Often, organizational values are “caught” by, not “taught” to, the rank and file. On the other hand, checks and balances like internal controls and compliance functions provide the handlebars that steer people and organizations toward greater transparency and accountability. Another fundamental CG element is risk consciousness.
Currently, Tel Aviv has evolved into one of the world’s leading hubs for technology and innovation and is a prime destination for entrepreneurs, investors, international R&D facilities and innovation centres. Between 1995 and 2004, Israel increased its spending on R&D, calculated as a percentage of GDP, from 2.7% to 4.6%, a rate higher than any other OECD country.