GOVERNANCE OF ORGANIZATION ISO 37000 :2021

Governance of organizations Guidance provides organizations and their governing bodies the tools they need to govern well, enabling them to perform effectively while behaving ethically and responsibly.
Purpose and sustainability are now at the heart of governance, as governing bodies of all types of organizations are being called on, more than ever, to ensure that their organizations act with purpose, sustainability and society in mind in a rapidly changing world and challenging times. Good governance not only builds trust, it improves business performance and contributes to social and environmental integrity.

The program provides principles and key aspects of practices to guide governing bodies and governing groups on how to meet their responsibilities.
At the heart of all organizations is purpose, i.e. a meaningful reason to exist. Values inform both the purpose and the way the purpose is achieved. ISO 37000 sets out guidance to help governing bodies clarify the purpose and values, ensure that strategy is aligned with this intent and ensure value is generated for all relevant stakeholders to strategically achieve purpose in line with the values.
The program outlines how this requires a carefully considered approach to stakeholder engagement, and a systemic, long-term and proactive view of appropriate risk so that the organization remains viable over time.
ISO 37000 also reinforces the critical need for effective oversight, in particular through a clear- cut internal control system and reliable assurance processes.
Accountability at all levels is another principle at the heart of good governance: neither the members of the governing body nor those to whom power has been delegated stand above the law.
The governing body is ultimately accountable for the actions and omissions of the organization, hence governing bodies need to ensure they define roles and responsibilities and have a well- functioning reporting and accountability system in place.

ISO 37000 further stresses that leaders set the tone for an ethical organizational culture, need to ensure the strategic and responsible use of data and to ensure that decisions are transparent and aligned with broader societal expectations.