Entrepreneurship

I think the best path for me would be a mixture of both a businessman and entrepreneur. But if I had to choose just one it would be Entrepreneur.  Some traits or strengths that I see aligning with my conclusion of entrepreneur would be valuable time with my family and providing for me and my family as well as the idea to never stop learning.  These are just some examples of the strengths I see that would make me an entrepreneur instead of a businessman. Some weaknesses though are the fact that to have a career I need to make money to go to college and graduate school. By making money I would have to have one of those jobs that take away from the family time and the need to learn since I would not have enough hours in the day to do all of that. I think that once I finish school and find that career I would be in better position to have that family time and commitment to never stop learning. I wouldn’t say that entrepreneurship is just about starting a business. I would say that it is partly that and partly about making your own decisions in both a personal and professional capacity. From the traits it looks like a businessman tries to have a family but is more about the job whereas an entrepreneur has more emphasis on the family instead of the business. I think that you can be an entrepreneur on your own terms because in the end it only matters what you think and not what someone else thinks. In the future, I would think that the more successful one or the happier one would be the one who thinks that they themselves are happy by their terms not someone else’s. But if I had to choose,  I think that the entrepreneur would be the more successive one and be the happier one. The businessman is just someone who is trying to be successful in their career since that is first priority to them; but the entrepreneur’s first priority is his family and then his business. Both are equally important to him but his family would be the number one.

Implementing a Lean Process

 I noticed that our desk drawers had folders, papers and just random things in it that we hadn't used in a while or we just didn't need anymore; so I threw all that away to give room for the papers and folders we are using now so that the desk top would stay clean. So far this lean process seems to be working now that my family knows where to put certain papers and folders and they have a specific spot instead of just everywhere. This is waste that may not be huge but is still waste that was necessary for a lean process to occur.

Criteria for Evaluation

Review criteria
          Attendance/participation
          Tasks Accomplished

Communication

Enthusiasm

Professionalism

Contribution

   
Peer Evaluation
    each person is ranked from 1-11 (1 being better)
    each person is given one number, no reusing numbers

5s system

So as you can see in the before picture my family’s community computer desk was not very organized and it was very messy. As part of the 5s system I went and took each step one at a time and bit the best I could. So I moved all the unnecessary things off of the desk straight off and put them in a pile for now (step 1). I then made a place for anything and everything. I made it so that it was easy access to the key board and the printer, made sure the mouse had room to move, moved all the papers to folders inside the drawers and on the shelf right next to it (step 2). After finding places for everything I proceeded to clean the counter, the keyboard, the printer screen and the computer screen inside and out (step 3).  When I was done I asked my family that they clean up their messes when done with the computer. (step 4). A couple days later I went to see if my family was practicing what I had asked and sure enough they were (step5) Steps 6-8 are pretty self explanatory in terms of safety, security and satisfaction. I am happy with the results of this system. 

Before

After

Quality Management

 The Biotechnology Industry Organization (BIO) has just implemented a system to help control the full life cycles of the biotech plants in the future called Excellence through Stewardship. The objectives of this program:

1. Fully comply with applicable regulatory requirements,
2. Seek to achieve and maintain plant product integrity, and
3. Work to prevent trade disruptions in order to facilitate the flow of goods in commerce.

This program/Guide helps make sure that all companies that are biotech food friendly comply to the latest regulations and laws and help make sure that the foods themselves are grown(made) to the best quality assured. But it being a new system it is sure unsure of what is needed in the realm of GM foods.

Specific Ethical question

My field of interest is in Biotechnology and how we can develop new ways to find answers to medical questions, alternative energy situations, etc. A question that has come up in this field is whether or not we should be genetically modifying foods (GM foods).

