Social Responsibility – A Good Business Practice

Oct 02, 2016 News

Organisations around the world, and their stakeholders, are becoming increasingly aware of the need for and benefits of socially responsible behaviour. The objective of social responsibility is to contribute to sustainable development and it is usually seen as a tradeoff between economic development, in the material sense, and the welfare of the society and environment.
Social responsibility, also referred to as Corporate Social Responsibility (CSR), is the operating of a business in a manner that accounts for the social and environmental impact created by the business. It means a commitment to developing policies that integrate responsible practices into daily business operations, and to reporting on progress made toward implementing these practices.
The ISO 26000 Standard provides guidance to both businesses and public sector organisations on social responsibility. It integrates worldwide knowledge on social responsibility – what it means, what issues an organisation needs to address in order to operate in a socially responsible manner, and what is best practice for implementation.
This international standard is intended for use by organisations of all types, in both public and private sectors, in developed and developing countries, as well as in economies in transition and is a powerful tool to assist organisations to move from good intentions to good actions.
Being socially responsible is quickly becoming a critical part of measuring the overall performance of organisations and their ability to continue operating effectively. This is, in part, a reflection of the growing recognition of the need to ensure healthy ecosystems, social equity and good organisational governance.
There are many benefits that can be realised when business organisations implement the ISO 26000 standard. The perception and reality of the performance of socially responsible organisations can influence, among other things their competitive advantage, reputation, ability to attract and retain workers or members, customers, clients or users and the maintenance of employees’ morale, commitment and productivity.
In addition, being socially responsible provides a favourable view for investors, owners, donors, sponsors and the financial community and enhances the relationship of conforming businesses with the government, the media, suppliers, peers, customers and the communities in which they operate.
The Guyana National Bureau of Standards encourages businesses to consider the benefits of becoming socially responsible. The ISO 26000 standard, which is available at the GNBS, provides a clear guidance for any entity desirous of practicing socially responsible behaviour.

For further information, please contact the GNBS on telephone numbers: 219-0065, 219-0066 or visit the GNBS website: www.gnbsgy.org or facebook.com/gnbsgy

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