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Strategy

Values and responsibility

As company founder Robert Bosch once said: “In the long term, an honest and fair approach to doing business will be the most profitable.” This statement continues to influence the way we do business today.

“We are Bosch” — our mission statement

Bosch in Renningen

We aim to develop products that spark our customers’ enthusiasm, improve quality of life, and help conserve resources. Our “We are Bosch” mission statement reflects this. It summarizes our values, our strengths, and our strategic orientation.

Our mission statementIcon forward-right

Social responsibility

The responsibility towards our society has a valuable tradition at Bosch and starts with the fair treatment of our employees. In our “Guidelines of corporate social responsibility” our management and employee representatives acknowledge human rights, equal opportunities, fair working conditions and worldwide standards in occupational health and safety. These eleven guidelines are oriented towards core labour standards of International Labour Organization and also obligatory for all of our suppliers. In tradition of our founder Robert Bosch our corporate social responsibility goes far beyond our company borders. We are committed to common good, especially equalizing opportunities through education.

Compliance

At Bosch, compliance is an integral part of the company’s values.

Volkmar Denner

With rules of conduct that apply around the world, we aim to protect our associates and company as well as our customers and partners.

“We promise only what we can deliver, accept agreements as binding, and respect and observe the law in all our business transactions,” says the company’s “We are Bosch” mission statement.To underscore the importance of this maxim, the company has summarized all the basic rules of conduct, including the main legal requirements for associates, in its “Code of Business Conduct.”

Bosch also has a central “Compliance Committee,” whose work is supported by compliance officers across regions. Prevention and control measures include the double-checking rule, job rotation in sensitive areas, the strict separation of operational and monitoring systems, as well as regular audits. In 2014, a new standard process was introduced at the “Diesel Systems” division. The rules require that contacts with competitors be immediately proofed by the legal department and approved by the relevant division’s management. This protects the company against the consequences of antitrust violations and makes it easier for associates to operate in a legally secure framework.

The compliance system also includes a reporting system. Associates, business partners, and third parties all have the possibility to report irregular conduct to a compliance officer using e-mail or a special hotline. By operating mandatory training courses, Bosch ensures that all associates are acquainted with the compliance principles and know how, and to whom, they can report violations. It is particularly important that acts that suggest criminal activity, such as theft, fraud or bribery, or a systematic transgression of the law or internal company rules, such as deliberate and sustained non-compliance with quality/safety standards or the Bosch Basic Principles of Social Responsibility, be reported.

The effectiveness of the existing compliance management system was comprehensively tested and confirmed by external auditors in 2014. Independently of that, Bosch has decided on a series of measures to strengthen its compliance structures. These include an intensive exchange on compliance issues between managers and associates. The aim is to develop the current, mainly rules-based compliance system into a system based primarily on values.

Bosch has been a member of Transparency International since 1995, underscoring the importance it places on the principle of legality.

Code of Business Conduct

Code of Business Conduct

Code of Business Conduct

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