BMW 2013 Annual Report Download - page 179

179 STATEMENT ON CORPORATE GOVERNANCE
sition are therefore not intended to be instructions to
those entitled to vote
or restrictions on their freedom
to vote. More to the point, they reflect the compo-
sition which the current Supervisory Board believes
should be striven for in future by those entitled to
nominate and elect board members, in view of the
advisory and supervisory needs of BMW AG’s Super-
visory Board.
In the Supervisory Board’s opinion, its own composition
at 31 December 2013 fulfils the composition objectives
detailed above. Brief curricula vitae of the current mem-
bers of the Supervisory Board can be found on the Com-
pany’s website at www.bmwgroup.com.
Information on corporate governance practices
applied beyond mandatory requirements
Core principles
Within the BMW Group, the Board of Management, the
Supervisory Board and the employees base their actions
on twelve core principles which are the cornerstone of
the success of the BMW Group:
Customer focus
The success of our Company is determined by our
cus-
tomers. They are at the heart of everything we do.
The results of all our activities must be valued in terms
of the benefits they will generate for our customers.
Peak performance
We aim to be the best – a challenge to which all of us
must rise. Each and every employee must be prepared
to deliver peak performance. We strive to be among
the elite, but without being arrogant. It is the Company
and its products that count – and nothing else.
Responsibility
Every BMW Group employee has the personal responsi-
bility for the Company’s success. When working in a
team, each employee must assume personal responsibility
for his or her actions. We are fully aware that we are
working to achieve the Company’s goals. For this reason,
we work together in the best interests of the Company.
Effectiveness
The only results that count for the Company are those
which have a sustainable impact. In assessing leader-
ship, 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 em-
ployee’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 strong-
est factor in our success, which means our personnel
decisions 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 con-
tribution 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.bmw-
group.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 towards
employees and for ensuring compliance with inter-
national social standards are based on various inter-
nationally 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