The Charter
How we act is described in the charter. The charter describes our values, commitments and fundamentals - our basic management principles. Novo Nordisk has adopted the charter for companies in the Novo Group - we commit ourselves to act inside this framework.
Company characteristics in the Novo Group
Present as well as future companies in the Novo Group must demonstrate willingness, ability and resolve to meet the following six criteria:
- Company products and services make a significant difference in improving the way people live and work.
- The company is perceived to be the innovator - in technology, in products, in services and/or in market approach.
- Company activities, practices and deliverables are perceived to be economically viable, environmentally sound and socially fair.
- The company is among the best in its business and a challenging place to work.
- Living the Novo values and business conduct principles as defined in the Novo Way of Management.
- Delivering competitive financial performance.
Values
Accountable
Each of us shall be accountable - to the company, ourselves and society - for the quality of our efforts, for contributing to our goals and for developing our culture and shared values.
Ambitious
We shall set the highest standard in everything we do and reach challenging goals.
Responsible
We shall conduct our business in a socially and environmentally responsible way and contribute to the enrichment of the communities in which we operate.
Engaged with stakeholders
We shall seek an active dialogue with our stakeholders to help us develop and strengthen our businesses.
Open and honest
Our business practices shall be open and honest to protect the integrity of the Novo Group companies and of each employee.
Ready for change
We must foresee change and use it to our advantage. Innovation is key to our business and therefore we will encourage a learning culture for the continuous development and improved employability of our people.
Commitments
Financial responsibility
We will work to continuously improve our financial performance by setting high objectives for growth and value creation and deliver competitive performance in these areas. We will maintain an open dialogue with our stakeholders and comply with international reporting standards.
Environmental responsibility
We will work to continuously improve our environmental performance by setting high objectives and integrating environmental and bioethical considerations into our daily business. We will maintain an open dialogue with our stakeholders and report annually on our environmental performance.
We subscribe to the International Chamber of Commerce's Business Charter for Sustainable Development.
We support the United Nations Convention on Biological Diversity.
Social responsibility
We will work to continuously improve our social performance by setting high objectives and integrating social, human rights and health & safety considerations into our daily business. We will maintain an open dialogue with our stakeholders and report annually on our social performance.
We support the United Nations Universal Declaration of Human Rights.
Fundamentals
1. Each unit must share and use better practices.
2. Each unit must have a clear definition of where accountabilities and decision powers reside.
3. Each unit must have an action plan to ensure improvement of its business performance and working climate.
4. Every team and employee must have updated business and competency targets and receive timely feedback on performance against these targets.
5. Each unit must have an action plan to ensure the development of teams and individuals based on business requirements and employee input.
6. Every manager must establish and maintain procedures in the unit for living up to relevant laws, regulations, and group commitments.
7. Each unit and every employee must know how they create value for their customers.
8. Every manager requiring reporting from others must explain the actual use of the reports and the added value.
9. Every manager must continuously make it easier for the employees to liberate energy for customer related issues.
10. Every manager and unit must actively support cross-unit projects and working relationships of relevance to the business.
11. Everyone must continuously improve the quality of their work.*
* Novo Nordisk specific
Methodology
Companies in the Novo Group will use five specific follow-up methods to provide ongoing systematic and validated documentation of their performance regarding the Group criteria and the Novo Way of Management:
- Financial follow-up and reporting
- Environmental & social reporting
- Organisational Audit
- Facilitations
- Succession Management