Supporters of GM food say that the food can potentially produce higher crop yields, which could help by feeding more people in developing countries. Better financial gain in the long run, improved food quality. These foods can be designed to stay fresher longer and with stand diseases better than normal foods which would extend the shelf life of the food. They can be engineered to withstand extreme weather conditions which will again produce higher crop yields in those poor season with bad weather. For example if it was an extremely dry summer certain fruits would not be able to survive well and not produce a lot causing a shortage. With GM foods they would not need the weather to cooperate to produce enough to not cause that shortage. These foods could also be designed to have better nutrition content. They can be designed to give more of the vitamins and nutrients we take from them. Which would help in our attempts to stay healthy.

People against GM foods also have reason to support not modifying our foods. One reason is that the GM foods has the ability of a food to trigger an allergy in humans. Some of the genes used in GM technology might be taken from a food that causes allergies in some people. Inserting that gene into another organism could cause the host organism to express that allergen as a trait. Alternately, a new allergen could be produced when genes are mixed across different species.Another reason is the food could cause organisms in the ecosystem could be harmed, which would lead to a lower level of biodiversity. By removing one pest that harms the crop, you could be removing a food source for an animal and so on. Also, GM crops could prove toxic to an organism in the environment the food is grown and potentially lowering the count of the organism and possible leading to extinction of that organism. There is also fear that GM foods will cause the formation of new diseases since some  are modified using bacteria and viruses.

I personally don't see why we aren't doing this to a lot more foods. I feel that the pros far outweigh the cons. Yes there is a potential to create a new allergy, but doesn't that already happen with the formation of new drugs? But if the possibility to stop hunger is real then I think that would be better than trying to prevent things that may or may not happen. If It was a sure thing that these foods caused new allergies and caused new disease formation then I am sure I feelings would change, but there is still uncertainty to whether or not these issues will occur.

http://www.geneticallymodifiedfoods.co.uk/fact-sheet-pros-vs-cons.html
http://www.ornl.gov/sci/techresources/Human_Genome/elsi/gmfood.shtml

Project Title and Action Plan

Solar Energy Project

Ethic Question

I don't know what I would say on this matter. I understand why the Pharmaceutical Reps potentially bribe doctors into buying/promoting the drug they are selling, but I think that there is a fine line that should not be crossed in this situation. If the Rep is just offering them once that is okay, but if they keep coming with it then I would say that is not ethical. Pushing someone into a situation they don't want or they shouldn't have to deal with is unethical in my opinion.  I also  don't think that they should bribe the doctors. If they give enough information on the drug to the doctors then they wouldn't need to be bribed into buying or promoting, etc., and their product would have a better chance at making it into the open market.

General Ethics

Here are some ethical code of conduct for some countries in the biotech field. There was not much on ones in Israel and China.

United States

The American Board of Forensic Toxicology expects all persons holding a Certificate of Qualification from this Board to maintain the good moral character, high integrity, good repute, and high ethical and professional standing which are initial and continuing qualifications for recognition by this Board, and to conform to the following principles of ethical conduct:

• Conduct themselves with honesty and integrity at all times.
• Perform all professional activities in Forensic Toxicology with honesty and integrity, and refrain from any knowing misrepresentation of their professional qualifications, knowledge and competence, evidence and results of examinations, or other material facts.
• Hold in proper confidence all information obtained or received in the course of their professional practice, and refrain from misuse of any such information.
• Strive to be aware of and alert to any actual or potential conflicts of interest, and strive to avoid or appropriately resolve any such conflicts.
• Maintain and enhance their qualifications and competence for the practice of Forensic Toxicology, to the best of their ability.
• Act in accordance with the long-standing precepts for ethical practice of the profession of Forensic Toxicology, and refrain from any action or activity, which would tend to bring disrepute upon or otherwise harm the profession of Forensic Toxicology or the American Board of Forensic Toxicology.

