18.12.2018

Each company has its own business culture, its traditions, its corporate identity, its management style and philosophy. Consequently, the formation of corporate behavior rules is a very personal process. For this reason, the development of a common pattern of corporate behavior rules is practically impossible. It is possible to outline the main stages of the action:

1. Study of the company’s corporate values;
2. Explanatory work and discussions on the necessity and possible benefits of corporate behavior rules;
3. Formulating and developing a working group to develop corporate behavior rules;
4. Discussion of corporate behavior rules with employees,
5. Approval of documented corporate behavior rules;
6. Clarification of corporate behavior rules (interactive workshops, trainings);
7. Monitoring of the application of corporate behavior rules;
8. Ensuring transparency of corporate behavioral rules among the beneficiaries of the company.

Source: Guide “Structure of Corporate Governance System”

Notably, the “Armenia: Promoting Anti-Corruption Conduct and Reforms” Project which is implemented by The “Center for International Private Enterprise” (CIPE), the “Armenian Lawyers’ Association” NGO (ALA), the “Corporate Governance Center” (CGC), and the “Yerevan Chamber of Commerce and Industry” (YerCCI), was launched in Armenia on 1 October, 2018.

The main objective of the project is to combat corruption in the business sector, to introduce the Anti-Corruption Compliance Standards within the Armenian business community, which will contribute to dissemination of corporate governance and ethical values in Armenia.