A newly published standard, ISO 9004 : 2018, claims exactly that, by divulging the secrets and strategies used by some of the most successful businesses today.
As documented by Clare Aden at ISO.org, “By 2027, according to the 2018 Corporate Longevity Forecast, the average company on the Standard & Poor’s 500 Index (S&P 500) – an index of 505 stocks issued by 500 large companies with market capitalisations of at least USD 6.1 billion – will last just 12 years”.
Many factors have been attributed to the expected failure of these organisations, such as new technologies, economic changes, increased competition and failure to identify and prepare for change.
Drawing on the strategies, best-practice and experience of some of the most successful businesses known today, the new ISO 9004 Standard is said to provide guidance on how an organisation will identify and plan for future change, as well as how they will achieve a higher level of performance along the way.
While ISO 9001:2015 has been designed to provide customers and stakeholders with greater confidence in an organisation’s products and services, ISO 9004:2018 focuses on providing confidence in their overall ability to achieve sustained success.
It is believed that, through this new standard, organisations of any size and within any industry will move to the next level above just ISO 9001. This means addressing topics such as that deployment of strategy, policy and objectives within the broader context of the organisation’s vision, mission, values and culture.
However, industry demand for organisations to obtain certification to the new ISO 9004 Standard remains low and therefore, ISO 9001 maintains its position as the most popular ISO Certification for an organisation to obtain today.
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