IMC conducts research and development in the areas of pharmaceutical, logistics and supply chain compliance technologies. IMC employs talented and creative people to integrate existing skills, expertise and technologies complemented by new inventions to meet user requirements. IMC endeavours to be a global player in its fields of excellence and to provide a stimulating, supportive, and rewarding environment for its employees and partners.
IMC espouses five core values: creativity, technical, financial and operational discipline and common sense:
Creative Thinking – Creativity is based on a fundamental human quality: curiosity. Creative thinking comprises flexibility, originality, fluency, associative and metaphorical thinking. By being curious and looking around us we can develop new solutions, abandon old tracks and forge new paths. This is often referred to “thinking outside the box”.
Technical Excellence – Scientific and technical expertise are required to convert creative thinking into real products and solutions. Fundamentals form the “grammar” of everyday development and engineering. Embracing fundamentals allows us to better understand our world.
Operational Discipline – Today’s global economy is organized through standards. Standards are based on disciplined processes, quality management systems, and controls and policies, as specified in the constitutions of ISO, GMP and other standards blueprints. Operational discipline promotes better communication, even across geographic and language barriers, and yields efficiency, reproducible quality, and allows us to satisfy customer requirements through timely delivery of high quality products.
Financial Management – Money is the basic business driver. It pays salaries, it pays rent, and it supports daily activities. In an ideal business, money is a renewable resource that must be managed and cared for. It is also a limited resource requiring respect. Sound financial management requires a fair approach to resource allocation and balanced management of risks, costs, benefits and profits.
Common Sense – Common sense is the acid test of every decision made by or for an individual. It is about prudence and sound judgment. Common sense is subjective and involves personal experience, study, research, knowledge and belief. The application of common sense to judging others’ decisions is difficult, because it requires not only one’s own view, but an empathetic view of the world from the perspective of other people, cultures, environments, and educational backgrounds.
Prohibitions against Bribery and Corruption of Officials
Basic criminal statutes of virtually all countries prohibit extortion and bribery. Under no circumstances will IMC, directly or indirectly, knowingly offer or give a bribe to a government official. Further, IMC will not support a transaction that involves the offer or giving of a bribe to foreign officials, and will exercise reasonable diligence and care not to support unknowingly such a transaction.
As a Canadian company we pride ourselves in valuing ethical standards of conduct in our business, worldwide. For some time now, Canada along with other OECD countries, has instituted tough anti-corruption legislation. In particular, EDC, the Canadian Government Agency promoting export business for Canadian companies, require us to sign an undertaking against the practice of bribery and corruption of foreign officials.
Why is corruption bad?
- Corruption is a criminal offence in many countries. Violations of these laws can devastate our business, or result in jail or fines for offenders
- Corruption adds costs without necessarily increasing revenues
- Corruption weakens the rule of law and inhibits economic development in emerging economies
- Corruption will damage our company's reputation and inhibit our ability to do business
Worldwide operation, as well as financial backing from Canadian Government Agencies require us to commit to anti-corruption ethics. This means that we have to be pro-active in assuring that none of our employees, agents, and business partners use bribes or corruption to facilitate transactions, or that as a company we benefit from such facilitations.
Corruption is a Criminal Offence, punishable by up to 10 years imprisonment and substantial fines. Similar laws exist in most countries, and even in countries known for corruption, these laws may still be enforced under any circumstance.
As an employee of our company you MUST NOT engage in giving bribes to officials. As well, you MUST observe agents acting on behalf of our company and representing our company and products/services, as well. As management you must prevent such behaviour and be watchful of evidence of such actions.
There are a number of indicators of potential corruption. These red flags should alert you to further investigate - the list is by no means exhaustive:
- Does your agent / counter-party / supplier have a good reputation? Has the agent or employee had any bribery convictions in the last 5 years anywhere in the world?
- Is the jurisdiction in which you operate known for corruption? Make sure your strategy for dealing with requests for bribes - a firm "no" - is determined well in advance.
Any unexplained payments or numbers that do not add up or are not ‘businesslike’ may be indications of irregularity.
- Have you clearly said "no"?
Failure to say "no" can lead to the misunderstanding that your company might consider loans, rewards, or benefits of other kinds for a foreign official.
- Are others informed about your anti-corruption policy?
You should clearly inform agents and all employees, especially those working outside Canada, of your company’s unwavering anti-corruption policy and require them to refer troublesome situations to your head office for direction.
Typically, the activities of an agent may expose our company to liability, as well. The agent's actions may be or be deemed to be those of the principal and for which the principal must bear full responsibility, depending on many factors. The responsibilities and liabilities of a principal for the acts of its agent are no different with regard to the new anti-corruption law than they are with regard to other matters.
Not all payments and compensations are considered corrupt, and there are guidelines available, but if you are in doubt at all, please refer the matter to senior company management immediately for review and approval. Generally, routine holiday gifts, promotional items and gifts, reasonable expense reimbursements are examples not considered bribes.