The major trends that influence the success of our business also help determine Q-Park's strategic direction. We aim to gain substantial benefit by utilising our scale of operations and excellent market position. We want to increase the margins on our operating activities by focusing on greater efficiency. We have already combined the management and administration of the country organisations into four regions and we are now focusing on increasing our market share through acquisitions and different types of lease and management contracts.
Our aim in society is to be an integral part of city mobility policy and to work towards sustainable freedom of movement. We will achieve this through adopting a fair pricing policy, facilitating good information provision about available parking spaces, and integrating with alternative modes of transport. In response to digital and payment trends, changes in customer needs and behaviour, and the evolution of smart cities, we are constantly developing our parking management systems and our operational processes. An integral mobility policy is becoming increasingly important for the quality of life and vitality of cities. In this, we offer motorists plenty of choice and help ensure the smooth flow of traffic.
We create sustainable value in society with our parking products: they help to improve the quality of life in urban areas and to reduce air pollution generated by traffic cruising for a place to park. As a proactive learning organisation, we enhance our employees’ job satisfaction and their competences by providing relevant education and training. And for the parking customer, we add value by providing functional products and services and by involving them in our activities.
To clarify the sustainable value we create, we use the IIRC framework which is based on the Six Capitals. With the capitals financial, manufactured, intellectual, human, social, and natural we realise certain benefits, financial as well as non-financial.
Financial capital is broadly understood as the pool of funds available to an organisation. This includes both debt and equity finance. This description of financial capital focuses on the source of funds, rather than its application which results in the acquisition of manufactured or other forms of capital.
Manufactured capital is seen as human created, production-oriented equipment and tools. A distinction is drawn between inventory (as a short-term asset) and plant and equipment (tangible capital). Although the identification of these items is generally agreed, their accounting treatment, particularly in terms of valuation, depreciation and taxation, is more contentious.
Intellectual capital is a key element in an organisation’s future earning potential, with a tight link and contingency between investment in R&D, innovation, human resources and external relationships, which can determine the organisation’s competitive advantage.
Human capital is generally understood to consist of the individual’s capabilities, and the knowledge, skills and experience of the company’s employees and managers, as they are relevant to the task at hand, as well as the capacity to add to this reservoir of knowledge, skills, and experience through individual learning.
Social and relationship capital may include relationships within an organisation, as well as those between an organisation and its external stakeholders, depending on where social boundaries are drawn.
Natural capital is a metaphor to indicate the importance of elements of nature (for example: minerals, ecosystems and ecosystem processes) to human society. Natural ecosystems are defined by a number of environmental characteristics that in turn determine the ecosystems’ capacity to provide goods and services.