BioCon in India

Conflicts of Interest - A conflict situation can arises:
When an employee, officer, or director takes action or has interests that may make it difficult to perform his or her work objectively and effectively,
- The receipt of improper personal benefits by a member of his
   or her family as a result of one's position in the Company,
- Any outside business activity that detracts an individual's   ability to devote appropriate time and attention to his or her   responsibilities with the Company,
- The receipt of non-nominal gifts or excessive entertainment   from any person/company with which the Company has current or prospective business dealings,
- Any significant ownership interest in any supplier, customer,   development partner or competitor of the Company,
- Any consulting or employment relationship with any supplier,   customer, business associate or competitor of the Company.
- The directors, officers and employees should be scrupulous in   avoiding 'conflicts of interest' with the   Company. In case
  there is likely to be a conflict of interest, he/she should make   full disclosure of all facts and   circumstances thereof to the   Board of directors or any Committee / officer nominated for   this purpose by the Board and a prior written approval should   be obtained.
Honest and Ethical Conduct: The Directors, officers and employees shall act in accordance with the highest standards of personal and professional integrity, honesty and ethical conduct not only on Company's premises and offsite but also at company sponsored business, social events as well as any places. They shall act and conduct free from fraud and deception. Their conduct shall conform to the best-accepted professional standards of conduct.
Corporate Opportunities - Directors, officers and employees owe a duty to the Company to advance its legitimate interests when the opportunity to do so arises. Directors, officers, and employees are expressly prohibited from:
- Taking for themselves personally, opportunities that are   discovered through the use of Company's property,   information, or position,
- Competing directly with the business of the Company or with   any business that the Company is considering.
- Using Company's property, information, or position for   personal gain. If the Company has finally decided not to   pursue an opportunity that relates to the Company's business   activity, he/she may pursue such activity only after disclosing   the same to the Board of directors or the nominated   person/committee.
Confidentiality - The directors, officers and employees shall maintain the confidentiality of confidential information of the Company or that of any customer, supplier or business associate of the Company to which Company has a duty to maintain confidentiality, except when disclosure is authorized or legally mandated. The Confidential information includes all non-public information (including private, proprietary, and other) that might be of use to competitors or harmful to the Company or its associates. The use of confidential information for his/her own advantage or profit is also prohibited.
Fair Dealing - Each director, officer, and employee should deal fairly with customers, suppliers, competitors, and employees of group companies. They should not take unfair advantage of anyone through manipulation, concealment, abuse of confidential, proprietary or trade secret information, misrepresentation of material facts, or any other unfair dealing-practices.
Protection and Proper Use of Company's Assets - All directors, officers and employees should protect Company's assets and property and ensure its efficient use. Theft, carelessness, and waste of the Company's assets and property have a direct impact on the Company's profitability. Company's assets should be used only for legitimate business purposes.
Compliance with Laws, Rules, and Regulations: The Directors, officers and employees shall comply with all applicable laws, rules, and regulations. Transactions, directly or indirectly, involving securities of the Company should not be undertaken without pre-clearance from the Company's compliance officer. Any director, officer or employee who is unfamiliar or uncertain about the legal rules involving Company business conducted by him/her should consult the legal department of the Company before taking any action that may jeopardize the Company or that individual.
Compliance with Code of Conduct:
If any director, officer or employee who knows of or suspects of a violation of applicable laws, rules or regulations or this Code of conduct, he/she must immediately report the same to the Board of Directors or any designated person/committee thereof. Such person should as far as possible provide the details of suspected violations with all known particulars relating to the issue. The Company recognizes that resolving such problems or concerns will advance the overall interests of the Company that will help to safeguard the Company's assets, financial integrity and reputation.

CTS Arabia in Saudi Arabia

EQUALEMPLOYMENTOPPORTUNITY
AND FREEDOM FROM WORKPLACE HARASSMENT

CTS is committed to provide equal employment opportunity for all applicants and employees.  Individuals will be hired and promoted on the basis of their qualifications, performance and abilities.  CTS will maintain Affirmative Action Plans at each location as required by law.  Workplace harassment, whether verbal, written or physical, will not be tolerated.  We are determined to provide a workplace free from any type of illegal discrimination and harassment. 

