BUSINESS CONDUCT

BUSINESS CONDUCT

Professional and ethical standards in institutional work

The World Bank report indicates that the cost of corruption on the macroeconomic scale represents about 30% of its total value, which has prompted many public and private institutions to spend more financial to preserve that value from public financial waste. The results of studies also show that the higher the level of economic freedom in the institution, the greater the rate of transparency, which is inversely proportional to the rate of corruption, i.e. with freedom, the less corruption. It is also recognized that corruption is largely linked to the business environment, which requires a general institutional culture to reduce such negative phenomena. The more days the institution takes, the more its position in the indicators of corruption are strengthened, the more corrupt institutions that have long been corrupted need to deal with these poor administrative deposits. The reputation that has been exported to the public needs more time to change it. EXPER Consulting and Business Management company from its role in the development of the business environment issues a document of the Business conduct, which has been divided into 5 main parts to raise awareness of the importance of this article. The Business conduct is no longer additional document, but is now a way of managing organizations in a professional manner, ensuring that the business will continue to function in the long term. This section deals with the concept of governance, the charter of action, the importance, the way of work, as well as a general introduction on the subject.

GOVERNANCE

Governance regulates the relationship between the company's angle - Board of Directors, Management, and Stakeholders, with the aim of preserving the company's assets and earnings for a long time. Governance is one of the most important roles of the members of the Board of Directors, in developing the procedures to contribute to facilitating the decision-making process, and to give credibility to it, in order to protect the rights of shareholders and to achieve justice, competitiveness and transparency in the market and business environment, which contributes to directing capital and foreign investments towards the development of the company. Governance regulations and laws also focus on limiting the misplaced use of administrative authority and thus distance it from the direction of its shareholders. In addition, good governance strengthens the role of internal oversight, follow-up the implementation of strategies, and define the roles and powers of each shareholder. The governance system is therefore one of the modern administrative means that emphasizes the importance of transparency and disclosure in the management and implementation of business.

BUSINESS CONDUCT

The strategy of working in successful global partnerships depends on the introduction of the company first, why this particular sector of business, the values and principles it carries, how the results will be achieved, as well as where the company will reach it in the future. The importance of these hubs is that they make the company's stakeholders fully aware of what the company is doing and pursuing. The business conduct, a document that includes standards and controls that establish a culture of professional conduct, ethical values of the company and the basic principles of its work ethics within the framework of corporate governance, as the consolidation of these procedures plays its role in ensuring that the company's day-to-day business is carried out to the highest standards, it will enhance investor confidence in the company. Values are one of the principles on which the company relies on the continuous management of its daily business, which ensures that it stays in the market for a long time. Such internal systems would ensure that results are obtained in the right manner and on a continuous basis. In addition, the business conduct is of the utmost importance in the company's business, which helps to understand how values and practices will be exploited and employed in the company's daily business. The code of conduct applies to board members and company employees, as well as contractors and affiliates, and sets the standards as the basis for systemic and ethical conduct, and stakeholders are expected to deal with the company with the same ethical principles that it raises and undertakes.

HOW IT WORKS

The executive management of the company and the rest of the employees must make more correct decisions in order to achieve the desired success of the company. If there is confusion about those decisions taken, each of the following key questions must be answered periodically:

·      Is the framework of the decision legal?

·      Is the decision in line with the company's regulations?

·      Does the decision apply to the company's policy?

·      Does it benefit all divisions of the company?

·      Is it feared that this decision will be made public and in the media?

INTRODUCTION

Professional behavior is what distinguishes a company with competing companies, which achieves its long-term sustainability. All the procedures and steps taken by the company must be based first on the carefully selected value concepts adopted by the company such as integrity, excellence, safety, responsibility, etc. By acting in a systematic and ethical manner, the inevitable result will undoubtedly be to build a good reputation in the business sectors and the target market. Thus, the company's main role is to commit to doing business in a ethical manner, in which business practice conforms to regulatory values and principles. The success sought depends on ensuring that these practices are in line with the code of professional conduct. The more the board or executive management can reduce the daily and strategic working methods by three to five words — called values — the more the framework, which stakeholders understand, is defined. At the end of the day, the mathematical equation must be clear and based on the fact that "all the work and procedures that the company does reflect the value of the brand, and the business charter explains the way in which these transactions are conducted."

