Anti-corruption compliance has become one of the key issues that companies around the world need to tackle, especially if their business involves extensive cross-border value chains.
The responsibility for designing and overseeing a compliance program, at least in larger companies, lies with an ethics and compliance officer or department. That’s not an easy job. Robust compliance requires sufficient resources; a communication strategy – both internal and external – to convey company values, policies, and procedures; a level of trust among employees to voice concerns and flag violations; and above all, a clear commitment from the board and top management.
Not surprisingly, in many companies at least some of the elements necessary for sound compliance need more attention and remain on a compliance officer’s wish list. In a recent blog, Michael Scher, who has over three decades of experience as a senior compliance officer and attorney and work for major companies in New York and the Middle East, shares several such items. Based on 2013 trends Scher complied 10 areas where more needs to be done, which can be summarized in the following categories:
How can you effectively integrate women into value chains? With this question in mind, two representatives from the Mennonite Economic Development Associates (MEDA), an international development association based in Canada, shared their experiences with women’s economic development projects.
The benefits of empowering and integrating women into the economy are widely known. But what exactly must be done to incorporate women into value chains, especially in parts of the world where women face cultural barriers to participating in their economies?
Siemens is a leading supplier of technologies like wind turbines that help its customers reduce their environmental impact. (Photo: Wind Power Monthly)
As companies around the world strive to create sustainable value chains, they are paying increased attention to the operations and management practices of their suppliers, distributors, and partners. A recent joint research project of the American Society for Quality, the Corporate Responsibility Officers Association, and the Institute for Supply Management with Deloitte Consulting LLP took a closer look at what improves the effectiveness of sustainable value chains. The project gathered almost 1,000 responses from sustainable supply chain executives.
The responses measured how much a given management practice can increase an organization’s sustainable value chain effectiveness, as compared to respondents not adopting the practice. Not surprisingly, among the top 10 such management practices, the top five have to do with engagement, organizational culture, and incentives (percentages represent an increase in sustainable value chain effectiveness):