ISO 31000:2018 5.4.1: Understanding the organization and its context

Guidance: when designing the framework the organization should study and come to understand its internal and external context. Externally that can include social and cultural, political, legal and regulatory, financial, economic, technological and environmental factors at every level from local to international; the drivers and trends acting on its objectives; the relationships, perceptions, values and expectations of external stakeholders; contractual relationships and commitments; and the complexity of its networks and dependencies. Internally it can include vision, mission and values; governance, the organization's structure, its roles and who is accountable; policies, objectives and strategy; culture; the standards, guidelines and models adopted; capabilities in the form of resources and knowledge, from capital and time to people, intellectual property, processes, systems and technology; data, information systems and flows; relationships with internal stakeholders and their perceptions; contractual commitments; and the interdependencies between all of these.