In this regard, EXPER CO. communicates with its clients from the board of directors of companies in the GCC markets and other executive departments, in order to highlight the importance of business conduct, the additions it will achieve to the company and stakeholders, in addition to the losses resulting from the failure to apply these value systems, and the stagnation that these companies may stand in. As discussed in this report, the role of professional conduct rules goes far beyond the application of regulatory procedures in countries, and today it has become a fundamental need for the company to remain in competition for a long time. The role of the board members of different companies is therefore based on establishing and spreading a culture of good professional conduct and ethical values within the business entity, which in turn enhances the confidence of shareholders, investors and stakeholders in the company. Thus, the basis for any company's establishment is to build the dominant identity and culture, which will guide the company's daily business and activities on a continuous basis and in the long term, even in the absence of oversight. The term dynamic can be called the ethical business document, whose engine fuel is the values and professional principles of the affiliate. That's why EXPER CO. argues that the existence of such a trade constitution would achieve the great est value that ensures the long-term survival of the organization and thus continue to achieve more positive results and expected profitability.

1. RESPONSIBILITY TOWARDS EMPLOYEES

Companies rely on their general values and guidelines as a basis for their survival and resistance to external forces corresponding to their business activity. These values are also the limit in the identity of the company and its distinct ness from its competitors. In addition, these values and principles are the institutional aspect that will link the day-to-day actions by the company's management to achieve the desired future results. The values also vary according to the company's business sector, as well as the territory of the company's activity. As is well known, the company relies first on the human component that drives its business and achieves its objectives, through which it conducts different dealings with the rest of the employees in order to achieve the common benefits. The following are the highlights of the employee's responsibility towards co-workers:

CONFIDENTIALITY OF STAFF INFORMATION

It may require the company employee to sign up to some of the data and information about the rest of the employees, which requires dealing with it ethically, away from the passive exploitation of that information and its dissemination. Companies therefore maximize this axis by trading information in a proper and confidential manner that protects their moral assets.

RESPECT

No two disagree that the human soul is forced to respect others, what is the difference between that relationship when it is in a business environment that is based on daily work and on a continuous basis. Companies therefore strive to provide a work environment based on mutual respect among all employees. The forms of respect vary to include partial themes, including the preservation of dignity, the rejection of racism, sectarianism and tribalism, avoidance of harassment and harassment, non-bullying and hostile behavior, among others. Therefore, the focus of respect involves achieving the highest level of international human rights, a commitment to their application and non-conflict.

PRIVACY

Large companies learn the meaning of privacy and its importance in dealing with individuals. Therefore, it provides all its production sources to protect employees' personal data and ensure that it is used professionally and ethically. On the other hand, the company's management expects its employees to respect the privacy of employees, with an obligation to act responsibly when collecting, processing, preserving, disclosing and disposing of personal information.

PLURALISM

Globalization has manifested itself in all different global companies, which have made the existence of different cultures in a single business environment essential to competition in the business process. These leading companies, represented by their executive management, realized the importance of coexistence and cooperation among different peoples to achieve the success that the company seeks to achieve.

COMMITMENT

The executive management asked its employees to devote the time and effort necessary to perform the work and to ensure that the time of others is not wasted, which achieves the desired goal. This axis also includes establishing the principle of employee commitment to all relevant regulations, regulations and instructions, which ensure that everyone is aware of the prevailing business culture in the company.

2. RESPONSABILITY TOWARDS SUPPLIERS

It is also known that the company consists of a group of individuals that deal and cooperate with each other to achieve the company's main objectives. This business is extended beyond the company's framework, through the interaction of team members with other stakeholders from suppliers, customers, the public sector, and others. These transactions therefore require a higher and optimal level of individual behavior, including:

CONFLICT OF INTEREST

The term conflict of interest can be defined as any action contrary to the proper procedures and regulations on which the company or organization relies in the performance of its day-to-day business. The philosophy of working in this area is also to ensure the integrity of the official or the stakeholder not to use his position in the company in favor of passing his business or benefiting from his social relations or those close to him. The employee must therefore first disclose any common interest with the company, whether directly or indirectly, so that he is free from legal suspicions and thereby achieve the highest level of integrity and transparency. In the event of a conflict of interest situation, it should be disclosed directly. The concept of conflict of interest also touches board members to deal appropriately with actual and potential conflicts of interest, and that all decisions are made in the public interest. Some companies are explicitly focusing on this axis, avoiding their employees in situations where their personal interests may conflict with the company's business and functions. Therefore, the policy of these companies is based on making all administrative and technical decisions free from pressures or special interests, taking into account the interest of the public company first. The executive management and decision makers of the company should not make any decision towards meeting special needs.