CTS employment practices will comply in all respects with applicable state and federal laws.  It is the fundamental policy of CTS that:

·         Equal Employment Opportunity will be provided to all persons regardless of race, color, religion, sex, age, national origin, disability, veteran status or any other category protected by law.

·         All recruiting, hiring, training and promotions will continue to be done without regard to race, color, religion, sex, age, national origin, disability, veteran status or any other category protected by law.

·         All conditions of employment, including but not limited to compensation, benefits, transfers, layoffs, return from layoff, company-sponsored training, education, tuition assistance, social and recreational programs, will continue to be administered without regard to race, color, religion, sex, age, national origin, disability, veteran status or any other category protected by law.

CTS Corporation, its business units and subsidiaries will comply with applicable laws, rules, and regulations pertaining to Equal Employment Opportunity and, where deficiencies exist, will pursue remedies to correct those deficiencies.  CTS will maintain formal Affirmative Action Plans at each location which is required by law to do so.  CTS will take affirmative action to ensure that qualified applicants are employed and that employees are treated during employment without regard to their race, color, religion, sex, national origin, disability or veteran status.  CTS General Managers and Human Resources Managers will insure that all employee selection activities covered by the Federal Employee Selection Guidelines are carried out in a manner consistent with those Guidelines and that all such selections are based on bona fide occupational requirements. Workplace harassment is defined as offensive or unwelcome behavior or conduct toward an individual based on diverse human characteristics or cultural background (such as age, race, gender, national origin, disability, religion or any other diverse human characteristic) which substantially interferes with an individual’s employment or creates an intimidating, hostile or offensive work environment.  Workplace harassment does not refer to employee performance-based discussions or other appropriate business- related conversations.  Some examples of workplace harassment include continued or repeated verbal abuse; comments and joking about ethnic backgrounds, race, religion, physical characteristics, racial or ethnic stereotypes; and graphic or degrading comments about an employee’s appearance. Sexual harassment is a specific form of workplace harassment and is defined as unwelcome or unwanted conduct of a sexual nature when (1) submission to or rejection of this conduct by an individual is used as a factor in decisions affecting hiring, work assignment, evaluation, promotion or other aspects of employment, and/or (2) such conduct substantially interferes with an individual’s employment or creates an intimidating, hostile or offensive work environment.  Sexual harassment does not refer to occasional compliments of a socially acceptable nature or welcome social relationships.  Examples of conduct that may, depending upon the circumstances, constitute sexual harassment, include demands for sexual favors that are accompanied by a promise of favorable job treatment or a threat concerning the employee's employment; sexual flirtations, advances or propositions; verbal abuse of a sexual nature, sexually related comments and joking; the display of sexually suggestive objects or pictures; and uninvited physical contact or touching, such as patting, pinching, or constant brushing against another’s body. It is unlawful and a violation of this policy to retaliate in any way against an individual who makes a report of workplace harassment or who cooperates in an investigation of a complaint of workplace harassment.  Retaliation should be reported immediately.  Retaliation will not be tolerated and will subject the violator to discipline as set forth below.

HEALTH AND SAFETY

CTS is committed to promote the health and safety of its employees through compliance with applicable laws and regulations.  CTS expects its employees to support this commitment by complying with all CTS practices, rules and regulations regarding safety and by actively striving to identify opportunities for improvement in CTS' health and safety programs. CTS Corporation’s operations worldwide shall be conducted in compliance with applicable health and safety laws and regulations, and with a positive commitment to continuous improvement. 

ENVIRONMENTAL PROTECTION

CTS is committed to maintaining the quality of the environment in the communities in which it operates.  It is CTS' intent to comply with both the letter and the spirit of environmental laws and regulations.  CTS employees will treat the environment with care and engage in responsible business practices with respect to environmental management.

