Impact of ISO Regulations on Stakeholders Assignment

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Added on 2019-12-28

Impact of ISO Regulations on Stakeholders Assignment

Added on 2019-12-28

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Impact of ISORegulations on

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Way in which ISO standards impact the future investors, local stakeholders and government. .1Protecting stakeholders through ISO 14001 and AA1000 regulations........................................2Example of international standards in the Kingdom of Saudi Arabia.........................................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4

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INTRODUCTIONIn the present report, the impact of ISO regulation on stakeholders of firms will behighlighted along with the way in which these stakeholders can be protected through using ISO14001 and AA1000 regulations. Also, example of international standards in the Kingdom ofSaudi Arabia will be studied in the report. Way in which ISO standards impact the future investors, local stakeholders and governmentStakeholders get highly impacted by ISO regulations as it assists them in keeping theirhealth and safety. Presently, there are many CEO’s who are implementing ISO standards in theirfirms so as to deal with the occupational health and safety management systems. Society is one of the most important stakeholders of organization that get influenced byISO standards. It is because; running business with following the international standards makethe society ensure about quality, reliability and safety of a product which ultimately increases thegoodwill of firms through enhancement in their satisfaction level (Sustainability Excellence,2014). For example: ISO standards on medical packaging and toy safety. Government is also the major stakeholder which gets highly affected by ISO regulationsas according to these international standards, public policies are developed by taking the help ofexpert opinions. Integrating ISO standards in the national regulations plays a significant role forthe government as through this, it enjoys the advantage of free import and export among nations.For investors, ISO regulations prove to be helpful in making decision that whether toinvest in a firm or not as the firms that are following the international standards are safe andsecure to invest (Vágási and Ransburg, 2014). Thus, investors invest their huge amount ofmoney on only the shares of those firms that are running business with fulfilling the ISOstandards.1

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