BlogPost # 6

All About Nestlé

Since Henri Nestlé developed the first milk food for infants in 1867, and saved the life of a neighbor’s child, the Nestlé Company has aimed to build a business as the world's leading nutrition, health and wellness company based on sound human values and principles.

While our Nestlé Corporate Business Principles will continue to evolve and adapt to a changing world, our basic foundation is unchanged from the time of the origins of our Company, and reflects the basic ideas of fairness, honesty, and a general concern for people.

Nestlé is committed to the following Business Principles in all countries, taking into account local legislation, cultural and religious practices:

• Nestlé's business objective is to manufacture and market the Company's products in such a way as to create value that can be sustained over the long term for shareholders, employees, consumers, and business partners.
  
• Nestlé does not favor short-term profit at the expense of successful long-term business development.
  
• Nestlé recognizes that its consumers have a sincere and legitimate interest in the behavior, beliefs and actions of the Company behind brands in which they place their trust, and that without its consumers the Company would not exist.
  
• Nestlé believes that, as a general rule, legislation is the most effective safeguard of responsible conduct, although in certain areas, additional guidance to staff in the form of voluntary business principles is beneficial in order to ensure that the highest standards are met throughout the organization.
  
• Nestlé is conscious of the fact that the success of a corporation is a reflection of the professionalism, conduct and the responsible attitude of its management and employees. Therefore recruitment of the right people and ongoing training and development are crucial.
  

The new Nestlé Supplier Code was approved by the Executive Board in April 2008. This code aims to specify and help the continued implementation of our Corporate Business Principles by establishing certain non-negotiable minimum standards that we ask our suppliers, their employees, agents and subcontractors to respect and to adhere to at all times when conducting business.

We want to ensure both responsible sourcing and supplier relationships which will deliver a competitive advantage. One basis for this will be the Nestlé Supplier Code; this replaces our previous "Nestlé Principles of Purchasing".

The Nestlé Supplier Code is more precise in defining what Nestlé expects from suppliers and is written in a more concise format. The Nestlé Supplier Code will be added to all purchasing / supply contracts. The roll-out of the Nestlé Supplier Code will take place in each Market and business and will cover all existing and new suppliers.