Impact of ISO Regulations on Stakeholders | Report

Added on - Feb 2020

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Impact of ISO Regulations onStakeholders
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Impact of ISO regulations on stakeholders (future investors, local stakeholders andgovernment).................................................................................................................................1Analyzing how ISO 14001 and AA1000 regulations protect stakeholders.................................1Examples of this in the Kingdom of Saudi Arabia where this reporting occurs.........................2CONCLUSION................................................................................................................................2REFERENCES................................................................................................................................4
INTRODUCTIONIn the present scenario, it has become important for the firms to follow ISO regulationsfor their long term survival as they provide technological, economic and societal benefits. In thepresent report, there will be discussion on the impact of ISO regulations on stakeholders and wayin which ISO 14001 and AA1000 regulations protect the stakeholders. Along with that, exampleof this in the Kingdom of Saudi Arabia will also be explained.Impact of ISO regulations on stakeholders (future investors, local stakeholders and government)In every organization, ISO regulations put a huge impact on its stakeholders. Asemployees are one of the major stakeholders of a business, these regulations play a significantrole in keeping ensuring health and safety. Today, many CEO’s are aware about the ISO qualitystandard and its impact. Thus, they conduct their business with following all these standards sothat occupational health and safety management systems can be handled.Along with that, society is also a very important stakeholder of businesses which ishighly impacted by the ISO regulations. It can be understood like when products and services aremanufactures with International Standards, people become ensured about the quality, reliabilityand safety of products that ultimately leads to their satisfaction (Markiewicz, 2015). Forexample, ISO’s standards on road safety, toy safety and secure medical packaging.In addition to this, ISO regulations serve as the vital resource for government which isalso a firm’s very important stakeholder. These standards develop the public policy throughexpert opinions. Government takes the advantage of integrating ISO standards into nationalregulation. Also, it helps the national bodies to ensure that the requirements for import andexport are the same for the entire world.Apart from that, investors are also one of the major stakeholders that get highly impactedwith the use of ISO regulations by organizations. If corporate uses international standards,investors feel it safe to invest in the shares of these firms as it ensures that company will survivein the long run with high goodwill (Epstein & Buhovac, 2014). Thus, investors become ready toinvest their money in future on the shares of corporations that use ISO regulations.Analyzing how ISO 14001 and AA1000 regulations protect stakeholdersThere are many organizations that are using ISO 14001 environmental managementsystem (EMS) for the purpose of keeping environment safe by making effective environmental1
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