Since 2000, the foundation of the Business Ethics Prize, it has been a renowned recognition in Hungarian business life. It was established by Professor Ervin László, Chairman of the Budapest Klub, and Mária Demcsák, founder and chief editor of Piac & Profit business magazine, with a view to draw attention to domestic businesses that set an example by their activity in responsible and ethical management, business presence and strengthening trust between society and the business sphere.
This year 46 companies submitted eligible applications, through nominations by economic actors and chambers, and also individually. KAV Hungária is one of the companies awarded a prize.
The panel, consisting of the founders and managers of earlier winners, decided on the basis of a separate set of criteria, including the importance of consciousness and social commitment towards a liveable and sustainable world for the individual company.
The Business Ethics Prize was awarded at the awards ceremony held by Piac & Profit in the evening of 16 November. This event was the closing event of the Hungarian Sustainability Summit, as before.
The management of KAV Hungária would like to say thank you for the Prize and extends its congratulations to the other winners.
Winners of the Business Ethics Prize in 2016
Set of award criteria for the Business Ethics Prize:
1. The company’s ethical conduct towards its employees
2. Company owners’ ethical conduct while exercising their ownership rights
3. Ethical business behaviour towards customers and business partners
4. Corporate responsibility
5. Responsibility towards the environment
Essential conditions for ethical business conduct in the twenty first century
1. The company demonstrates its responsible way of thinking through its acts. It assumes responsibility for its employees, for the well-being of its closer and broader environment, society’s development, the reversal of negative climate change processes and improving equal opportunities.
2. The company’s acts are not primarily motivated by economic gains at any price but also by taking care of others and considering their well-being.
3. The company is able to re-evaluate its expected business gains, by keeping in mind the interests of its closer or broader human, natural, and business environment, and it is able to transform the set of goals underlying its acts for the sake of higher objectives, sustainable development.