We are living in rapidly changing and challenging times and, more than ever, governing bodies are being called upon to ensure their organizations act with purpose, sustainability and society in mind. Good governance not only builds trust, it improves business performance and contributes to social and environmental integrity. Effective, accountable and inclusive societies and institutions rely on good governance at all levels, from small companies through to multinationals and governments.
Governance is the system by which an organization is directed, controlled and held accountable to achieve its core purpose over the long term. ISO technical committee ISO/TC 309, Governance of organizations, was created to consolidate good practice for effective governance and covers a wide range of aspects, from direction, control and accountability, to compliance, corruption and whistleblowing. Its most prominent standard, ISO 37001 (anti-bribery management systems) helps promote peace, justice and strong institutions by increasing transparency and accountability. Further standards by this committee include ISO 37301, Compliance management systems – Requirements with guidance for use, and ISO 37000, Governance of organizations — Guidance, which encourage good direction and control of organizations of all types and sizes.
Good governance not only fosters an environment of trust, transparency and accountability, it also helps align an organization’s purpose with the interests of society, building strong stakeholder relationships while effectively managing and maintaining its resources. In this way, good governance lays the foundation for the long-term success of organizations and ensures they contribute to the protection and restoration of social, economic and natural environmental systems.