COOPERATION

The value of cooperation benefit with its clients and different levels also play its role in achieving the highest levels of productivity. The more companies can assert their interest in the common interest with all mutually beneficial parties, the more they have a good value balance to benefit from in the future stages of work.

HONESTY

The value of the secretariat in the work is also a precursor to the strength of implementation, which ensures the company's long-term survival. Dealing with and conducting the company's business with honesty, and taking into account the highest ethical methods and principles in management, all pour into the company's moral balance, which increases the desire of stakeholders to deal with this type of company and the friendship of its members.

ANTI-CORRUPTION

Any organization that seeks to maintain its presence and sustainability in commercial markets must prevent all kinds of corruption in its various forms. Companies rely on this by monitoring budgets and production sources to track and deal with these negative phenomena professionally. The existence of an explicit legal deterrent would reduce this phenomenon and therefore these cases will be the last of the attention and thinking of the customers and employees of the company.

CONFIDENTIALITY OF INFORMATION

The competition process in some companies depends on the information in circulation, which requires careful and limited circulation. The company may also need to share that information and data with some suppliers, after signing the NDA agreement so that it is not leaked to competing companies or others. Staff are therefore expected to refrain completely from using any information that may be used in the direction of the benefit of a supplier but not by other competitors.

GET GIFTS

The company also supports the neutrality of its employees in the performance of its daily duties by refraining from accepting any material inducements and is drunk by refraining from accepting various gifts from any party, in order not to interfere in the business and influence the employee's decision.

COMPETITION

Finally, the company adheres to the principles of free, transparent competition and integrity while competing strongly for new business opportunities, in accordance with the correct legal frameworks. Therefore, the company's employees undertake to abide by all competition and antitrust laws that apply to the company's business in all branches and offices of the company around the world.

3. RESPONSIBILITY TOWARDS THE COMPANY

BUSINESS RELATIONSHIPS

Working in the company requires that the employee be stripped of all his daily roles and choices, and away from privacy when dealing during working hours. For example, the position of an employee may be linked to some personal interviews, which in turn may be faced with one of the social relationships close to him, which must be dealt with with high professional impartiality and ethics, keeping in mind the interest of the company and its success above all other considerations. That step therefore requires that that relationship be disclosed transparently and clearly, towards the realization of the principle of conflict of interest.

REPORTING VIOLATIONS

The parts of the business charter are also interested in involving employees and employees of the company to report all violations and risks in which business and procedures collide with regulations and regulations, while keeping the employee from all consequences. The company's management should therefore establish an appropriate mechanism that allows employees to report their doubts about any of these improper practices.

USE OF ELECTRONIC ASSETS

The company's assets go beyond existing physical limits, currently including various electronic assets that rely more on data and facts. Therefore, the team should be aware of the company's own it and other electronic assets and that it is the property of the company, which must be dealt with within the scope and terms of other assets.

IT AND OPERATING SYSTEMS

Cybersecurity is now one of the most important topics in which companies invest to maintain their information assets. Therefore, employees in the company must help the company's tool to maintain its existing entity by using computers, phones and other modern devices in accordance with the correct systems that ensure that the database is not compromised by the weak souls.

DISTINCTION

On the other hand, ethical work procedures require that the employee deal with individuals with all their components with a high degree of fair equality and away from discrimination of all kinds. This is an important focus in achieving the foundation's governance goals by dealing fairly with community members and stakeholders. The components of individuals vary and are categorized on several components such as sex, nationality, age, social component, etc. In order to drop this on the board of directors, the member of the Board of Directors represents all the shareholders of the company and is committed to the interest of the company, putting the interest of the shareholders first, taking into account the rights of other stakeholders, not the interest of the group that elected him on the day of the Annual General Assembly. Companies therefore place their basic logos with a commitment to provide a discriminatory and non-discriminatory work environment, and to respect others on an ongoing basis.

