An old thread, but I thought I would add a comment or two. When a company goes belly up, or even undergoes some kind of reorganization or merger, it is often the case that some of the knowledge that existed within the company is simply lost and will therefore never see the light of day. I have seen this happen, both from the inside and from the outside of companies. It is even true that knowledge and/or documentation can sometimes get lost within a company, even in the absence of reorganizations.
Another thing that can happen if a company's processes are not well controlled is that process drift can occur. This can happen when a process is documented by the engineers but the production people make unauthorized changes. Modern management methods can minimize this, but it is a constant danger.
ISO certification can help minimize these problems, at least in theory. There is a saying in some companies that are attempting to become ISO certified: "Say what you do, and do what you say, and prove it." The idea behind ISO certification is that tight control will lead to improved quality and efficiency. That's the theoretical benefit, and there is likely some truth to it. However, as far as I am aware (and at one time I tried to find out) there have been few if any studies that demonstrate that the theoretical benefits of ISO are born out in actual practice. If anyone has ever gone through the process of ISO certification, it can vary from being merely uncomfortable to being a living nightmare.