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TUV Rheinland STAR*
TÜV Rheinland STAR is a service which provides a company evaluation over 9+1 Dimensions, offering such benefits as:
- Supplier Assessment:
Purchasers can evaluate and rate their existing or potential suppliers - Competitive Advantage:
Suppliers can prove their capabilities towards potential buyers - Investment Decisions:
Investors have access to detailed analysis allowing for smart and safe investments - Internal Improvement:
Organizations can internally evaluate their risks - Proof of Societal Commitment:
Organizations can verify their dedication to Corporate Social Responsibility (CSR).
The evaluation is based on 9+1 Dimensions, ranging from quantitative criteria such as financial disclosure, to qualitative criteria such as social responsibility.
TÜV Rheinland STAR is based on the concept of Corporate Social Responsibility and brings a new perspective and solution to the evaluation of corporate performance and sustainability.
Where did the idea originate?
Drawing inspiration from new market requirements resulting from increased globalization and social awareness, TÜV Rheinland STAR is based on our experience and services in combination with international guidelines and standards including:
- The UN Global Compact
- ILO Conventions
- OECD - Guidelines
- Global Reporting Initiative (GRI) - Principles
- SA 8000, IS0 9001 and other management systems
as well as other standards, such as product certification standards. International and national association initiatives such as EICC or JEITA have also been taken into consideration.
How does it work?
The service utilizes an exclusive 9+1 Dimension evaluation scheme in analyzing an organization’s performance, summarizing the results into an overall classification within a 5-star rating system. The resulting rating is posted on our TÜV Rheinland STAR platform which is accessible to the public or limited to registered users only – depending on the decision of the evaluated organization.
The evaluation and rating is based on an onsite visit during which we check and assess the organization first-hand. With the TÜV Rheinland Group being represented in 360 locations in over 60 countries, we are certain to have an office nearby, ensuring a cost-efficient service.
9 Dimensions
The 9 Dimensions are the result of cutting-edge research in CSR, information security and other risk areas. The dimensions are comprised of a total of 50 sub-dimensions, all of which are rated separately. Each dimension contains between 3 and 11 sub-dimensions and follows our basic concept of assessing systematic aspects in combination with performance and transparency.
The 9 Dimensions are:
- Corporate Governance
- Social Responsibility
- Occupational Health and Safety
- Quality
- Environment
- Information Security
- Financial Disclosure
- Brand/Innovation
- Fair Trade & Competition
10th Dimension
The 10th Dimension is an optional element and can be customized to assist organizations to manage their supply chain. This allows purchasers to integrate additional evaluation criteria that are not covered within the 9 Dimensions.
Prioritize the 9 Dimensions according to the needs of suppliers
The 9 Dimensions cover a broad range of critical aspects regarding company performance. Some organizations may want to focus on particular areas for which they would prefer to achieve four or even five stars in order to gain a competitive advantage. Of course, in order to avoid risks, a minimum value should be attained in every dimension. Only the best-in-class companies that are the market leaders of their industry will demonstrate their excellence by five stars in all 9 Dimensions.
Prioritize the 9 Dimensions according to the needs of purchasers/investors
Depending on their specific needs, purchasers and investors can undertake analysis and determine which company best fulfills their specifications. The evaluation system ensures that areas of risk are easily identified. For some dimensions, three stars – signifying a stable, systematic business approach – may be enough to meet their requirements; in other dimensions their expectations could be higher. Every purchaser and investor can tailor their individual requirements from the 9+1 Dimensions.
For further information, please visit our TÜV Rheinland STAR homepage www.tuv-star.com