LOYALTY

Loyalty to the company is a characteristic that is required by management and employees, and everyone must always assert loyalty and act in the interest of the company in all business relationships, including relationships with customers, government agencies, presidents, fellow employees, and inform senior management of any behavior that may adversely affect the company. It should therefore be emphasized that employees make all their efforts towards the company and loyalty to it, and all that would safeguard the interests of the company, develop and maximize its value, and present its interests to its own interests in any case.

PUBLIC RELATIONS

The company's management also expects all its employees and employees to refrain from contributing in exchange or free of charge in any media activity such as making statements or publishing articles about the company without the written permission of the relevant department.

CREDIBILITY

Credibility is one of the most important values and principles on which no company seeks to work in the right direction. Therefore, companies seek to hire all their potential and their sources of production towards applying the principles of work with high credibility, and to achieve the highest level of ethical work at all stages of the business, in order to gain the trust of stakeholders and customers with the company.

CONFIDENTIALITY

Commercial companies also know that confidentiality in the preservation of information and the use of data is a red line that should not be crossed in any way. Leaking private information also has a high cost in maintaining investors and stakeholders.

PERFORMANCE

Passion to achieve significant and desired results, as well as to strive for continuous development. The company is committed to doing the right thing in order to achieve these results.

PRESERVING THE COMPANY'S ASSETS

The company owns the nature of its work and activity for many existing assets, which all members of its team must maintain and exploit optimally, do not exploit the company's assets and resources to achieve personal interests, and work to use it in the best way to achieve the objectives of the company concerned.

4. RESPONSIBILITY TOWARDS TO SHAREHOLDERS

REPORTS ACCURACY

Strictness and fairness in registering all financial operations of the company in accordance with the established accounting standards, protecting the company's property in accordance with the policies and procedures established by the company, ensuring that those assets are used properly, and that the financial and operational records and reports are accurate, complete and reliable on an ongoing basis. Some of the complementary items to this axis are:

·      Prepare reporting systems that include identifying information to be disclosed.

·      Rely on accurate and correct data with that source.

·      Update the company's website with all the information to be disclosed.

·      Keep correct financial records.

·      Ensure that reports and documents are available in Both Arabic and English.

·      Continuous communication with stakeholders and stakeholders.

MONEY LAUNDERING

The company adheres to regulations and transactions that prohibit money laundering operations in all its forms, and expects employees and all its employees to be important to this subject. To contribute to this, the Company strives to comply with all applicable policies and procedures, in order to assure shareholders of the integrity of the business and the value of the company it seeks to achieve.

REPORTS

Companies seeking to build a responsible and effective regulatory culture among their employees, which requires the necessary support and support from the Board of Directors. The construction of policies and regulations towards the reporting hub is the first working station that contributes to achieving the principle of employee partnership in the management of the company's business and acting responsibly towards issues that conflict with the principles and interests of the company. 

DISCLOSURE

Employees of the company must disclose business information and social relationships that intersect with the company's daily interests and business.

INTEGRITY

Integrity is another ethical behavior on which many companies rely to reassure stakeholders that the company operates to the highest standards of honesty and fairness. The employees of these companies cut the right from themselves and deal fairly in all their day-to-day work, with both customers, suppliers, and other stakeholder brokers and agents. The company is therefore keen to carry out its activities in accordance with the highest levels of honesty, integrity, respect and fairness towards stakeholders.

5. SOCIAL RESPONSIBILITY

Companies recognize the importance of the social role they are in as a key part and component of the general community. Therefore, the role of the company's humanitarian and social employees is embodied before the job, in order to achieve the desired overall success. The company takes into account its social role in all geographical frameworks in which businesses are conducted so that they are an added value to this community, aware of their tasks towards it. Therefore, many advanced companies put the importance of this axis before their eyes when launching their annual goals adopting some roles that seek to achieve the satisfaction of stakeholders in general and society in particular.

SAFETY, HEALTH AND ENVIRONMENT

Safety, health and the environment are one of the most important areas of community responsibility, especially in those companies that operate in the industrial and manufacturing sector. These companies are challenging the community to carry out business esa in a safe manner committed to protecting the surrounding environment from the resulting pollution. These companies are also aware of the importance of preserving the human component of their component, which may be exposed to all kinds of physical risks resulting from the nature of the work, which depends on the members of the board of directors and executive management of the companies towards achieving through follow-up performance indicators and periodic reports.

