Corporate responsibility at Novo Nordisk
Corporate sustainability has evolved naturally from the values and principles that have guided the company since it was founded. The Novo Nordisk Way of Management is the framework for how we do business. It consists of three elements: the Vision, the Charter and a set of 13 global company policies in specific areas. Our vision states that we will make a successful business led by a strong set of values and respect for the communities of which we are a part.
In Novo Nordisk’s Articles of Association it is stated as the objectives that the company ‘strives to conduct its activities in a financially, environmentally and socially responsible way’. This implies that any decision should always seek to balance three considerations: Is it economically viable? Is it socially responsible? And is it environmentally sound?
This is the Triple Bottom Line business principle, which ensures that decision-making balances financial growth with corporate responsibility, short-term gains with long-term profitability and shareholder return with other stakeholder interests.
The Triple Bottom Line is how Novo Nordisk has chosen to interpret its commitment to sustainable development. It is built into the corporate governance structures, management tools, individual performance assessments and reward schemes.
Stakeholder dimension
We need to stay attuned to emerging trends and ‘hot issues’ on the global agenda in order to respond and to contribute to the debate. Stakeholder engagement is an integrated part of our business philosophy. We have long-standing engagements with stakeholders that are vital for building trust and understanding of a variety of issues. By involving stakeholders in the decision-making processes, decisions are better founded and solutions more likely to succeed. Stakeholders are defined as any individual or group that may affect or be affected by a company's activities.
