Business ethics of Reliance

Business

Ethics

Intro to Ethics in Reliance

At Reliance Group Companies, the issue of ethics is simple: it is a simple process that involves defining what is right or wrong, & then doing the right thing. Ethics Management at Reliance Group Companies is about values & associated behaviours. It is a process of defining values & ensuring that corporate & individual employee behaviours epitomize those values. We at Reliance Group Companies believe that any business conduct can be ethical only when it rests on the nine core values of Honesty, Integrity, Respect, Fairness, Purposefulness, Trust, Responsibility, Citizenship & Caring. Strong commitments to these high values have long been building principles for Reliance Group Companies. These values are not to be lost sight of by anyone at Reliance Group Companies under any circumstances irrespective of the goals that are intended to be achieved. To us, means are as important as the ends.

Responsibilities • Honesty• Integrity • Respect• Fairness• Purposefulness• Trust• Responsibility• Citizenship• Caring

1. Honesty

We are committed to be truthful in all our actions. We strive to be honest & forthright with one another & with all our stakeholders.

2. Integrity • Reliance Group Companies insists on honesty, integrity &

fairness in all aspects of its business & expects the same in its relationships with all those with it does business.

• There exists a clear vision & picture of integrity throughout Reliance Group Companies. Our reward & promotion systems are aligned with this vision of integrity.

• Upholding the Reliance Group Companies reputation is paramount. We are judged by how we act. Our reputation will be upheld if we act with integrity in all our dealings, even at a personal level, & we always do what we think is right at all times.

• We say what we mean, & deliver what we promise, & promise to stand for what is right. We always honour all our commitments. We stand for loyalty & trustworthiness.

3. Respect

We are committed to treat everyone fairly & with respect & dignity. We appreciate & value the skills, strengths, & perspectives of our diverse workforce. We request the uniqueness of each employee. We believe that each employee makes a meaningful contribution in Reliance Group Companies’ success.

4. Fairness

Reliance Group Companies is firmly committed to fairness & objectivity in all its action & interactions. Justice & fairness imbibed in the Organization’s fabric ensure procedural fairness, impartiality & consistency in Reliance Group Companies operations

5. Purposefulness

Reliance Group Companies sees its activities in terms of higher purposes & ideals. This purposefulness is a way of operating which ties Reliance Group Companies to its environment at a mutually beneficial dimension.

6. Trust

We endeavour to foster a participatory work environment where trust & confidence between team members is spontaneous. We always encourage teamwork with open, candid & speedy communication.

7. Responsibility

Our employees are expected to demonstrate highest levels of personal responsibility & continually affirm that they are responsible to themselves for the pursuit of excellence. At Reliance Group Companies accountability is individual rather than collective. Our employees are committed & enthusiastic to assume responsibility for actions for the organization.

8. Citizenship

• We are a fiercely patriotic company, fully committed to achieving & participating in every conceivable way in the progress & integrity of India.

• We are committed to obey all the laws of India & the countries in which we do business & to do our part to make the communities in which we live better.

9. Caring

• Compassion, sharing & kindness are values that we try to inculcate in our decision making process to achieve fairness.

• It is imperative that each one of us gets intensely driven from the heart towards upholding of these values in our day to day conduct. This initiative will further stimulate the creation & maintenance of a highly ethical work environment.

Suggestions to follow ethics

•  Be Trustful Recognize customers want to do

business with a company they can trust; when trust is at the core of a company, it's easy to recognize. Trust defined, is assured reliance on the character, ability, strength, and truth of a business.

• Meet ObligationsRegardless of the circumstances, do

everything in your power to gain the trust of past customer's and clients, particularly if something has gone awry. Reclaim any lost business by honouring all commitments and obligations.

• Keep An Open MindFor continuous improvement of a

company, the leader of an organization must be open to new ideas. Ask for opinions and feedback from both customers and team members and your company will continue to grow.

• Have Clear DocumentsRe-evaluate all print materials

including small business advertising, brochures, and other business documents making sure they are clear, precise and professional. Most important, make sure they do not misrepresent or misinterpret.

• Become Community InvolvedRemain involved in community-

related issues and activities, thereby demonstrating that your business is a responsible community contributor. In other words, stay involved.

• Be RespectfulTreat others with the utmost of

respect. Regardless of differences, positions, titles, ages, or other types of distinctions, always treat others with professional respect and courtesy.

• Maintain Accounting ControlTake a hands-on approach to accounting

and record keeping, not only as a means of gaining a better feel for the progress of your company, but as a resource for any "questionable " activities. Gaining control of accounting and record keeping allows you to end any dubious activities promptly.

Thank

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