A high level of corporate responsibility has always been an integral part of Thrane & Thrane's mission, corporate culture, strategy and daily operations, in relation to our markets and customers as well as within our organization. Management believes corporate responsibility is a prerequisite for value creation and long-term performance, and our values are in line with the principles of the UN Global Compact.
Thrane & Thrane has defined a code of conduct setting out our position with respect to business ethics, stakeholder relations, the environment and our internal cooperation.
In 2010/11, we focused on consolidating our efforts further in the two high-priority focus areas; business ethics and third-party supplier production and working conditions. In both areas, we have communicated Thrane & Thrane's position to those involved, and the efforts have been further structured and documented. This is important because our sales as well as our production and logistics are global in nature and involve a number of companies and people that cooperate with Thrane & Thrane without being part of our organization.
COOPERATION WITH THE SURROUNDING WORLD
While focusing on responsibility in relation to stakeholders and the community, Thrane & Thrane also has a partnership with the humanitarian organization Télécoms Sans Frontières (TSF). Thrane & Thrane supports TSF's efforts to set up communications in disaster areas, for example by providing EXPLORER BGAN terminals for TSF training courses. In an emergency, restoring communications is a high-priority effort, and in this context the right training in using the latest equipment is a key factor. When contributing equipment for training courses, Thrane & Thrane helps enable TSF to secure communications in the world's focal points.
BUSINESS ETHICS
Thrane & Thrane has an extensive worldwide network of distributors and other business partners, and business practices may vary from place to place. However, it is important for our company to maintain a high level of credibility, independence and professionalism, and we will not offer, give or receive gifts, support, services or the like that may impact our possibilities of entering into agreements or terms in agreements.
Accordingly, we accept no form of bribery, corruption or extortion. Thrane & Thrane has communicated this position to all of its employees and new employees are also instructed, ensuring that they are all aware of our views. In this context, we also instructed our employees how to deal with any actual or suspected deviations from this policy.
THIRD -PARTY SUPPLIER PRODUCTION AND WORKING CONDITIONS
Thrane & Thrane has in recent years increasingly based its production on partnership agreements with companies in other countries. We make a proactive effort to ensure that not only Thrane & Thrane, but also our third-party suppliers meet our standards of responsibility to people and the environment with respect to production and working conditions.
Our policies are based on general principles that are internationally recognized. Thrane & Thrane's suppliers must undertake to comply with these principles, and must accept monitoring and evaluation of such compliance. We have begun implementing the principles in relation to the company's suppliers.
We are developing an evaluation process for suppliers, which will be implemented as and when new agreements are signed. The process comprises systematic reporting and the right to make unannounced inspections.
ONGOING EFFORTS
Follow-up on and organization of Thrane & Thrane's ongoing responsibility efforts are an integral part of our day-to-day management tasks. Overall responsibility for this work is thus anchored with the company's management and the heads of the individual units. Our efforts are coordinated and supported by a cross-organizational steering committee.
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