Particularly in high pressure environments, we must make a concerted effort to continuously focus on ethical behaviors. Guided by the Philips General Business Principles (GBP), we govern the business’ decisions and apply equally to corporate actions and to the behavior of individual employees. They incorporate Philips’ fundamental principles for doing business with the intention of ensuring compliance with laws and regulations, as well as with Philips’ norms, values and standards.
Business ethics have been part of Philips’ way of working for decades. Our focus has expanded from dealing directly with consumers, to developing solutions for governments, businesses and working with partners and via joint ventures. Since then, our focus on responsible business conduct and our behavior has grown even more.
When it came to taking our first steps in the Middle East to promoting ethical practices as part of daily business operations, we announced our partnership with the Pearl Initiative, a non-profit organization based in the GCC. In our partnership with the Pearl Initiative, we have worked to promote transparency, accountability, corporate governance and best practices in the Arab World. This partnership is about using our knowledge of the region and experience of driving awareness of the benefits of best practice to reinforce positive regional experiences – ultimately encouraging more companies to raise business standards and fight corruption.