Corporate governance broadly refers to “the mechanisms, processes and relations by which corporations are controlled and directed”*. Fuji Xerox (Hong Kong) has adopted robust management systems, processes and mechanisms to govern our business operations and give our stakeholders a greater voice.
* Source: Wikipedia
- Business Continuity
- Governance and Risk Management
- Information Security
- Carbon Management
- Climate Action
- Responsible Consumption and Production
- Sustainable Procurement
- Supply Chain Management
- Peace, Justice and Strong Institutions
In 2017, inappropriate accounting practices were discovered at Fuji Xerox New Zealand and Fuji Xerox Australia. Although being a separate operating company, Fuji Xerox (Hong Kong) learnt from these incidents. Our Managing Director hosted compliance training for all employees in Hong Kong to reaffirm the importance for every member to be open, fair and clear in both attitude and behavior, so as to build an environment that encourages people to speak up when something is wrong. The training demonstrated the effectiveness of our decades-long PDCA-oriented management approach.
Strategically, the company is well structured with strong corporate governance, transparency and agility. In accordance with our operational guidelines, the Managing Director Office – chaired by the Managing Director and supported by our Senior Management Committee (SMC) – develop three-year strategic plans that cover planning, execution, feedback and improvements to ensure our sustainable business success. These plans and their objectives are then shared via annual meetings to ensure that all employees understand the latest direction and are able to meet new challenges. Besides, the SMC hold monthly meetings to discuss customer opinions, policy deployment, business performance, key marketing campaigns, social responsibility, staff engagement and other issues. Comprehensive guidelines and procedures have been formulated by the SMC, which serves as the Management Review Committee, to support the corporate governance framework, such as the ISO 14001 Environmental Management System, ISO 50001 Energy Management System, ISO 27001 Information Security Management System and ISO 22301 Business Continuity Management System. Periodical reviews are also carried out to ensure the overall effectiveness of our systems and facilitate necessary improvements. At the department level, managers and staff hold regular meetings to review business performance, operational quality, environmental health and safety, and human- and community-related matters.
Sustainability and risk management are the top priorities of Fuji Xerox (Hong Kong)’s business development plan. Striving to incorporate these concepts into every aspect of our operations, the senior management team holds regular meetings to identify, discuss and determine key risk management items.
As part of the continual process enhancements under the PDCA cycle, we have embedded the Japan Quality Program in our management framework. The program consists of eight criteria, each of which is given a different weighted score (total score 1,000 points) as shown in diagram below.
This not only helps us better assess our current situation from an organizational perspective, but also highlights the effectiveness of our management objectives and identifies key areas for sustainable development. Currently, the program works in synergy with the Japanese Sarbanes Oxley (J-SOX) model, which introduces strict rules for the internal control of financial reporting to protect investors by improving the accuracy and reliability of corporate disclosures, as well as other standards and guidelines that help Fuji Xerox (Hong Kong) to manage risks properly.
Our general legal and financial policies lay the foundation of our compliance and internal controls. We conduct self-assessments and external management system audits, and rigorously benchmark legal compliance to maintain the integrity of our general business processes. We also conduct annual self- evaluation of our code of conduct for all employees to ensure that we meet a higher ethics standard in line with our parent company Fuji Xerox. Under this code, we respect basic human rights, and maintain an open, fair and transparent operation. Other specific areas it covers include, but are not limited to, prevention of discrimination and harassment, privacy, labor rights, forced and child labor, workplace health and safety, communications, information disclosure, fair competition, sales activities and procurement, prevention of corruption and the rejection of antisocial forces. In terms of financial control, we have followed stringent financial policies and guidelines to monitor the implementation status with regular review by SMC. On top of internal audit, we have undergone independent financial audit performed by third-party verifiers annually.
In the past few years, we reassessed the required elements and additional significant subjects that went beyond the scope of Fuji Xerox (Hong Kong)’s certified ISO systems and localized policies and procedures, so as to ensure a comprehensive coverage and maintain a high level of ESG compliance thought we are not required to do so, as a non-listed company in Hong Kong.
Managing Business Risks
Managing Environmental Risks
Managing Information Security Risks
Managing Supply Chain Risks
|Security and Safety Criteria|