CTS Corporation is committed to treat the environment with care, recognizing this issue as global in nature.  It is CTS’ intent to be recognized as a responsible business committed to continual improvement in environmental management in all business activities.  To that end CTS will:

·         Comply with relevant environmental legislation and regulations, and with other requirements to which the organization subscribes.

·         Promote prevention of pollution through Waste Minimization/Recycling activities and other acceptable methods.

• Communicate this policy to all employees and make it available to the public.
• Regularly assess and audit the Environmental Management System (EMS) to ensure that environmental issues are properly addressed. 

COMPLIANCE WITH ANTITRUST LAWS

CTS is committed to compliance with the antitrust laws of the United States, and of such other countries as may be applicable to CTS' business operations.  We believe in fair and honest competition within the free enterprise system.  All employees who have periodic contact with competitors of CTS will be ever mindful of the existence of these laws and strive to avoid placing themselves in situations which might create even the appearance of impropriety.  Employees in management positions will be held accountable for taking the appropriate measures in their respective areas to achieve strict legal compliance, both by themselves and by their subordinates. It is the policy of CTS Corporation to comply with the antitrust laws of the United States, and other countries applicable to its business operations, and to hold employees in management positions personally and strictly accountable for taking the appropriate measures necessary to achieve this objective within their respective areas of responsibility.

COMPLIANCE WITH INTERNATIONAL TRADE CONTROLS

CTS is committed to compliance with U.S. laws and regulations designed to protect national security and promote U.S. foreign policy objectives, through the control of the export of U.S. goods and technology.  CTS expects its employees to have a working knowledge of applicable trade control laws and regulations, as they relate to their specific job responsibilities.  Those with job responsibilities related to export transactions will be expected to participate in appropriate training with respect to international trade controls.  It is the policy of CTS Corporation to strictly comply with U.S. international trade control regulations.  In order to ensure compliance, each employee whose job responsibilities relate to exports must have a working knowledge of these regulations as they may relate to his or her job responsibilities.  As a United States company engaged in international commerce, CTS must comply with U.S. laws which are designed to control the export of U.S. goods and technology in order to protect national security and advance foreign policy objectives.  U.S. international trade controls include export control laws, such as the Export Administration Regulations, the International Traffic in Arms Regulations and the Foreign Assets Control Regulations, as well as anti-boycott laws.  Violation of these laws may result in revocation of export privileges, substantial fines and criminal penalties.  Therefore, compliance is essential to CTS’ continued global manufacturing and sales growth.  The purpose of this policy is to affirm the CTS commitment to comply with international trade controls and to allocate responsibility for maintaining compliance. 

GIFTS, GRATUITIES AND POLITICAL CONTRIBUTIONS

CTS requires its employees to use only lawful business practices in promoting CTS' business or position to any governmental authorities, foreign or domestic.  Employees of CTS are prohibited from making or offering payments or gifts to customers, governmental officials, or political parties or candidates for the purpose of inducing or influencing any action by such entities.  Customer policies with respect to the acceptance of entertainment, gifts or other business courtesies are to be strictly respected.

No employee of CTS or any subsidiary or controlled affiliate acting on behalf of CTS shall, in violation of the Foreign Corrupt Practices Act (FCPA) or any applicable law, make or offer to make directly or indirectly, through any other person or firm, any payment of anything of value (money, gift, contribution, etc.) to:

·         Any person or firm employed by or acting for or on behalf of any customer, whether private or governmental, for the purpose of inducing or rewarding any favorable action by the customer in any commercial transaction; or any governmental entity, for the purpose of inducing or rewarding any action (or the withholding of any action) by a governmental entity or authority in any governmental matter; or

·         Any governmental official, political party or official of such party, or any candidate for political office, for the purpose of inducing or rewarding favorable action (or the withholding of action) or the exercise of influence by such official, party or candidate in any commercial transaction or governmental matter.

