Business consulting

We offer professional know-how of business ethics, compliance, organizational culture and leadership thus ensuring added value to your company. We also help companies develop, implement and improve their ethics and compliance programme in line with legal regulations and best international business practice.

Codupo can help you:

  • assess, develop and implement ethics and compliance programme
  • identify and mitigate risks of compliance and business ethics
  • implement efficient educational programmes and communication on all organisational levels
  • build integrative organizational culture

Creation of a code of conduct

Codupo acts as a partner in the process of developing a code of conduct by leading companies through the process of initiating creation of the code of conduct, change or upgrade of an existing one.

Codupo delivers all-encompassing innovative solutions which are tailor-made for your company and your industry by connecting core values of your company with behaviours and inclusion of employees on all levels to improve business goals, minimize risks, build trust of all the stakeholders and strengthen company’s reputation.

We advise our clients on the structure of the code of conduct, and we determine the contents of the code of conduct by choosing appropriate thematic terminology together. We advise language style and tone adjusted for your culture and business.


Assessment of ethics and compliance programme

Codupo has developed adaptable and cost-effective procedure for the assessment of ethics and compliance programme which enables objective analysis of the programme and offers practical guidelines that will help you adjust certain areas and ensure programme efficiency.

Programme assessment contains:

  • efficiency assessment of the entire ethics and compliance programme as well as appropriateness of certain programme criteria,
  • determining internal perception of the programme,
  • plans for further activities,
  • mitigating risks and promoting integrative behaviour.

Designing unique programme adapted to your needs

Unique Design Solution Solution is a multidimensional solution that includes strategic, tactical and operational level of the company. It begins with the assessment of the strategic risk and analysis of comprehensive company needs. Risk profile of your company, employees and business units is made through this structured overview. Depending on the outcome of the assessment and analysis, a unique programme with appropriate type, level and combination of educational tools is created, and it completely engages employees encouraging their compliance with the mission, vision and fundamental values of the company.


Trainings and education tailored for clients

True success of an ethics and compliance programme depends on how well employees and other stakeholders are acquainted with it and to what extent they have adopted its components. Companies implement education programmes to nurture the culture of compliance, respect and integrity.

Our trainings and education:

  • They are adapted to the specificities of companies, certain departments and participants.
  • They are adapted to resolving real needs of individuals and companies.
  • They are based on learning by doing and experiencing where participants immediately have the opportunity to apply gained knowledge
  • They are shaped so that they support values, mission, vision and goals of your company
  • Duration of the education and trainings depends on the needs and specificities of client’s request

Training topics:

  • Train the Trainer – how to lead a team or department by applying ethics and compliance
  • Integration of ethics and compliance programme into the company strategy
  • Understand and assess the risk of ethics and compliance in business
  • Managing ethics and compliance risks with third parties
  • Due diligence prior to mergers and acquisitions (assessment of ethics and compliance risk)
  • Tools and strategies for the prevention of corruption
  • Conflicts of interest
  • Anti-corruption case law and trends

Guest lectures

Our experts partake in many lectures and events at faculties and conferences.

Contact us if you would like to get more information about our guest lectures and panels.


VIG Model

VIG Model comprises three fundamental elements needed for the functioning of integrative organisation culture: Values, Implementation and Governance. It serves as the basis for successful business operations of a company in modern, highly regulated business environment. The model is a result of a long time theoretical and empirical research made by the author Silvija Vig, M.Sc.

VIG model

Values

Every company should have values that make the foundation and culture of their business. They determine how decisions are made and serve as the basis for the code of conduct which, together with vision and mission, displays the way company interacts with all the stakeholders.

"Values are actually behaviours that set the principles of company business operations" - Jack Welch

Implementation

In order to communicate ethics and compliance programme in the company effectively, it is first necessary to make sure employees understand and adhere to the rules and code of conduct. Top notch programmes encourage employees to express themselves and use the values of the company as the framework when making decisions.

"Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you." - Warren Buffet, CEO Berkshire Hathaway

Governance

The goal of corporate governance is to boost effective, innovative and wise management that can yield positive long-term results. One of the key roles of corporate governance includes setting up a culture, values and integrativeness of a company based on fulfilling legal regulations and compliance.

"Promoting a culture of integrity may not always be a high corporate priority, but failure to [do so] represents a strategic (…compliance) risk that threatens long-term competitive advantage." - Leslie Altizer, executive director, CELC


FAQ

When do you need to revise the code of conduct?