COMPLIANCE WITH REGULATIONS

The primary responsibility is to uphold the principles of citizenship in compliance with regulations, and companies are committed to complying with all applicable regulations and regulations in the internal and external working environment. 

HUMAN RIGHTS

The company is committed to the overall health and safety of employees, and the company also expects from all other third parties to have this kind of ethical values. These rights that the company relies on to meet the human employee, such as insurance, working hours, wages and salaries, other assistance and other items that mimic the principle of human rights, vary. Perhaps the role today has become great for local companies in The State of Kuwait, especially after the tradition of the late Sheikh Sabah Al-ahmad Al-sabah - the Medal of Humanity, which became the capital of Kuwait and its citizens as ambassadors.

HUMANITARIAN WORK

Perhaps the follower of the internal and commercial affairs of the State of Kuwait regarding the role of the society and its components of individuals is fully aware of the great value that this axis enjoys at the local level, which is witnessed by the far and the far. The focus of philanthropy in businesses has become a habit that these institutions, inherited from their founding fathers and grandfathers, have become. These work also includes various assistance related to the humanitarian, educational, health and other activities related to the community.

RESPONSIBILITY             

The company is committed to its responsibility to the community and other public institutions by providing everything that will preserve the environment and surrounding communities. The stages of responsibility begin internally by taking care of the employees, as well as the rest of the other contractors. The management of the company is aware of the importance of building a spirit of responsibility in the minds of its employees, in order to reassure the stakeholders on the one hand, and to instil a spirit of trust and security for the rest of the employees in the performance of their duties, which are important signs as well at the value level.

6. RESPONSIBILITY TO THE STATE

Companies are also aware of their essential role towards various state institutions through their employees. Through daily dealings with these public institutions, the company's management also expects its employees to meet the minimum requirements of ethical professional work. The company's management also expects to reciprocate with government agencies when achieving the company's requirements and achieving mutual value benefit. The following are the themes of this item:

CREATIVITY

Private companies generally seek to find creativity and come up with everything new, and what would achieve the wishes and needs of stakeholders, especially in light of the revolution in informatics and the use of modern technology. On the other hand, the company finds itself in the face of state laws and regulations governing the business process. Nevertheless, the company's management, represented by the Board of Directors and executive management, seeks to meet the needs of these hubs and to adhere to the laws and requirements of high performance, towards creating the desired added value. The company also supports all the efforts leading to the creation of the new product, supported by the processes of creativity and bringing in all that is new. Thus, provide appropriate solutions professionally.

GOVERNMENT

The company has always understood that its success is in joint cooperation with all relevant government institutions, in order to continue the markets and achieve competition. The level of such partnerships may also increase as the company's management, in collaboration with those government agencies, seeks to develop these systems and regulations towards further additions that are of common public benefit. In this regard, it should be emphasized that such amendments and development of regulations and regulations must be in the public interest, taking into account fair competition and the realization of the public good.

TRANSPARENCY

They are also aware that transparency and ethical honesty are one of the most important pillars of corporate governance, requiring them to comply with all relevant laws and regulations, without any restrictions. The publication of information and periodic reports on the company's website is a feature of transparency and self-censorship of business. In addition, the presence of such data in the eyes of investors and money holders also plays a role in enhancing the desired confidence.

PARTNERSHIP

The company's management seeks to form several partnerships and mutual relationships with all different parties, to ensure that it remains competitive within the professional and ethical framework. Therefore, the company acquires mutual trust through positive participation and continuous interaction with public institutions, as well as other stakeholders. It should also be stressed that such partnerships must be the source of positive and correct outcomes for the public and society before private affairs.

PERMITS

The management of the company is informed that doing business is primarily the task of obtaining official approvals from government agencies affiliated with the geographical sector. Therefore, the company invests with its employees by understanding all applicable laws and regulations relating to the nature of business activities where the company has business.

TRADE REGULATIONS

Corporate products may be subject to certain global trade regulations, which are subject to a minimum and even all their various controls, to ensure the continued flow of the business process.

