Corporate Social Responsibility Is Driven by Good Governance
The management of Bittium Corporation is governed by the Articles of Association, the law of Finland (for example, the Limited Liability Companies Act and the Securities Markets Act), and the Bittium governance guidelines. Bittium conforms to the Finnish Corporate Governance Code (2015) that is prepared by the Securities Market Association. The code is available on the associationīs website at https://cgfinland2.fi/en/.
GRC (governance, risk management and compliance) refers to the skills and abilities that enable an organization to meet its targets, address uncertainties and operate with integrity. Bittiumīs GRC measures also include the framework for internal control, which consists of the following structural elements:
- instructions and principles on internal control, risk management and governance, as set by the Board of Directors;
- implementation of instructions and principles and their application under the managementīs supervision;
- efficiency and effectiveness monitoring and confirming the reliability of financial and management reports, conducted by the financial department and business controllers;
- risk management process, the purpose of which is to identify, assess and mitigate risks related to the groupīs targets;
- compliance processes that are aimed at ensuring that each applicable act, regulation, internal guideline and ethical value (including sustainability) is followed;
- efficient monitoring environment at all organizational levels, including customized monitoring measures for specific processes and minimum requirements on Bittiumīs product and service areas and geographic areas;
- shared ethical values and a strong internal compliance culture among all employees; and
- internal inspections on the effectiveness of internal control, as needed.
Bittiumīs Corporate Governance Statement is available at www.bittium.com
Ethical Code of Conduct
Bittium meets the following requirements that cover its social responsibility, ethicality and successful operations on different markets:
1) Anti-Corruption
Corruption is a key risk in the areas of social responsibility and human rights. Bittium operates in markets and business areas where it needs to pay special attention to anti-corruption measures.
Bittium understands that bribery and corruption violate justified business benefits. All business must be honest and ethical, and company does not accept any forms of bribery or corruption in its own operations or the operations of its subcontractors.
Bittium is committed to meeting its statutory obligations and preventing, identifying and removing corrupted practices and cooperating with others to prevent bribery and corruption. For this reason, Bittium also expects its suppliers and other external partners to take the necessary anti-bribery and anti-corruption measures. In 2017, Bittium confirmed its new internal and external anti-corruption guidelines. The guidelines are covered by the Bittium employee training programme, and the group expects its partners to follow them.
Bittium offers an internal channel to its employees for reporting any breaches of the anti-corruption rules. Bittium employees can send their observations to the Chair of the Bittium Audit Committee of the Board of Directors.
No cases of corruption were reported within Bittium in 2017.
2) Information Security and Protecting
Bittiumīs instructions on information security and privacy specify the methods related to the classification, storage and disclosure of information.
3) Fair Business, Advertising and Competition
Bittium follows the rules on fair business, advertising and competition. It has specified and implemented ways of securing its customersī information in accordance with information security procedures.
4) Community Involvement
The group supports community involvement in order to promote social and economic development.
5) Protecting Intellectual Property Rights
Bittium respects intellectual property rights and applies its IPR strategy and guidelines to all its operations.
Bittium Values
Since its establishment, Bittium has followed the values that were defined as guiding principles by its founders. These values have been shaped throughout the years to meet the changing needs of the group. In 2016–2017, Bittium carried out a massive value upgrade project that involved the employees, the management and the Board of Directors.
The new values that guide our business were released in fall 2017. Bittiumīs new values can be summarized into three keywords: Trust, Courage and Innovation.
Trust
Trust is engraved in the DNA of Bittium. It is one of the cornerstones of our business. Trust is an integral element of our interaction with all interest groups, such as customers, partners, shareholders and employees. A transparent and honest corporate culture helps to build trust. Our interest groups can trust that we deliver what we promise. For Bittium employees, trust means taking responsibility for oneīs personal and shared goals. Honesty and trust serve as the foundation for mutual respect.
Bittium is a trustworthy partner for its customers. Trust consists of keeping our promises, being honest and taking the customerīs interest into account. Trust is also an integral part of Bittiumīs products, building information security, reliable connectivity and measuring data. Bittium is a trustworthy, responsible corporate citizen in its surrounding society.
Courage
To succeed, the Company needs also courage. Renewal and development require courage. Our employees have the courage to challenge themselves and each other, to suggest new ideas and to develop ways of working. Courage means taking risks in order to achieve our targets. Risk-taking increases possibility of errors, and when mistakes happen, it is important to be able to learn from them.
Bittiumīs customers can trust that Bittium has the courage to explore new areas in order to enable future growth. Bittium has the courage to meet new challenges and offer innovative solutions. It also takes courage to challenge our customers and suggest ideas that bring added value. Bittium has the courage to develop alternatives that benefit society at large.
Innovation
Passion for learning and innovations is the prerequisite of Bittiumīs operations. Our passion sets us apart from the competition and puts us in the forefront. We can gain a stronger understanding of future technologies by continuously building on our expertise. Bittium encourages its employees to innovate and share their ideas continuously and openly.
Innovation is an integral element of the products, services and solutions Bittium offers to its customers. As a pioneer in wireless technologies, we offer the highest level of expertise to our customers. Innovation and expertise in the most advanced technologies is an important competitive edge for Bittium – it makes us an attractive partner. In the long term, innovations also benefit society.
Cooperation with Interest Groups
Cooperation with Interest Groups Bittium monitors the effects of our operations and the added value we provide for different stakeholders on a continuous basis. Bittiumīs key interest groups are shareholders, customers, employees, partners and other suppliers as well as the public sector.
