How can SMEs in Taiwan Strengthen Corporate Governance to Achieve Sustainability: The Case of ISO 9001 Implementation
How can SMEs in Taiwan Strengthen Corporate Governance to Achieve Sustainability: The Case of ISO 9001 Implementation
Sustainable Development Goals
Abstract/Objectives
With global instability rising due to war, energy issues, and political struggle, small and medium-sized enterprises (SMEs) in Taiwan are facing serious challenges. SMEs make up more than 98% of all businesses in Taiwan. While they are flexible and can react quickly, they often lack strong systems and have fewer resources to handle risks. As the world pays more attention to long-term sustainability, it has become important for SMEs to build strong corporate governance systems. Good governance can help businesses make better decisions, manage risks, and gain trust from stakeholders—making it a key part of running a sustainable business.
This study looks at one Taiwanese SME (Company C) and uses interviews to explore how adopting the ISO 9001 quality management system affected its corporate governance and long-term growth. The findings show that ISO 9001 helped improve internal processes, control risks, and support steady development. Although the company faced challenges like higher costs and employee resistance during the implementation, strong leadership and teamwork helped improve governance.
This research adds practical knowledge on how SMEs can improve governance for sustainability. It also offers suggestions for the government and businesses—such as increasing awareness of risk management, supporting ISO implementation, and improving policies to help SMEs grow sustainably even with limited resources.
Results/Contributions
Details attached.
Keywords
Taiwan SMEssustainabilitytriple bottom lineESGcorporate governanceinternal controlrisk managementISO 9001