The ISO27001 standard deals with policies and systems for organizational information security management. It entails the following.

What it is

It is also known as the information security management standard (ISMS). It involves specifications for managing data security for all sectors. The standard is especially crucial for companies in high risk sectors such as banking, insurance, military, data firms etc. The standard does not cover information contained in computers or other electronic sources alone.  It takes into account all sorts of information, whether data written or printed on paper, stored in flash drivers, diskette etc. It also includes information send through mail, shown on films, spoken or send via post office.  The standard is part of the larger group of ISO 27000 family of standards. 
The standard serves a number of functions. The main one is ensuring that all information is shared and stored in a way that protects an organization from information loss. The standard thus involves the following. One, it is about preserving information confidentiality. Secondly, it is about preserving the integrity of information.  Information confidentiality and integrity refers to ensuring appropriate access and guarding accuracy. Finally, the standard also seeks to limit accessibility of information to unauthorized parties. As such, only authorized individuals within an organization can access the information when the need arises. 

Control objectives 

A number of important aspects form up the control objectives of the standard. It includes the security policy, which basically is a raft of measures for safeguarding data security. It also includes asset classification and control, communications and operations management, personnel security and overall organizational security. The standard also deals with access control, system development and management, as well as compliance with industry standards.  The need for information security in the modern business environment cannot be overemphasized.  The risks and threats to company or business information are numerous. The standard ensures businesses are ready and cognizant of evolving information security challenges.