CTS will employ only reputable, qualified individuals and firms who agree to be bound by and act in accordance with the provisions of this policy, to act as consultants, agents, sales representatives or distributors, and only under compensation arrangements which are customary and reasonable in relation to the services provided.When customer organizations, governmental agencies or others have published policies intended to provide guidance with respect to the acceptance of entertainment, gifts or other business courtesies by their employees, such policies shall be strictly respected. The provisions of this policy are not intended to apply to ordinary and reasonable business entertainment and/or gifts of an insubstantial value, customary in local business relationships and not violative of the law as applied to that geography or environment. 

CONFLICTS OF INTEREST

CTS expects its employees to serve the company with undivided business loyalty.  Employees must avoid any relationships which create a perceived or actual conflict between the employee's obligation to the company and the employee's personal self-interest. CTS recognizes and respects the right of employees to take part in financial, business and other activities outside of their jobs, provided that these activities are lawful and are free of conflicts with and do not detract from, their responsibilities as Company employees.  Employees must not as a part of engaging in any outside activities, misuse Company resources or influence, or discredit the Company’s good name and reputation in any way.  Employees must never permit their personal interests to conflict, or create the appearance of conflicting with the interests of the Company or its customers.  CTS employees should be free from any personal relationships, activities, or financial affairs that might influence any business decisions or recommendations

INSIDER TRADING AND STOCK TIPPING

Insider trading, which involves the purchase or sale of a company’s securities while in possession of material nonpublic ("inside") information about that company, is prohibited by federal law, as is stock "tipping," which involves the disclosure of inside information about a company to others who purchase or sell the securities of that company.  Illegal activity with respect to insider trading and stock tipping is strictly prohibited by CTS

Definitions

"Inside information" means material, non-public information in the possession of a CTS director, officer or employee. 
"Material" means information that a reasonable investor would be likely to consider important in deciding whether to buy, sell or hold a security.  To minimize the risk of misjudging whether a reasonable investor would consider particular information to be important, a director, officer or employee should assume the information is important if it does, or would, affect his or her own consideration of whether to buy, sell or hold the security in question.
"Nonpublic" means that the information either has not been disclosed to the public or, if it has been disclosed, the time elapsed since the disclosure has not been sufficient for investors to fully evaluate the information. 
"Security" means any stock, bond, note, debenture, put or call option, or other instrument commonly known as a security.
General
CTS strictly prohibits any director, officer or employee from engaging in any activities that would violate the laws prohibiting insider trading and tipping.  Penalties for violations of laws prohibiting insider trading and tipping are severe.  Employees violating these laws could face criminal penalties of up to $1 million in fines and ten years in prison for each violation. In addition, violations of these laws could subject CTS to significant civil liability and fines.  Misuse of inside information in violation of this policy will result in disciplinary action by CTS.

SUPPLIER RELATIONSHIPS 

CTS is committed to the fair and impartial treatment of all persons and companies with whom it has business relationships, including its customers, suppliers and distributors.  Employees are expected to avoid situations where the giving or accepting of gifts or entertainment could be construed as an attempt to unduly influence a business relationship. An employee should not own any substantial amount of stock or other financial interest in, or participate in the business of, an actual or potential supplier of goods or services to the Company, if that employee is directly or indirectly involved in the Company’s business with the supplier.  The definition of what constitutes a “substantial” amount of stock or other financial interest will depend on the particular facts and circumstances in any given case.An employee should not accept gifts from any actual or potential supplier of goods or services, other than non-cash gifts of an insubstantial value which are generally used for promotional purposes by the supplier.  Participating in business-related functions, such as lunches or other meals, with a supplier, is a normal and permissible business practice.  However, each employee should exercise care that the value and frequency of such occasions are not excessive. An employee should not seek or accept loans from any supplier or any person or entity seeking to do business with the Company, except in the case of loans made by financial institutions in the normal course of business at interest rates prevailing at the time of the borrowing. An employee should not purchase items for personal use on a discounted or wholesale basis from actual or potential suppliers of goods and services to the Company, unless the personal purchases are made pursuant to a Company-sanctioned supplier discount program.When suppliers have published policies intended to provide guidance with respect to the acceptance of entertainment, gifts or other business courtesies by their employees, such policies shall be strictly respected. 

