Ethical Practices
Olayan Descon’s unwavering ethical commitment builds trust, integrity, and sets benchmarks for KSA’s energy sector
Ethical Practices At Olayan Descon
In today’s dynamic and interconnected business landscape, ethical practices are a defining factor in the success and reputation of any organization. Olayan Descon, a prominent player in the energy sector engineering, is dedicated to upholding a strong commitment to ethical conduct as a cornerstone of our operations. It delves into the various dimensions of our ethical practices, from core values to community engagement, highlighting our unwavering dedication to upholding the highest standards of integrity, transparency, and responsibility. Our dedication to ethics is a testament to our commitment to secure and confident operations.
In the competitive and interconnected energy sector of KSA, ethical practices are paramount to the success and reputation of any organization. At Olayan Descon, we proudly uphold a strong commitment to ethical conduct, a cornerstone of our operations. In all facets of our work, we uphold the greatest standards of accountability, transparency, and integrity. This article explores the multifaceted dimensions of our ethical practices, from our deeply ingrained core values to our active community engagement initiatives. Maintaining these principles fosters trust and loyalty among our stakeholders and contributes positively to the broader industry and society. We take pride in our role in contributing positively to the industry and society, and we hope to inspire others to do the same. Join us as we delve into how our unwavering dedication to ethics sets us apart in the energy sector engineering landscape of KSA.
Core Values
We are guided by a commitment to ethical conduct, accountability, collaboration, empowerment, and innovation. These principles shape our actions, foster growth, and drive us to achieve excellence together.
Integrity
Upholding honesty and strong moral principles in all actions.
Accountability
Taking responsibility for our actions and commitments.
Teamwork & Collaboration
Working together to achieve shared goals and support one another.
Empowerment
Encouraging and enabling individuals to take initiative and make decisions.
Innovation
Embracing creativity and new ideas to drive improvement and change.
Code of Conduct
Our commitment to ethical practices is reflected in our comprehensive Code of Conduct. This document serves as a roadmap for all employees, providing clear guidelines on how to conduct themselves in an ethical and responsible manner. It outlines the principles and behaviors that are expected from every member of our organization, ensuring that our daily operations are aligned with our ethical standards. From interactions with clients and partners to the treatment of colleagues, our Code of Conduct is a living document that embodies our commitment to ethics.
Whistle-Blowing Forum
Olayan Descon‘ goal is to become a benchmark in compliance and transparency. Therefore, a whistle-blowing forum was launched internally for employees to report concerns about suspected serious misconduct or any breach or suspected breach of law or regulation that may adversely impact the Company. This was further extended to business partners (vendors and customers) by launching a dedicated form on Corporate Website to raise their voice if any employee of Olayan Descon is suspected to be involved in any malpractice or violating the laws and regulations.
This Forum is not designed to question financial, or business decisions taken by the Company or its management (unless an underlying malafide intent is suspected), nor should it be used to reconsider any matters which have already been suitably addressed. Further, anonymous concerns shall only be taken into consideration where sufficient evidence is provided.
Olayan Descon holds its leaders accountable for creating a culture of compliance in which employees understand their responsibilities and feel comfortable raising concerns without fear of retaliation. Leaders’ responsibilities span prevention, detection and response to compliance issues.
Being the voice of integrity isn’t always easy, but when we raise integrity concerns, we make our business relationship stronger and protect our colleagues from harm.
The whistle-blowing service represents a point of contact where concerns can be reported. Employees, managers, customers, suppliers and other business partners can contact the whistle-blowing service in confidence if they have observed or have been informed of any illegal conduct or violations of the Business Conduct Guidelines at Olayan Descon. Our top priority is to ensure that information submitted to the whistleblowing forum is treated in a responsible manner. The reports are received by the Internal Audit Department of Olayan Descon for initial investigation of the matter and the concerns are then handled by the whistle-blowing committee. All reports are treated confidentially
You do not need to be certain that a violation has occurred. At the same time, you have an obligation to promptly raise a concern when you see a situation in which our integrity principles are not being followed. Confidentiality is respected, and you may even choose to remain anonymous. However, if you identify yourself, we are able to follow up with you and provide feedback. Your identity and information will only be shared on a “need-to-know” basis. Any retaliation — whether direct or indirect — against individual who raise a concern shall be protected by the management.
What do we Expect from our Business Partners?
Olayan Descon conducts business responsibly and in compliance with the legal requirements and governmental regulations of the country in which we operate. Under no circumstances, therefore, will illegal or non-compliant behavior be tolerated in the company. We have set ourselves with globally binding principles and guidelines that require all employees and managers to behave in an ethical, law-abiding manner. They form the basis for our work and the way in which our employees interact with each other and with our customers and partners.
We consider legal compliance and business ethics to be our primary duties. As part of our Corporate Responsibility, we also expect this from our suppliers and customers.
Therefore, we expect that you are strongly committed to ensuring legal compliance and, in particular, the strict prohibition of corruption and bribery. To achieve this:
- Never offer, promise, make, or authorize a payment or the giving of anything of value to any employee of Olayan Descon in order to obtain an improper business advantage.
- Remember that providing gifts, entertainment, facilitation payments or anything else of value to government employees is highly regulated and often prohibited. Do not provide such gifts and facilitation payments on our behalf unless you have received prior written approval.
- Be suspicious of any request to make a payment to a person who is not related to the transaction being discussed — or a request that payments be made in another country.
- Treat with extreme caution a demand from a third party to receive its commission payment prior to winning a deal / contract.
- Watch out for commissions that seem too large in relation to the services provided.
Whistleblower Policy
Transparency and accountability are the cornerstones of our Whistle Blower Policy. We understand that ethical lapses can occur in any organization, and we encourage our employees and stakeholders to report any such concerns without fear of retaliation. Our Whistle Blower Policy offers a safe and confidential mechanism for reporting ethical violations, thereby empowering everyone to play an active role in upholding our ethical standards. This policy underscores our commitment to addressing and rectifying ethical issues promptly and responsibly.
Community Engagement
Our ethical practices extend beyond the confines of our organization. We actively engage with the communities in which we operate, aiming to make a positive social impact. By supporting education, healthcare, and welfare programs, we contribute to the betterment of society, aligning our business objectives with the well-being of the community. Our community engagement initiatives reflect our belief in ethical responsibility at both local and global levels.
Continuous Improvement
Ethical practices are not static; they require ongoing commitment and improvement. At Olayan Descon, we are dedicated to continuous improvement in our ethical standards. We regularly assess and enhance our practices, staying aligned with evolving industry norms and societal expectations. Our dedication to ethical growth is an essential element of our overall commitment to responsible business conduct, ensuring that we remain a beacon of ethical excellence in the energy sector.
At Olayan Descon, ethical practices are not just a policy but a way of life. We believe that by upholding the highest standards of ethics, we can build enduring relationships, drive sustainable growth, and contribute to a better future for all.
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