BMW 2011 Annual Report Download - page 174

174
152 STATEMENT ON
CORPORATE GOVERNANCE
(Part of Management Report)
152 Information on the Company’s
Governing Constitution
153 Declaration of the Board of
Management and of the
Supervisory Board pursuant to
§ 161 AktG
154 Members of the Board of
Management
155 Members of the Supervisory Board
158 Work Procedures of the
Board of Management
160 Work Procedures of the
Supervisory Board
165 Compensation Report
173 Information on Corporate
Governance Practices
175 Compliance in the BMW Group
we must consider the effectiveness of performance on
results.
Adaptability
In order to ensure our long-term success we must adapt
to new challenges with speed and flexibility. We
there-
fore see change as an opportunity – adaptability is essen-
tial
to be able to capitalise on it.
Frankness
As we strive to find the best solution, it is each employee’s
duty to express any opposing opinions they may have.
The solutions we agree upon will then be consistently
implemented by all those involved.
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 per-
sonnel decisions will be amongst 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 “Employees”.
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 to-
wards employees and for ensuring compliance with
international social standards are based on various in-
ternationally 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 rele-
vant information can be found at www.oecd.org and
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“. This Joint Declaration was recon-
firmed in 2010. With the signature of these documents,
we have given our commitment to abide by interna-
tionally recognised human rights and to comply with
the fundamental working standards of the International
Labour Organization (ILO) throughout the BMW Group
worldwide. The most important of these are freedom
of employment, the prohibition of discrimination,
the freedom of association and the right to collective
bargaining, 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 infor-
mation 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” (Services /Downloads /Topics: “Employ-
ees
and Society”).
Further information regarding employees and diversity
is provided in the “Personnel” section.
It goes without saying that the BMW Group abides by
these fundamental principles and rights worldwide.
Employees have therefore been sensitised to this issue
since 2005 by means of regular internal communica-
tions. 2011 saw the introduction of mandatory training
for all employees, covering the latest developments in
this area. Activities can only be sustainable, however, if
they encompass 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 purposes of evaluating suppliers. Potential sup-
pliers must submit a full disclosure when completing
BMW’s sustainability questionnaire, an inherent com-
ponent of the acceptance procedure for potential new
suppliers. The BMW Group also insists that its sup-
pliers ensure that their sub-contractors comply with set
standards. Purchasing terms and conditions and other