Process or No Process?

This post I am writing to know my reader's view.

Many a times we hear words like we should follow this ‘Process’ or we should follow ’CMM’ level standard or my company follows ‘ISO’ standard. So is it useful to follow the process or is it good if we work without following any standard or process? 

In my opinion following process is always good because if there is no process, then the organization runs on the minds of some heroes and later if they quit the company then it will lead to big problems. Because if there are no standards or processes followed in a firm then those heroes work the way they want to and they hide the information. They never share the important things with their colleagues so if they leave then others won’t have much knowledge of their own systems. Even if the heroes don't leave the firm, there will be a dependency on them forever.