Business and ethics are not opposites, but go hand in hand. For companies, this is both an aspiration and a challenge. Audi recognizes its economic, ecological and social responsibility and has aligned itself accordingly – with the “Vorsprung 2030” strategy, a firm commitment to sustainability and binding ethical principles for corporate governance.
Thus, compliance and integrity are an integral part of all business processes and decisions within the Progressive brand group. For this to work, it is crucial to have a corporate culture based on shared values.
They foster a trustful working environment that enables successful collaboration, especially in times of fundamental change – collaboration between employees and managers as well as between the company and its customers, business partners and stakeholders, Audi.com reported.
Elke Neidlein, Head of Integrity Management, Anna Ehret, Head of Corporate Culture, and Prof. Dr. Miriam Müthel from WHU Düsseldorf, a university that provides academic support to Audi in the area of integrity management, explain why responsible corporate governance and a corporate culture based on values are key success factors for AUDI AG.
Legislators, markets and stakeholders provide companies with a framework for legally compliant and ethical conduct – and this is where our work comes in. In our governance role for compliance, integrity and risk management, we mitigate legal and financial risks for Audi, prevent possible misconduct and protect the reputation of our company. A concrete example of this is the Act on Corporate Due Diligence Obligations in Supply Chains, which is based on the UN Guiding Principles on Business and Human Rights and holds companies accountable.
We have long since established effective tools for responsible corporate governance. Among them are our Compliance Management System and our Integrity Management, as well as the Audi Code of Conduct. All employees – whether they are members of the Board of Management or skilled workers – must commit themselves to these principles. All of these tools are being continuously refined using synergies within the Volkswagen Group.
But that is not all. More than anything else, it is our values that make us trustworthy partners for our stakeholders. Integrity, one of the four Audi values, is also a key skill for successful, sustainable and responsible corporate governance. And that is precisely what we have committed ourselves to in the ESG (Environmental, Social, Governance) field of action of our “Vorsprung 2030” strategy, which is founded on integrity and compliance.