How certification to ISO 37301:2021 helped Midea Group inspire greater trust

How certification to ISO 37301:2021 helped Midea Group inspire greater trust

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ISO 37301:2021 case study - Midea Group
ISO 37301:2021 case study - Midea Group
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Midea Group have become an early adopter of ISO 37301:2021 establishing a positive compliance management culture

Midea Group is a Fortune 500 company, with robust business growth across multiple sectors, including:

  • Smart home
  • Industrial technologies
  • Building technologies
  • Robotics and automation
  • Digital innovation

Midea achieved 343.4 B RMB total revenue in year 2021, ranking 288th in the Fortune Global 500 in 2021. Midea’s vision statement is to bring great innovation to life. It trades with clients in more than 200 countries and has 35 production facilities, 35 R&D centers and international operations across the world. Midea has 400+ million users in more than 200 countries.

Client needs

  • To support business objectives for globalization with strong compliance management
  • To focus on the establishment of a corporate governance structure
  • To achieve value realization through Midea’s three-level compliance management structure, continuously deepening and driving compliance systems, striving to realize systematic monitoring and management in various compliance fields
  • To gradually develop a compliance culture within Midea Group

Client benefits

  • Demonstrated the strong commitment of compliance management to stakeholders, through early adoption of newly issued ISO 37301 standard
  • Established a robust systematic approach to global operations in line with ISO 37301 standard requirements
  • Proven effective establishment of corporate governance in terms of compliance management system
  • Raised staff awareness and knowledge about corporate compliance management and ISO standards

Why certify to an ISO standard?

Certifying to this standard enables Midea to achieve their focus on developing a modern corporate governance structure and aligns with their policy of ‘Go for globalization with international compliance’.

Midea had put its risk and compliance management process in place, however, the organization wished to further improve the process to support its fast-growing global business.

When ISO 37301 (organizational governance compliance management requirement with guidance) was issued in April 2021, Midea found it ‘fit for purpose’ and immediately decided to reshape their existing compliance management system according to ISO 37301’s requirements and guidelines.

After six months of implementation and a trial run, Midea Group successfully passed a rigorous BSI initial audit and was awarded the ISO37301:2021 certification for Compliance Management in January 2022.

The value of certifying to ISO 37301

mark of trust certified iso-37301 logo Implementing the standard enabled Midea to take a systematic approach to enhance its overall compliance management capability. ISO 37301 was found to be a good framework to integrate well with other existing ISO standard based sub-systems such as ISO 27001, ISO27701, and ISO9001.

This shaped the culture for compliance, a principles-based organizational governance with a structured solution enabling Midea to form a positive compliance culture.

Midea’s top management is now fully convinced that scientific compliance management methods and a well-functioning compliance management system are bound to better assist its operations and business development of enterprises.

Being certified inspired trust and confidence with clients, sales agents, suppliers, market supervision, investors, subsidiaries, and employees, through ISO 37301 standard based approach as shared ‘business language’ to facilitate more efficient cooperation.

Proved compliance capability is the core competitiveness of enterprises. The fact that Midea achieved the ISO 37301:2021 compliance management certification first in China is an important recognition of Midea's commitment to robust process in the field of compliance. It is also a great reward to Midea's efforts, particularly in the field of antitrust and data compliance management.

How BSI helped Midea Group

Right after the publication of ISO 37301:2021, BSI developed a training course in Mandarin and introduce this standard first to the Chinese market, through webinars, articles and online training.

BSI also partnered with legal firms, industry associations and colleges to jointly promote the ISO 37301 standard based training and assurance services. This new standard has now been welcomed in China, Korea, and the Middle East.