Aim

To align the activities of our employees with our policies, strategies and operational goals, and allocate our resources within the limits of acceptable risks.

a) All hierarchical structures must be clearly established. The authority, tasks and responsibilities are to be distinctly defined within this hierarchy and should be delegated to the greatest extend possible.

The delegation of authority, tasks and responsibilities does not, however, relieve any superior of managerial responsibilities. The superior is responsible, in particular, for the selection, instruction and supervision of his employees.

b) The hierarchical structure is supplemented by a co-operative style of management which guarantees the involvement of knowledgeable or experienced employees in the decision making process.

c) The manager should set an example through his conduct as a leader, and should encourage initiative and creativity.

d) The flow of information in all directions must be relevant, systematic and transparent. Moreover, an appropriate degree of confidentiality must be safeguarded.

e) We strive for a balanced age structure among the manegerial staff. This is achived through the early promotion of talented employees and by relieving senior staff members of thier duties in a dignified manner.

f) We prepare our key personnel for managerial duties and support their constant education by means of internal training supplemented by external instructions.