DALLAS, March 7, 2016 /PRNewswire/ -- For the tenth consecutive year, Texas Instruments (TI) (NASDAQ: TXN), has been recognized as a 2016 World's Most Ethical Company® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.
This recognition underscores the company's commitment to leading ethical business standards and practices. This year TI is among 131 honorees from 21 countries and five continents, representing 54 industries. The full list of the 2016 World's Most Ethical Companies can be found here.
"While expectations for companies will likely become even more complex in the next decade due to fast-changing technology and globalization, ethics will continue to be a foundational requirement for doing business. Being a responsible corporate citizen is not an option, it's an absolute requirement," Richard K. Templeton, chairman, president and chief executive officer (CEO) of Texas Instruments, said.
This year marks the tenth anniversary of Ethisphere and the World's Most Ethical Companies designation which recognizes those companies who align principle with action, work tirelessly to make trust part of their corporate DNA, and in doing so, shape future industry standards by introducing tomorrow's best practices today.
"We will continue to view our ability to operate ethically and lawfully as an asset – as vital as the technologies we develop and bring to the marketplace. We are committed to applying the highest ethical standards of integrity to every aspect of our business, demonstrating the respect we have for our customers, suppliers, investors, employees and the communities in which we operate," TI Senior Vice President and General Counsel Cynthia Hoff Trochu said.
"Texas Instruments' core values of integrity, innovation and commitment are clearly communicated throughout their organization and set the expectations and standards for daily decision-making among their workforce," explained Ethisphere's CEO, Timothy Erblich. "We commend their support of STEM education programs and their commitment to the communities in which they operate. Congratulations to everyone at Texas Instruments for being recognized as a 2016 World's Most Ethical Company."
Methodology & Scoring
The World's Most Ethical Company assessment is based upon the Ethisphere Institute's Ethics Quotient™ (EQ) framework developed over years of research and vetted and refined by the expert advice for the tenth year from Ethisphere's World's Most Ethical Company Methodology Advisory Panel. The EQ offers a quantitative way to assess a company's performance in an objective, consistent and standardized way.
The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35 percent), corporate citizenship and responsibility (20 percent), culture of ethics (20 percent), governance (15 percent) and leadership, innovation and reputation (10 percent) and provided to all companies who participate in the process.
Best practices and insights from the 2016 honorees will be released in the form of a whitepaper and infographics over the next few months. Organizations interested in how they compare to the World's Most Ethical Companies are invited to participate in the Ethics Quotient.
About Texas Instruments
Texas Instruments Incorporated (TI) is a global semiconductor design and manufacturing company that develops analog ICs and embedded processors. By employing the world's brightest minds, TI creates innovations that shape the future of technology. TI is helping more than 100,000 customers transform the future, today. Learn more at www.ti.com.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World's Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere magazine. More information about Ethisphere can be found at: http://ethisphere.com
SOURCE Texas Instruments