Morgan Philips Group acquires Hudson’s operations in Europe
The Compliance Culture can be understood as a subculture of corporate culture, which should lead to a common orientation of the values, norms and traditions within the company.
A Compliance Vision statement and a Compliance Mission statement should therefore act as a basis for decisions.
The Compliance Vision identifies the strategic objectives for the next two to five years and focuses on integrity and a value culture. The Compliance Mission is the commitment to compliance and is intended to make clear what is permitted and what is not. It is therefore not sufficient to rely on the previous visible compliance artefacts (formal order), such as signed guidelines, completed e-learning, etc. Rather, compliance-compliant behaviour must also be found in informal orderliness and structure, ie in informal behaviour. Only at this point can the sense of right and wrong be influenced in favour of the compliance organization. Success can be achieved with the establishment of business ethics.
Through appropriate compliance actions, the long-term goal of the Compliance Vision should be that the employee behaves in a compliant manner from his sense of duty (autonomous morality). Business ethics can therefore strengthen the autonomous morality within the framework of integrity initiatives. A positive side effect is that this also inhibits the perception of action.
Business ethics should therefore be understood as part of the daily process so that they also have an effect below the surface.
Therefore, the following should be taken into account when introducing Business Ethics:
Business ethics can therefore be understood as a mediator between compliance and integrity. The connection between compliance and integrity is Compliance Commitment. At the operational level, business ethics can lead to a higher Compliance Commitment, which can lead to fewer offenses and thus to the avoidance of economic crimes.
The author is head of compliance in a medium-sized company in the real estate sector. His main focus is the design of CMS, the conduct of internal investigations, HR compliance and the strategic approach to non-compliance.
Book publication: “Influence of Organizational Culture and Organizational Justice on Economic Crime: Implementing a Compliance Committee”
If you want to hear more about Compliance and our Expert Tommas Kaplan, feel free to read his book: http://www.verlagdrkovac.de/978-3-8300-9228-5.htm?lang=english
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