As discussed in the previous key parts of the Articles of the Charter of Institutional Action, the harmony and coherence of their components are important in achieving the desired added value. The united nations must be able to achieve the goal of the Charter. That is, by establishing such business principles with the members of the Board of Directors and executive management of companies, it would maximize the achievement of the sustainable and desired goals in the shortest possible way.

We reiterate that the company's business charter was based on the principle that the members of the board of directors, the executive management and the rest of the individuals must be committed to achieving all professional laws, instructions and standards in order to meet the requirements of stakeholders, and not to direct influence and positions towards personal benefits. The business conduct also covers all the frameworks that grant and prevent customers from exploiting the company's internal information to make use of it in particular. Ethical professional work hubs also shape the material of the charter of Institutional action, which increases the achievement of record levels of public ethics such as transparency, integrity, honesty, honesty, sincerity, etc. The business conduct series continues to create and build a ethical work environment that attracts the attention of investors and customers in the long term, thereby building good attributes and achieving the desired loyalty. This stage can only be achieved through the achievement of other principles such as justice, equality, respect and appreciation for all parties dealing with the company.

The business conduct enshrines the role of effective control over the company's various organs and divisions, and authorizes all employees of different positions and positions to intervene and decide to maintain the company. The business conduct included the possibility of reporting any doubts, improper practices, administrative corruption, and thus achieving the highest degree of partnership in the management of the company. Only at this point can the company and its management be able to continue in the markets and the long-term competition process.

The following are the six main themes that make up the article of the harter of proper institutional work, which should be emphasized in the daily business within the company and in the hearts of its customers:

EMPLOYEE

The human element is one of the most important components of the company and its sources of production, which must begin to create this ethical culture within the organization. Once these employees have adopted these high values, exporting them and sharing them with other fellow employees is inevitable. The ways in which these cultures are built vary according to the labor sector and the level of values inherent and inherited in these companies, which can be in the form of training and development, recruitment, role and task exchange, and other ways of contributing to the building of that ethical professional environment.

SUPPLIERS

Having built a high-level internal professional environment, it is to be maintained by the external companies that the company deals with on a daily basis, which may have the power and strength to change and waste those selected values over the years. The importance of selecting the external company and suppliers well must be emphasized, in order to achieve the highest level of integration in the production and commercial process.

COMPANY

It also requires maximizing the value of the company's assets through its employees and customers, thereby building and maintaining the selected values and principles properly. The importance of this aspect also has its role in building a good reputation for the company among the surrounding circles, especially as we are in the age of fast social networking, which has the ability to destroy the good reputation and accumulated about the company in a short period of time.

SHAREHOLDERS

The business conduct does not highlight the role of employees towards the company's shareholders and shareholders, who will deposit their investments and savings in those companies. Therefore, promoting the most important values relevant in this aspect, such as integrity, transparency, fighting corruption, etc., has a great impact on instilling a sense of reassurance towards these investors.

SOCIAL RESPONSIBILITY

Civil society has also become fully aware of the activities of companies and the additions they provide to the community on an annual basis, which requires directing part of the production resources of these companies in order to contribute to the development of society. Corporate management is betting on civil society's awareness of the movements and public activities of companies, which will contribute by nature to achieving the desired positive results.

PUBLIC SECTOR

Companies are also aware of their essential role towards various state institutions through their employees. Through daily dealings with these public institutions, the company's management also expects its employees to meet the minimum requirements of ethical professional work. The company's management also expects to reciprocate with government agencies when achieving the company's requirements and achieving mutual value benefit.

Finally, it is necessary to work continuously towards the development of the business conduct, and to follow up its implications for the company's business, and changes to the legislative and regulatory business environment require keeping pace with those changes for business safety. That is why companies succeed in building their ethical place and brand in the public market, by attaching utmost importance to honesty and ethical conduct, and always aligning themselves with the right business. In addition, transparency in internal dealings and with stakeholders contributes to the company's long-term competitiveness and building a successful and strong relationship. It is also necessary to adopt the principle of a solid ethical business environment, and not to be satisfied with the existence of such documents without activation, the more the company members and employees abide by the terms of the corporate business conduct, the more the company's size and future success is predicted.

Business sustainability

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Email: [email protected]

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Business Conduct report – 21091

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