INTERNATIONAL CORPORATE SOCIAL RESPONSIBILITY STANDARDS - ISO 26000:

Abstract

The paper investigates how corporate and other stakeholders benefit from the guidance of an International Corporate Social Responsibility Standard-ISO 26000. A common understanding of Social Responsibility will not only bring business profits and prosperity but also sustain growth and development. Examples have been cited from the case study of Suvera achieving a 95% reduction in waste, leading to a sharp reduction in costs, and the new by-products resulted in additional sales by working with the NGO. The idea of an internationally agreed standard for CSR and importance of it have been highlighted. The launching of ISO 26000 guidance standards on social responsibility provides guidance and contributed better results in every sphere. The willingness of an organization to incorporate social and environmental considerations in its decision making and be accountable for the impacts of its decisions and activities on society and the environment has become one of the characteristics of social responsibility. ISO 26000 thus is a voluntary guidance standard that is not to be use for certification, unlike ISO 9001:2008 (quality management) and ISO 14001:2004 (environmental management) which can be use for certification. As companies and organizations proposes their own guidelines to achieve their objectives or goals, it has affected to some extent some stakeholders, on the other hand, the effective and efficient use of an International CSR standard voluntary guidelines would yield a better living for all-sustainably.