Page 118 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
Ethics/ Code of Conduct
Performance Monitoring
THP recognizes the importance of conducting business ethically, which is a fundamental aspect of promoting and enhancing good corporate governance. Therefore, the organization has established an ethics policy for conducting business to ensure that the legal rights of stakeholders are well protected and respected, all stakeholders are treated equally and operations are transparent and auditable. This consists of Practices and Guidelines for Organization Management that set guidelines for presenting the responsibility of THP's business operations with honesty, transparency, accountability, and fair treatment of all relevant parties with respect, sincerity, and friendliness; and Practices and Guidelines for Stakeholder Groups that emphasize the importance of the treatment of all stakeholders to meet their needs while fostering satisfaction. Furthermore, THP encourages directors, executives, and all employees to adhere to ethical standards and follow the ethical business policies set by the organization. THP has developed the Regulations of THP Board of Directors No. 15 Re : Code of Conduct of Thailand Post Company Limited, B.E. 2565 (2022), announced on 28 September 2022. Moreover, the ethics manuals for three levels have been prepared, including the Ethics Manual for Directors and Subcommittees of THP, the Ethics Manual for THP Executives, and the Ethics Manual for THP Operators, which are disseminated through various channels within the organization so that those involved are aware of and can use them as guidelines for their continued conduct.
To ensure that THP’s performance can achieve established goals efficiently, the THP Board of Directors plays an important role in handing over the policy and follow up the implementation, both financial and non-financial. A memorandum of agreement on performance evaluation (Performance Agreement : PA) has been executed with the Ministry of Finance on various dimensions, whereas the management keeps following up the performance on a regular basis through determined channels, such as the meetings of THP Board of Directors and the meetings of subcommittees. In this regard, THP Board of Directors places importance on accuracy and completeness of information on financial and non-financial performance. Results are analyzed and compared against established goals. Problems and obstacles are identified as well as corrective actions or improvements are suggested to ensure that operational objectives of the organization will be achieved.
116 Thailand Post Company Limited