Mohsin Annual Report-Final 1-91:Layout 1.qxd - Siemens Pakistan

20Directors’ Reportagement's concrete actions.Company Management's close coordination and interaction with Compliance Officer has instilledacross the Company a proactive approach towards high ethical practices. As part of this proactiveapproach the management, Internal Audit department and RCO with due consultation with CorporateCompliance Office formulated a whistle blowing mechanism and a policy/guideline was promulgatedwith the approval of Board of Directors in 2005. This mechanism is currently being replaced withSiemens latest initiative of establishing a Global Centralized Compliance Help Desk.The Compliance function has full access to the Board of Directors. The reporting requirements byRCO on compliance matters have been enhanced by Board of Directors and hence its frequency beingamended from annually to quarterly. RCO's primary mission is to spread and enhance the awareness ofcompliance and ethical matters among the employees and for pursuing this mission regular training sessionshave been conducted out for the pertinent employees.Siemens AG took new initiatives in the years 2006 and 2007 to pave its compliance program towardsseamless status. Appointment of ombudsman, full time Chief Compliance Officer, acquiring assistanceof renowned compliance advisors/experts by Corporate Compliance Office, development of ComplianceHelp Desk, reorganization of Corporate Compliance Office, a web based mandatory compliance training,revised guidelines on specific ethical and compliance topics and many others. The Company with dueconsideration to the provisions of local laws has adopted or is in process of adopting the above enunciatedinitiatives. The Company milieu has always been non tolerant to illegal and unethical practices andthe Company's management is destined to uphold this status quo.Corporate responsibilityCorporate responsibility at Siemens is a well thought out process not a knee jerk reaction. The emphasisis on making Pakistan a more clever, healthier and enjoyable place. This says it all from support to educationalinstitutions, art, culture and sports to volunteering by Siemens employees and their families. Weare among those few companies whose CSR efforts are well documented and are driven by a vision, missionand strategy. The CSR at Siemens Pakistan follows international standards set by Siemens organizationslike 'Caring Hands' and 'Generation 21'. In a society where women often face difficulties at theworkplace, Siemens offers an exemplary environment that is recognized and acknowledged by leadingwomen organizations like the 'All Pakistan Women Association' and NGOs who have given awards suchas 'Gender Equality Award' to Siemens.The Company not only protects the environment by using international standards of environmentalprotection at the workplace but has also introduced environmental friendly technology in all areas of itsbusiness. For the first time in Pakistan Siemens has published a report on its CSR activities which accompaniesthis annual report and gives details of our efforts in this field and demonstrates the importancegiven to CSR by the Company.Development of human resourcesThe success of our Company lies in the sum of the successes of its employees: Only with outstandingand motivated employees can Siemens Pakistan meet - and even exceed - the expectations of its customersand investors. People Excellence stands for a corporate culture, in which all individuals strive forpeak performance, know their goals precisely and are enabled to contribute their talent to the fullest."I enjoy doing my best!" the performance and commitment of a company's employees determinewhat league the company is in when it comes to global competition. Excellent employees are the key toour success. How do we leverage the knowledge and experience of every single employee? How do we