cauxround table in Business Ethics &Corporate Governance

cauxround table in Business Ethics &Corporate Governance

1. C AUX R OUND T ABLE Presented By: Dr Arun Vidya K

2. W HAT IS C AUX R OUND T ABLE (CRT)?? Its an international organization of senior business executives aiming to promote ethical business practice

3. W HY SUCH NAME ?? Original initiative in 1986 at Caux, Switzerland N EED FOR CRT Japanese dumping products in western market Resulting fear of trade war Trust building between international executives and CSR practices

4. P URPOSE OF CRT The CRT seeks to improve the outcomes of the market economy and globalization through ethical conduct and CSR “The challenge of moral capitalism is to tip the balance of wealth creation toward humanity’s more noble possibilities and away from the dynamics of more brutish behavior.” –Stephen Young, Executive Director of CRT

5. F OUNDERS Frits Philips He was the 4 th Chairman of Dutch Electronic Company Philips In 1986, he launched CRT group of senior European, Japanese and American business executives

6. F OUNDERS Olivier Giscard d’Estaing Chairman of committee of World Parliament He has served as a member of French Parliament He is the author of six books He has served as a mayor of Estaing(Aveyron)

7. F OUNDATION V ALUES Kyosei Means living and working together for common good Human Dignity Means all humans should treat each other with love and respect

8. H EADQUARTERS Caux, Switzerland Minnesota, United States A REA S ERVED The whole world

9. P RINCIPLES FOR R ESPONSIBLE B USINESS Ethical norms for acceptable business behavior Respect Stakeholders beyond Shareholders Contribute to Economic, Social and Environmental Development Build Trust by going beyond the letter of the law Respect rules and conventions Support responsible Globalization Respect the Environment Avoid illicit Activities

10. P RINCIPLE 1:R ESPECT S TAKEHOLDERS BEYOND S HAREHOLDERS Duty to contribute value to society through the wealth employment it creates the products and services it provides to consumers. Economic health and viability for shareholders and stakeholders. Honesty and fairness towards its, customers employees suppliers competitors and the broader community.

11. P RINCIPLE 2: C ONTRIBUTE TO E CONOMIC , S OCIAL AND E NVIRONMENTAL D EVELOPMENT Business cannot sustainably prosper in societies that are failing or lacking in economic development. It contributes to the economic, social and environmental development of the communities in which it operates, in order to build goodwill. Enhances society through effective and prudent use of resources, free and fair competition, and innovation in technology and business practices.

12. P RINCIPLE -3:B UILD T RUST BY GOING BEYOND THE LETTER OF THE LAW Some business behaviors though legal can have adverse consequences for stakeholders. A responsible business adheres to the spirit and intent behind the law, which requires conduct that goes beyond minimum legal obligations. A responsible business always operates with candor, truthfulness, and transparency, and keeps its promises.

13. P RINCIPLE 4: R ESPECT R ULES AND C ONVENTIONS A responsible business respects the local cultures and traditions in the communities in which it operates, consistent with fundamental principles of fairness and equality To avoid Trade frictions and to promote the free trade and equal conditions for competitors as well as participants it should respect International and domestic rules.

14. P RINCIPLE 5: S UPPORT R ESPONSIBLE G LOBALIZATION A responsible business, as a participant in the global marketplace, supports open and fair multilateral trade system of World Trade Organization. A responsible business supports reform of domestic rules and regulations where domestic measures unreasonably hinder global commerce.

15. P RINCIPLE 6: R ESPECT THE E NVIRONMENT A responsible business protects and, where possible, improves the environment, and avoids wasteful use of resources A responsible business ensures that its operations comply with best environmental management practices consistent with meeting the needs of today without compromising the needs of future generations

16. P RINCIPLE 7: A VOID I LLICIT A CTIVITIES A responsible business does not participate in, or condone bribery, money laundering, or other corrupt practices It should not trade in arms or other materials used for terrorist activity, drug traffic or other organized crimes A responsible business actively supports the reduction and prevention of all such illegal and illicit activities

17. S TAKEHOLDER M ANAGEMENT G UIDELINES Key stakeholders are dependent on business for their well-being and prosperity. They are the beneficiaries of ethical business practices. Customers Employees Shareholders Suppliers Competitors Communities

18. C U S T O M E R S Provide the highest quality products and services Ensure the health and safety Protect customers from harmful environmental Respect the human rights, dignity and the culture of customers in the way products and services are offered, marketed, and advertised.

19. E MPLOYEES Jobs and compensation Working conditions Encourage and assist all employees Avoid discriminatory practices and provide equal treatment Avoid illicit or abusive child labor practices.

20. S HAREHOLDERS Apply professional and diligent management Disclose relevant information to shareholders Conserve, protect, and increase shareholder wealth Respect shareholder views, complaints, and formal resolutions.

21. S UPPLIERS Treat suppliers and subcontractors with fairness, truthfulness and mutual respect Share information with suppliers Seek, encourage and prefer suppliers and subcontractors whose: Employment practices respect human rights and dignity Environmental practices meet best practice standards

22. C O M P E TI T ORS Promote competitive behavior that is socially and environmentally responsible Open markets for trade and investment Respect both tangible and intellectual property rights

23. C O M MUNITIES Respect human rights and democratic institutions Recognize government’s legitimate obligation and support public policies and practices Support peace, security and the rule of law

24. CSR BY DIFFERENT ORGANIZATIONS - I NFOSYS Rakum School for the visually challenged : Mitr, the local CSR team, visited the Rakum School for the visually challenged. Mobility, an exercise in which team members walked blindfolded using canes, helped them empathize with the children. The team organized games and distributed chocolates and stationery. Notebook distribution: The Infinite Smiles CSR distributes books and stationery to underprivileged children across Karnataka since 2001. In 2009, the team touched more than 45,000 lives, including the tribal community.

25. WIPRO MISSION 10X Mission 10X aims at enhancing employability of our engineering graduates by empowering faculty members. Having thus far trained over 10,000 faculty members across 20 states, the initiative intends to now reach out to over 25,000 additional engineering faculty in the near future. Eco Eye To strike a balance with environment, WIPRO formed Eco Eye a few years ago to bring all our green initiatives under one banner, and to incorporate better ecological balance in every project we execute.

26. A FFILIATED ORGANISATIONS Some of the affiliated organizations with CRT are United nations global compact(UNGC) The centre for ethical business culture(CEBC) Corporate social responsibility Europe Institute of business ethics The international business forum Initiatives of change