  1. Regulatory changes
  2. Constant changes of ordinances regarding environment protection, labour law, corporate governance or new rules, regulations and contractual demands result in need to revise the code of conduct.

  3. Changes in company business operations
  4. If there are changes in your company’s business operations, this may mean it is exposed to new or additional risks that are not contained in your code of conduct. Mergers, acquisitions, launching new products or technological progress affect revision of the code of conduct.

  5. New leadership and organisational structure of the company
  6. Changes in leadership and management demand consolidation of the code of conduct from companies and communicating unique message to employees. Arrival of a new president of the board or an executive director requires amendments of the code of conduct to ensure that it precisely reflects the vision and tone of new leadership. In addition, companies need to revise their code of conduct if there are changes in the employee structure, changes in responsibilities of management oversight or type of their tasks.

  7. Identification of potential risk
  8. After assessing potential ethics and compliance risks, it is necessary to ensure that the code contains and details new risks.

  9. Code is a purpose itself
  10. Code should be clear and intelligible to all employees e.g. if the words like dignity, integrity, conflict of interest, morale, ethics etc. are not clearly explained, employees can interpret those terms how they deem right.

  11. Time elapsed
  12. It has been two years since you last revised or updated the code.


Why introduce ethics and compliance programme?

Effective ethics and compliance is the key component of company’s internal audit. Such effective programmes are tailor made according to the specific business operations and related company risks. They are dynamic and evolve together with market changes. Effective ethics and compliance programme promotes organisational culture that encourages integrative behaviour and dedication to legislative compliance. It protects company reputation, ensures value to investors, mitigates insecurities in business transactions and safeguards company property.

Nowadays, companies need to satisfy a myriad of demands including legal regulations and business standards of certain industries. Apart from laws regulating business operations of companies, financial and other institutions in the Republic of Croatia and/or international markets (FCPA, SOX, USSC, UK Anti-Bribery Act etc.), there are many other regulations, ordinances and standards (MiFID, Basel Committee, EU directives, OECD guidelines, ICC guidelines and UN Global Compact guidelines, fundamental principles of financial market corporate governance, quality standards ISO-9001 and other) that prescribe transparency, compliance and integrativness of business operations. Therefore, integrative and compliant governance is a tool that helps companies increase their efficiency, innovativeness and competitiveness in a complex business environment. Companies which apply ethics and compliance programme recognise it as the cornerstone of their competitiveness and long term business success.


What are the purpose and benefits of ethics and compliance programme?

Efficient ethics and compliance programme is a key component of internal audit that promotes organisational culture, encourages integrative and innovative behaviour and legislative compliance.

The main benefits for a company implementing the programme are as follows:

  • strengthened reputation and goodwill,
  • minimised risks,
  • decreased costs,
  • protection from unethical employees and agents,
  • better results, productivity and competitive edge,
  • better access to capital, loans and foreign investments,
  • improved profits and sustainable long term growth,
  • increased international reputation.

"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." - Warren Buffett, CEO Berkshire Hathaway


Why manage risks?

In modern business environment, risk assessment processes are far more complex than ever before, hence, the role of ethics and compliance has become crucial for many world corporations and holds a very important place atop of an organisation. Legal regulatory risks and ethics and compliance risks can arise in various forms inside the company as well as outside of it with third parties e.g. fight to combat corruption, conflict of interest, prevention of money laundering, confidentiality and intellectual property, social responsibility and sustainability, privacy and data protection, information safety, environment, health and security.

  • Is risk policy implemented in your business system?
  • Are potential risks adequately covered with guidelines and business principles?
  • Is risk assessment used when adopting strategic decisions?
  • Is due diligence used in the assessment of third parties?

What is integrative organisational culture?

Organisational culture affects innovativeness, integrity and success so it is a goal of every company to create strong integrative organisational culture supported by strong integrative leadership. Leadership has to provide the structure and ethical guidelines which is something they can do best if they use multiple formal and informal systems of culture. If leadership wants to create strong integrative culture, the first step would be to understand the current condition and get the answer to the question: what is the key message of the organisational culture that the company emits about integrativeness?

The goal of creating integrative culture is not only to implement ethics and compliance programme, instead, it has multiple roles as the process of creating innovative, profitable and long term sustainable culture where employees feel safe enough to freely ask questions and examine problems in business environment. Codupo and its VIG Model integrates Values, Implementation and Governance and creates a new approach to managing integrative organisational culture.

"If companies are not managing culture, culture is managing them." - Keith Darcy, executive director, ECOA