaca, which includes the principles and standards of NCG 461 of the financial market commission. Camanchaca, as a parent company, is planning to follow this integrated annual report in 2023.