Date: 24/05/2011

AmCham Serbia Business Ethics Forum on Ethics and Compliance

Business Ethics Forum served as a platform for discussion on corporate ethics and compliance initiatives featuring stadards related to business operations and in line with ethic guidelines and legal norms

American Chamber of Commerce in Serbia (AmCham) has organised the first in a series of forums on business ethic and legal norms, aimed at informing the expert public on business principles in line with ethic and moral standards and the necessity of introducing them in functioning of business systems, associations or governing institutions. The forum participants, member companies of AmCham in Serbia, have learnt about basic elements of functioning of the ethical code, their implementation, prerequisites and obstacles in that implementation. A special focus has been on interdependence of business ethic and the existing legal norms in the area of the protection of competition and benefits of the implementation of an efficient ethical program for companies. Click here for photo gallery.

Business operations in line with ethical standards have been discussed by Mr Thomas R. Ogoreuc on behalf of U. S. Steel Serbia, Mr Miloš Andrović on behalf of Merck Sharp & Dohme Idea Inc. click here for Mr. Androvic`s presentation, and Mr Miloje Stanojević on behalf of Siemens Serbia; click here for Mr. Stanojevic`s presentation .

Mr. Ogoreuc, Executive Director of Law at U. S. Steel Serbia, discussed the need for corporate ethics and compliance programs that go beyond just a simple focus on respect of the law and regulations. “Each of us is accountable for doing what is right, and that means much more than respect of the law and regulations. Companies should be careful not to assume that ethical business practices are understood. There are many grey areas and it’s important to educate everyone in your organization on what is acceptable practice. Ideally, an organization’s corporate values set the tone and parameters for decision-making. Essentially, company’s need to promote an internal corporate culture where ‘doing what’s right’ is the driving mantra of employee behaviour.” underlined Mr Ogoreuc in his speech.

Business or corporate ethic is a form of applied ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organisations. Ethical conduct is important for providing support to healthy management, position of a good corporate citizen, responsible management, and principle-based management and leadership, necessary for continuous success. Integrity and ethical conduct have to be integral part of everyday activities of any company.

Click here to review Forum`s Agenda