Case Study About Ethical Conduct in Cipla Limited
Ninth professionalism, honesty, integrity as well as high moral and ethical standards.
Such conduct shall be fair and transparent and be perceived to be as such by third parties. 2. Conflict of interest Any director or senior management employee of the Company shall not engage in any business, relationship or activity, which might detrimentally conflict with the Interest of the Company. 3. Transparency All directors and senior management employees of the Company shall ensure that their actions in the conduct of business are totally transparent except where the needs of business security dictate otherwise.
Such transparency shall be brought about through appropriate policies, systems and processes.
4. Legal compliance All directors and senior management employees of the Company shall at all times ensure compliance with all the relevant laws and regulations affecting operations of the Company. They shall keep abreast of the affairs of the Company and be kept informed of the Company’s compliance with relevant laws, rules and regulations. In the event that the implication of law is not clear, the course of action chosen must be supported by eminent legal counsel whose opinion should be documented. Rightful use of the Company’s assets All the assets of the Company both tangible and intangible shall be employed for the purpose tot conducting the business tort which they are duly authorized .
None tot assets of the Company should be misused or diverted for personal purpose. 5. Cost consciousness All the directors and senior management employees of the Company should strive for optimum utilization of available resources. They shall exercise care to ensure that costs are reasonable and there is no wastage.
It shall be their duty to avoid ostentation in Company expenditure. 7.
Confidential information All directors and senior management employees shall ensure that any confidential information gained in their official capacity is not utilized for personal profit or for the advantage of any other person. They shall not provide any information either formally or informally to the press or to any other publicity media unless specifically authorized to do so. They shall adhere to the provisions of SIB (Prohibition of Insider Trading) Regulations, 1992. . Relationships with Suppliers and Customers ere directors and senior management employees of the Company during the course f interaction with suppliers and customers, shall neither receive nor offer or make, directly and indirectly, any illegal payments, remuneration, gifts, donations or comparable benefits which are intended or perceived to obtain business or uncompetitive favors for the conduct of its business.
However, this is not intended to include gifts of customary nature. 3.
Interaction with Media ere directors and senior management employees other than the designated spokespersons shall not engage with any member of press and media in matters concerning the Company. In such cases, they should direct the request to the signaled spokespersons. 10.
Safety and Environment ere directors and senior management employees shall follow all prescribed safety and environment-related norms. My thought about the Company Capital is one of the top pharmaceuticals company in India.
Capital that uses the latest pharmaceutical Technology to funnel over seven decades of experience in to one capsule cures, one drop that defends and one puff that protects. Capital explore every drug to its particle and instill safe and sure healing to create one dose of confidence, for us the final measure our success is a simple curve the smile of health regained. Today capital continue to work tirelessly to realize their founder’s vision of providing quality medicine at affordable prices.
Businesses should conduct and govern themselves with Ethics, Transparency and Accountability The Company has a Code of Conduct which provides an ethical road map to its Directors and senior management. The Code prescribes that all Directors and senior management shall show honesty, integrity, as well as high moral and ethical standards in their work, and shall not engage in any business, relationship or activity Inch might detrimentally conflict with the interest of the Company.
It provides audience on making the right decisions and doing only right things. The Code further goes on to state that in order to avoid any kind of ethical violations in the organization, Directors and Senior management employees shall also make certain that all their actions in the conduct of business are totally transparent. The Company is taking steps to extend its policy on ethics and transparency to other key stakeholders.
No significant complaints from the Company’s stakeholders were found to be pending for redressed at the end of the reporting year.
Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle The Company has adopted the lifestyle approach in order to ensure product sustainability across its value chain. In this regard, the Company has promoted local suppliers who produce unique products, such as respiratory products. Certain packaging and other supporting material (linen, printing etc) are also sourced from ‘endorse in the vicinity of the Company’s manufacturing facilities, facilitating local economic growth.
Local sourcing also lowers the transportation costs and also helps in the reduction of vehicular air emissions. The waste generated in the Company’s operations is either recycled or disposed off safely.
As a further example of the Company’s product responsibility, it has reduced the prices of three generic cancer drugs, Earlier, Decoded and Capered, by up to 64% with an objective of making these medicines available to patients at affordable prices.
Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who are disadvantaged, vulnerable and marginalia. The Company has identified stakeholders across its value chain. These include customers, distributors, stockiest, civil society organizations, doctors, employees, Investors, local communities, patients (and health care providers), regulatory bodies, government and suppliers.