As we already know, one of the key elements of a robust and effective Anti-Corruption Compliance Program in business is the corporate behavioral rules.
The introduction of corporate governance rules and their guidance in business life are the “business cards” of both the company and its employees, and are frequently becoming more and more important in building relationships with clients and customers and determining their trust.
Being guided by the rules of conduct in corporate relationships, even if they are not well developed yet, gets the positive attitude of the parties involved in the relationship, which is further strengthened if the behavioral rules become a natural process. This is manifested in the fact that compliance with the rules of behavior remains not the internal psychological requirement of individuals, but rather the position and practice of the company.
At the same time it is necessary to add that artificial, formal tracking of the rules of conduct can only have the opposite effect, discredit the company and damage its business reputation and image. Consequently, it can be stated that the rules of conduct are a rather “delicate” tool for building corporate relations․
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Corporate governance rules generally have 3 functions: |
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| 1. Reputation | |
| 2. Managerial | |
| 3. Development of corporate culture. | |
Source: Guide “Structure of Corporate Governance System”
It should be noted that On 1 October, the “Armenia: Promoting Anti-Corruption Conduct and Reform” project, which is implemented by the Center for International Private Enterprise (CIPE), the Armenian Lawyers Association, the Corporate Governance Center and the Yerevan Chamber of Commerce and Industry was launched.
In addition, тhe objective of “Armenia: Promoting Anti-Corruption Conduct and Reform” project is to introduce anti-corruption programs in Armenia’s businesses, which will contribute to the insemination of the values of corporate governance and ethics in Armenia.
This material has been prepared in the scope of the “Armenia: Promoting Anti-Corruption Conduct and Reforms” Project implemented by the “Center for International Private Enterprise”, the “Armenian Lawyers’ Association” NGO, the “Corporate Governance Center” NGO and the “Yerevan Chamber of Commerce and Industry” with financial support of the National Endowment for Democracy. The project is implemented as a co-financing to the “Commitment to Constructive Dialogue” action implemented with the financial support of the European Union by a Consortium comprising the “Armenian Lawyers’ Association” NGO, the “Armenian Center for Democratic Education-CIVITAS” NGO, the “International Center for Human Development” NGO, the “SME Cooperation Association” NGO, the Union of Communities of Armenia, as well as “Agora Central Europe” NGO (Czech Republic). The contents of this material are the sole responsibility of the “Armenian Lawyers’ Association” NGO and can in no way be taken to reflect the views of the National Endowment for Democracy and the European Union.
