Corporate Social Responsibility and Financial Performance in Spanish listed companies. Research paper on corporate social responsibility pdf important contribution is the use of a social behavioral index formed by four components: Global Reporting Initiative participation, Dow Jones Sustainability Index firm inclusion, Good Corporate Governance Recommendations compliance, and Global Compact signee. The conclusions drawn from the empirical study performed on the companies registered on the Madrid Stock Exchange demonstrate positive relationships in both directions, namely that the social is profitable and that the profitable is social, thereby originating a positive feedback virtuous circle.
As a consequence, this paper encourages all board members to seriously weigh investing financial resources in developing policies that boost the levels of social behavior components in order to contribute globally to the improvement of society. Published by Elsevier Espana, S. It was released on 1 November 2010. TMBG Technical Management Board – groups.
ISO 26000 was published for the first time in November 2010. Guidance on integrating social responsibility throughout an organization. ISO 26000 offers guidance on socially responsible behavior and possible actions. There are three ways it is different from the more widespread standards designed for companies to use to meet particular requirements for activities such as manufacturing, managing, accounting and reporting.
ISO 26000 is a voluntary guidance standard- that is, it does not contain requirements such as those used when a standard is offered for “certification”. There is a certain learning curve associated with using ISO 26000, because there is no specific external reward – certification – explicitly tied to ISO 26000. ISO recommends that users say, for example, that they have “used ISO 26000 as a guide to integrate social responsibility into our values and practices. ISO 26000 is designed for use by all organizations, not only businesses and corporations. So far, many of the earliest users of ISO 26000 have been multi-national corporations, especially those based in Europe, and East Asia, particularly Japan. ISO 26000 was developed through a multi-stakeholder process, meeting in eight Working Group Plenary Sessions between 2005 and 2010, with additional committee meetings and consultations on e-mail throughout the five-year process. Leadership of various task groups and committees was “twinned” between “developing” and “developed” countries, to ensure viewpoints from different economic and cultural contexts.
The goal was to make ISO 26000 accessible and usable by all organizations, in different countries, precisely because it reflects the goals and concerns of each and all of the stakeholder groups in its final compromise form. Many of the 84 pages of the standard are devoted to definitions, examples, and suggestions on how to identify and communicate with stakeholders, and how to identify and address specific issues in each Core Subject area. ISO 26000 is available for sale by National Standards Bodies in many countries. Prices are set by the different National Standards Bodies, and vary widely.
ISO 26000 is available in many national and international languages, including Arabic, Bulgarian, Czech, Dutch, English, Farsi, Finnish, French, German, Indonesian, Italian, Japanese, Kazakh, Korean, Mongolian, Montenegrin, Norwegian, Polish, Portuguese, Romanian, Russian, Serbian, Slovak, Spanish, Swedish, Thai, Vietnamese. ISO 26000 is copyrighted by ISO. There is a growing number of user guides, many of which are significantly less expensive than the standard itself. Quality and applicability of these guides will vary widely. An assessment tool has been worked out e. This International Standard is not a management system standard.
It is not intended or appropriate for certification purposes or regulatory or contractual use. Any offer to certify, or claims to be certified, to ISO 26000 would be a misrepresentation of the intent and purpose and a misuse of this International Standard. As this International Standard does not contain requirements, any such certification would not be a demonstration of conformity with this International Standard. This statement includes that ISO 26000 cannot be used as basis for audits, conformity tests and certificates, or for any other kind of compliance statements. It can however be used as a statement of intention by the CEO and this is seen as its main value.
The practical value of ISO 26000 has been debated. It might be limited if it merely provided a common understanding of social responsibility instead of also facilitating management routines and practices leading to social responsibility. Despite the non-certifiability, some scholars see distinct elements of a management system standard also in ISO 26000. Against this background, the potential benefits of the new standard, the managerial relevance, and specific limitations of ISO 26000 are currently being discussed. There is also a concern that ISO 26000 is just one among “too many” social impact reporting standards available to corporations. As a guidance document the ISO 26000 is an offer, voluntary in use, and encourages organizations to discuss their social responsibility issues and possible actions with relevant stakeholders.
As service providers, certification bodies do not belong to an organization’s stakeholders. ISO 26000 encourages its users to report to their stakeholders, and get feedback, on actions taken to improve their social responsibility. It is this identification of “stakeholders” that makes the ISO 26000 an important step forward in solving the dilemma presented by corporations still in pursuit of single bottom line accountability, moving the discussion beyond Triple Bottom Line Accountability. It is also an important step in the development of business-led social responsibility initiatives which evidence suggests is much more effective than government-regulated social responsibly policies.