A letter to the Shareholders
The past three years have been extremely difficult years as depicted in the global economies and mostly for the US to be more specific, this year though is the year of restoring confidence and trust in our financial system. We encountered new and exciting challenges this year there has been an immense increase in demand of our products, the demand of our products increased by 60% exceeding what we normally produce. The company however, failed short of production to meet the demand this year. Long rides are introducing new products in different segments. The products include; adventurer, commuter, kids and leisure. These new products are going to take the company a notch higher in the stock market and the returns will be tremendous from the products. Our decrease in the net worth of the company in the past year was $ 10 Billion, this reduced our per share book value of our stock by at least 3%. Over the last 8 years (since the company was incorporated) book value has grown from $18 to $ 70,000, a rate of 19% compounded annually. The period was exciting for bonds and by yearend; investors of all stripes were a happy lot. There has been a tremendous increase in our market strategies from the previous year straight from 5M to 8M. We continue to hone our vision and mission as well as defining what it will take for us to achieve them. There are currently five essential pillars that we have come up with in our strategy and below have laid them out for you;
- Every day we will continue to reinvent the company in the best possible way that we can through creativity, innovation and technology.
- Creating lasting relationships with customers of the company by empowering them to manage their capabilities.
- Reinforcing the corporate culture and values by ensuring that everyone lives by our values every day.
- Building our brands and making them unique and loveable as possible.
- Aiming to attain the best in class productivity and efficiency and ensuring that the products and services are of the best quality.
Furthermore, we are happy to inform you that all our outstanding balances have been paid off and now our resources can be more projected towards growth since the market is expanding and so is Long rides, the resources will be used to expand our clientele, suppliers and improve on our technology. Finally, Long rides would like to thank all our shareholders for their cooperative nature and for helping us be where we are as we speak.
Ethics the Long ride follows
As always, Long rides has in many years maintained an ethical behavior. The company will continue to uphold the tradition of ethics that is religiously observed and will as well educate and inform our employees on the respective code of ethics that are supposed to be followed. Ethical behavior is of great importance to our company as large and we are ready to use our resources and energy to make sure a great and clean code of ethics is maintained as always. Our ethical
Standards are as follows;
Conflicts of Interest
A conflict of exists when a person’s private interest interferes in any way with the company’s interest. An employee will have had a conflict of interest if he or she takes an action that makes it difficult for him or she to perform tasks assigned to them for the company objectively and effectively. It can also arise when an employee of the company or his family member receives improper personal financial benefits because of the position of the employee in the company. Lastly, it is a conflict of interest if an employee of the company works for a competitor, customer or a supplier. All the directors and executive officers of the company shall disclose any material transaction or relationship that might be expected rise to such a conflict.
Employees of the company are prohibited from taking opportunities that have come up due to the use the company’s property, information available at the company or without the consent of the board of directors. Employees are required to avoid using corporate property, information or their position for any gain that is improper and personal and no employee may compete with the company directly or indirectly as they owe a duty to the company to let known legitimate interests whenever possible.
Employees who have access to confidential information of the company are not permitted to use or even share the information for the purpose of any stock trading or for any other purpose except for the conduct of the business of the company. Any information that is non-public should be considered confidential and will be illegal to trade any securities of Long rides while an individual has possession of material, confidential information. It is also illegal to share the confidential information to someone else who is trading in the company’s securities.
It is the duty of the employees to maintain the confidentiality of any information in the company entrusted to them that is considered confidential. There is an exception only if there has been authorization by an appropriate legal officer of the company or if it is required by the laws and regulations. Confidential information if leaked out can be used by competitors to harm the company or its customers. This information also includes information also includes information given by customers or the suppliers. The obligation to keep confidentiality will be observed even if employment with the company ends.
Sales and Marketing Ethics
Long rides’ marketing has been successful in the recent years and management has seen to it that a lot is emphasized in this area. The guidelines here involve that we direct our sales to children, subliminal messages will also be included and media ethics will be incorporated.
As observed Long rides has achieved a remarkable increase In production this year and production procedures have been adjusted. Management will ensure that laws and regulations placed by the government concerning pollution will be adhered to the latter. Long rides will ensure to protect the environment and produce safe products.
Social Responsibility Standards
Social responsibility is a great area in Long rides and we have worked so hard to ensure that we have a good internal and external relationship among individuals. Long rides views society as a major influence in the company hence we do our best to interact and to be involved in the society.
Long rides have a responsibility towards citizens and everyone we come in contact with. We are involved in activities such as employee satisfaction and initiating a good relationship with the customers and suppliers. Long rides ensure that everyone is treated with respect and with lots of care and attention, this helps to attain and maintain our core values. There have been discussions in the bicycle industry to have good practices such as compensating our shareholders and we are highly debating on the issue and hope that soon enough we will be able to compensate our shareholders.
Issues concerning the environment will always be a hot topic in the globe. The world is rapidly changing and we as Long rides have tried to come up with various actions to ensure that our environment is protected and nature is maintained. We take a responsibility as Long rides to educate our customers and suppliers on how to handle and recycle products that are not being used. We will try to minimize on packaging our products so as to save on materials and to minimize the effects on the environment. We will avoid suppliers who use methods that are not acceptable and those who have hazardous materials. Long rides boast of social responsibility towards the environment as well as the individuals involved.
Long rides integrate the goals of a high quality of life, health and prosperity with social justice and maintaining the earth’s capacity to support life in all its diversity. We reinforce social, economic and environmental goals to make sure that our company is at par with the business environment.
Involvement of the Stakeholders
Stakeholders can help by partaking in the regulatory approval processes, improving relationships proactively and solving corporate social responsibility roadblocks and potential crises. Long rides have actively involved stakeholders from the start so as to articulate our values, missions, strategy and implementation of the Corporate Social Responsibility.
Development of Sustainability Management Systems
` Long rides has developed a framework that ensures that environmental, social and economic concerns are considered throughout the decision making process of the company. We started by identifying and prioritization sustainability aspects and impacts. We also looked at the legal requirements related to these impacts and evaluate our company’s current compliance. We also went a step further to educate and train our employees on this framework so as they can be able to learn how to use it.
Engaging in social responsibility is a great boost to our company as it will be considered highly in society.