Standards of socially responsible management – Impact on sustainable development of the organization, the social and natural environment

Abstract

The purpose of this paper is to outline the results of a study on the importance of the introduction/implementation of standards of socially responsible management and their impact on the business performance of organizations as well as to confirm the correlations with the sustainable development of the broader social and natural environment. The research included a population of medium-sized and large organizations (over 50 employees) in the fields of marketing services in the Republic of Slovenia. Research results confirmed a direct link of understanding the management standards in organizations with a larger number of employees and the achieved higher income from operations. Research participants are familiar with the requirements of the Quality Management System Standard ISO 9001 and the Environmental Management System Standard ISO 14001, which is particularly significant for older business executives with many years of work experience in the company they run. The hypothesis that the implementation of the principles of social responsibility has a positive impact on sustainable development and the financial indicators of the organization – higher profits, business growth, productivity and cost-effectiveness in operations – has been confirmed.

Keywords

• social responsibility
• business success
• management standards