Saipem employs over 48000 people, comprises more than 127 nationalities, and the registered office is in San Donato Milanese (MI), Italy. This said, all the stakeholders to whom Saipem is committed can now be analyzed.
Saipem’s stakeholders are: Saipem has adopted a flexible and diversified approach to stakeholders’ engagement, considering their heterogeneity. It is highly committed on understanding and therefore identifying their relevance, its attractiveness for them, the sources of competitive advantage, and finally on selecting the most suitable Key Performance Indicators (KPIs). Therefore we can conclude that Saipem is highly concerned about its stakeholders, and keeps into great considerations their needs and interests, as well as …show more content…
The corporate governance of Saipem SpA is based on international best practice standards and, in particular, on the principles of the Corporate Governance Code of listed companies. The Board of Directors is the central body within Saipem's Corporate Governance system, solely responsible for the Company‘s management. Supervisory and control duties are the responsibility of the Board of Statutory Auditors whereas the External Auditors are responsible for auditing the accounts. Shareholders’ meetings are part of the corporate governance of the firm, and represent the institutional meeting point of the Company's management and its Shareholders. It appoints the Board of Directors for three years. At these meetings, Shareholders may ask questions pertaining to items on the agenda or the Company's management at large. The Board of Directors has also set up two internal corporate committees, with consultative and advisory functions: the Audit Committee, comprising non-executive independent Directors, and the Compensation Committee, comprising a majority of independent Directors, all of whom are non-executive Directors. The Company is a subsidiary of Eni SpA and is therefore subject to the direction and coordination of the parent …show more content…
In fact, there is a specific Security Management function at corporate level, enforced in highly risky countries by Group Security Coordinators, and a robust HSE Management System at three levels: corporate, operating companies and projects. Moreover there is a specific agency (ELIS) which is involved in selecting and training Saipem’s workers with specific educational programs. Consequently Saipem’s workforce is highly-skilled and multinational, and there’s homogeneity on compensation, quality targets and values, ensured with a variable system of pay-for-performance. This is in line with the company’s values of meritocracy and fairness.
CORE INSTITUTIONAL GOALS
Saipem is currently committed in returning to profitability, after the great loss in 2013, But 2013 was also a year of change. The Company underwent a noteworthy reorganisation process in order to equip itself with a structure that was more in line with its business strategy and more efficient in terms of business transparency and ethics, risk management, innovation, communications with external stakeholders and, finally, quality. Therefore the institutional goals are still the same: being as competitive as possible while maintaining a high level of efficiency, with everything it
Saipem’s stakeholders are: Saipem has adopted a flexible and diversified approach to stakeholders’ engagement, considering their heterogeneity. It is highly committed on understanding and therefore identifying their relevance, its attractiveness for them, the sources of competitive advantage, and finally on selecting the most suitable Key Performance Indicators (KPIs). Therefore we can conclude that Saipem is highly concerned about its stakeholders, and keeps into great considerations their needs and interests, as well as …show more content…
The corporate governance of Saipem SpA is based on international best practice standards and, in particular, on the principles of the Corporate Governance Code of listed companies. The Board of Directors is the central body within Saipem's Corporate Governance system, solely responsible for the Company‘s management. Supervisory and control duties are the responsibility of the Board of Statutory Auditors whereas the External Auditors are responsible for auditing the accounts. Shareholders’ meetings are part of the corporate governance of the firm, and represent the institutional meeting point of the Company's management and its Shareholders. It appoints the Board of Directors for three years. At these meetings, Shareholders may ask questions pertaining to items on the agenda or the Company's management at large. The Board of Directors has also set up two internal corporate committees, with consultative and advisory functions: the Audit Committee, comprising non-executive independent Directors, and the Compensation Committee, comprising a majority of independent Directors, all of whom are non-executive Directors. The Company is a subsidiary of Eni SpA and is therefore subject to the direction and coordination of the parent …show more content…
In fact, there is a specific Security Management function at corporate level, enforced in highly risky countries by Group Security Coordinators, and a robust HSE Management System at three levels: corporate, operating companies and projects. Moreover there is a specific agency (ELIS) which is involved in selecting and training Saipem’s workers with specific educational programs. Consequently Saipem’s workforce is highly-skilled and multinational, and there’s homogeneity on compensation, quality targets and values, ensured with a variable system of pay-for-performance. This is in line with the company’s values of meritocracy and fairness.
CORE INSTITUTIONAL GOALS
Saipem is currently committed in returning to profitability, after the great loss in 2013, But 2013 was also a year of change. The Company underwent a noteworthy reorganisation process in order to equip itself with a structure that was more in line with its business strategy and more efficient in terms of business transparency and ethics, risk management, innovation, communications with external stakeholders and, finally, quality. Therefore the institutional goals are still the same: being as competitive as possible while maintaining a high level of efficiency, with everything it