BMW 2010 Annual Report Download - page 165

163 STATEMENT ON CORPORATE GOVERNANCE
Respect, trust, fairness
We treat each other with respect. Leadership is based on
mutual trust. Trust is rooted in fairness and reliability.
Employees
People make companies. Our employees are the strongest
factor in our success, which means our personnel
deci-
sions will be among the most important we ever
make.
Leading by example
Every manager must lead by example.
Sustainability
In our view, sustainability constitutes a lasting contribu-
tion to the success of the company. This is the basis upon
which we assume ecological and social responsibility.
Society
Social responsibility is an integral part of our corporate
self-image.
Independence
We secure the corporate independence of the BMW Group
through sustained profitable growth.
The core principles are also available at www.bmwgroup.
com under the menu items “Responsibility” and “Em-
ployees”.
Social responsibility towards employees and along the
supplier chain
The BMW Group stands by its social responsibilities. Our
corporate culture combines the drive for success with a
willingness to be open, trustworthy and transparent. We
are well aware of our responsibility towards society. Our
models for sustainable social responsibility towards em-
ployees and for ensuring compliance with international
social standards are based on various internationally
recognised guidelines. The BMW Group is committed to
adhering to the OECD’s guidelines for multinational
companies and the contents of the ICC Business Charter
for Sustainable Development. Details of the contents
ofthese guidelines and other relevant information can be
found under www.oecd.org und www.iccwbo.org. The
Board of Management signed the United Nations Global
Compact in 2001 and, in 2005, together with employee
representatives, issued a Joint Declaration on Human
Rights and Working Conditions in the BMW Group. With
these two documents, we have given our commitment
toabide worldwide by the International Labour Organi-
zation’s (ILO) fundamental working standards, principles
and labour rights. The most important of these are free-
dom of employment, the prohibition of discrimination,
the prohibition of child labour, the right to appropriate
remuneration, regulated working times and compliance
with work and safety regulations. The complete text of
the UN Global Compact and the recommendations of
the
ILO and other relevant information can be found at
www.unglobalcompact.org and www.ilo.org. The Joint
Declaration on Human Rights and Working Conditions
in the BMW Group can be found at www.bmwgroup.com
under the menu item “Responsibility”.
It goes without saying that the BMW Group abides by
these fundamental principles and rights worldwide. Ac-
tivities can only be sustainable, however, if they encom-
pass the entire value-added chain. That is why the BMW
Group not only makes high demands of itself but also
expects its suppliers and partners to meet the ecological
and social standards it sets. The relevant sustainability
criteria therefore play an integral part in all aspects of
purchasing terms and conditions as well as for the
pur-
poses of evaluating suppliers. Potential suppliers must
submit a full disclosure when completing BMW’s sus-
tainability questionnaire, an inherent component of
the
acceptance procedure for potential new suppliers.
The BMW Group also insists that its suppliers ensure
that their sub-contractors comply with set standards.
Purchasing terms and conditions and other informa-
tion
relating to purchasing can be found in the publicly
available section of the BMW Group Partner Portal at
https://b2b.bmw.com.
Compliance in the BMW Group
Responsible and lawful conduct is fundamental to the
success of the BMW Group. This approach is an integral
part of our corporate culture and is the reason why cus-
tomers, shareholders, business partners and the general
public place their trust in us. The Board of Management
and the employees of the BMW Group are obliged to
actresponsibly and in compliance with applicable laws
and regulations.
This principle has been embedded in BMW’s internal
“Rules of Conduct” for many years now. In order to ensure
protection against compliance-related risks and repu-
tational risk, the Board of Management created a Com-
pliance Committee in 2007, mandated to establish a
worldwide Compliance Organisation throughout the
BMW Group.
The BMW Group Compliance Committee comprises
theheads of the following departments: Legal and
Patents, Corporate Communication and Governmental
Affairs, Group Internal Audit, Group Financial Reporting,
Organisational Development and Group Human