COMMITMENT TO QUALITY

CTS is committed to achieving Total Customer Satisfaction through manufacturing and operational excellence. Excellence in product quality, delivery, value and service can be achieved only if each and every employee is dedicated to these objectives. It is CTS’ goal to manufacture products that are free from defects in material and workmanship, comply with agreed-upon specifications and customer requirements, meet customer needs and exceed customer expectations.  CTS is committed to the continual improvement of all systems that affect customer satisfaction.  CTS’ endorsement of the elements of ISO 9000 and TS-16947 reflect this commitment. It is CTS’ policy continually to audit, review and improve its systems.  This is accomplished through benchmarking against other “best in class” systems, seeking customer input, and through employee education and training.

DEVELOPMENTANDPROTECTIONOFINVENTIONS AND OTHER INTELLECTUAL PROPERTY

CTS vigorously protects all CTS intellectual property, whether in the form of patents, trade secrets, copyrights, trademarks or confidential information, and  expects its employees to do the same. CTS is a technology driven company.  Rigorous protection of intellectual property, whether in the form of patents, trade secrets, copyrights or trademarks, is an integral and critical part of CTS’ business operations.  The CTS patent portfolio is one of the corporation’s most valued assets.  It is critical that CTS maintain a leadership intellectual property position in its technology areas.

FINANCIAL CONTROLS AND RECORDS 

CTS is required by law to maintain certain types of corporate records.  CTS requires that such corporate records be kept in a manner that fairly and accurately reflects the business transactions and other information that is being recorded.  Such records must also be preserved and retained, as required by law.  CTS also maintains a system of internal accounting controls.  Any improper handling of CTS funds and assets is strictly forbidden. Employees who believe that improper financial reporting or handling of funds or assets has occurred are expected to report their concerns either to their supervisor, any member of management, the General Counsel, the director of the corporate internal audit department, or, if they prefer, to the Chairman of the Audit Committee of the Board of Directors. CTS has a responsibility to properly record, preserve and report financial information in an accurate and timely manner to investors, government agencies, shareholders and others. Federal securities laws require CTS to maintain accurate reasonably detailed records which fairly reflect CTS’ transactions and the acquisition/disposition of assets.  CTS is also required to maintain a system of internal accounting controls. The purpose of this policy is to describe the standards to be maintained in order to meet these obligations. It is the policy of CTS Corporation to follow generally accepted accounting principles and standards, (or equivalent in foreign jurisdictions), as well as all applicable laws, regulations and CTS practices for accounting and financial reporting.  Furthermore, it is CTS’ company policy to maintain complete and accurate records and accounts to accurately reflect all business transactions and the acquisition/disposition of CTS assets.  Additionally, CTS will only release financial information upon proper authorization and then only after due consideration to the interest of CTS as a whole. 

DISCLOSURE OF INFORMATION

CTS is committed to providing accurate information to the public in a timely, orderly and consistent manner.  CTS will comply with applicable laws and regulations regarding the selective disclosure of material, nonpublic corporate information.CTS prohibits the selective disclosure of material, nonpublic corporate information to securities market professionals, investors and potential investors, unless the communication is made:

·         To a person who owes a duty of trust or confidence to the Company

·         To a person who has signed a confidentiality agreement;

·         To a rating agency, for the sole purpose of developing a credit rating that will be publicly available; or

·         In connection with a securities offering that is exempt from Regulation FD requirements.

 Information is “material” if there is a substantial likelihood that a reasonable shareholder would consider it important in making an investment decision.  “Nonpublic” information is any information that has not been disseminated in a manner reasonably designed to make it generally available to investors.