Michelin organisational values
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The document outlines Michelin's organizational values, established to foster relationships within the company and with external stakeholders. It emphasizes five core values: respect for customers, people, shareholders, the environment, and facts, which guide the company's operations and ethical practices. Additionally, it highlights Michelin's ambitions for 2020, including fuel savings, responsible supply chain development, and employee engagement.
Michelin organisational values
- 1. Organizational Value System Michelin TEAM MEMBERS: NIDHI KARTHIK SACHIN MENON SENGUTTUVAN YUVAARAJ MAHENDRAN
- 2. Introduction Industry – Auto ancillary Founded - 1889; 126 years ago Headquarters - Clermont-Ferrand, France Products - Tires, travel assistance services An industrial capacity which has doubled in 6 years More than 1 lakh employees throughout the world
- 3. Reason behind Michelin values The Michelin values shape relationships within the organisation and also between the organisation and the various groups and individuals that the organisation meets. Michelin is committed to conducting every aspect of its business in a responsible manner. This includes delivering increasingly efficient solutions to meet expectations and aspirations of customers and shareholders. It means respecting the natural environment while achieving economically sound operations. Thus, Every decision and action Michelin undertakes is based on the following five fundamental values
- 4. Michelin Core values Respect for Customers Respect for facts Respect for Environment Respect for Shareholders Respect for People
- 5. Application of values : Respect for customer: high quality products and services and customer-focussed innovation Respect for people: Michelin intends to continue its global expansion through the development of mutually beneficial relations with its employees, its industrial and commercial partners, public authorities, non- governmental organisations, the media or local communities where the Group operates. Respect for Shareholders: Michelin fully recognising shareholder’s role and the investment risks they take by ensuring a sufficient level of operating profits and delivering proper and reliable information on the company. Respect for the Environment: Michelin involves the development of increasingly environmentally-friendly products and services, the implementation of an environmental management system at all production sites and the promotion of efficient end-of-life tyre recycling solutions Respect for Facts: Michelin demands objectivity and intellectual honesty, above and beyond opinions and preconceived ideas in all activities .
- 6. Communication of values: Leading by example , it is Michelin Employee responsibility The values and principles are communicated through The Michelin Performance and Responsibility Charter The Michelin Performance and Responsibility Charter explains these values to help managers and employees better implement them in actions and decisions Every year, Employees has to attend a session and sign on the charter acceptance sheet Communication of these values are also through signboards throughout the organisation Values are clearly communicated during the orientation programme as well
- 7. Do’s & Don'ts • Protection of Employees’ Privacy • Fairness in Financial Reporting • Health and Safety • Protection of the Group’s Assets • Confidentiality • Compliance with Laws and Regulations • Government Relations and Anti-Corruption • Competition and Fair Dealing Do’s • Conflicts of Interest • Gifts and Entertainment • Donations and political contributions • Insider Trading • Relations with Suppliers • Trade and Export Issues • Discrimination and Harassment
- 8. AMBITIONS FOR 2020 – Alignment of Values Save 3 billion litres of fuel over the lifespan of our tires Develop a responsible supply chain and reduce its CO2 emissions by 10% compared with 2010 Promote energy-efficient, low-emissions mobility, particularly in cities Deliver €1 billion in structural free cash flow per year as from 2020 Achieve and maintain an 85% employee engagement rate Help to create 2,000 local jobs per year through Michelin Development
- 9. Our suggestions Anonymous survey on ethical practices in organization with employees Effective explanation on what could go wrong if the values aren’t respected through role play, skit so the values reach every level of organization Appreciation for employee who exhibited and praciticed the values efficiently throughout the year