Tuesday, June 2, 2020

The Monthly GRC Summary: GRC Perception and Practice June 2020

 The purpose of the GRC (governance, risk management, and compliance) is to improve business performance through the creation of value to shareholders and other stakeholders.

The important characteristics of digitalization are over-complexity, uncertainty, and ambiguity. Hence, GRC (governance, risk management, and compliance) becomes more critical than ever.

Here's the context; how should GRC programs be approached? Should technology be a driver? Can you achieve any level of GRC without automation? Can you achieve any level of GRC without people? What is the real driver of GRC?

GRC Perception and Practice 


GRC Perceptions and Disciplines Compared to the business world decades ago, today’s organization has become much more dynamic, complex, hyperconnected, and interdependent. The digital environment is constantly changing forcing the business to keep adjusting.

Driving “Time-to-Adoption” GRC Discipline We live in an era of information abundance but insight scarcity, full of uncertainty, velocity, complexity, and ambiguity. The result is the higher risk of conflict and inertia, not something that the organization wants in a dynamic business environment demanding innovation, speed, responsiveness, and flexibility to succeed.

How should GRC Programs be Approached? The purpose of the GRC (governance, risk management, and compliance) is to improve business performance through the creation of value to shareholders and other stakeholders. Nowadays, businesses have to deal with the unprecedented level of uncertainty and change, hence, GRC becomes more critical than ever. Here's the context; how should GRC programs be approached? Should technology be a driver? What’re the most important GRC strategies?

Governance as an Enabling Professional Discipline Corporate Governance as a professional discipline has over recent decades been subject to numerous influences. Most boards of directors accept that a soundly based and structured governance document is one of the most significant disciplines and corporate behavior enablers contributing to a company’s success. Gone are the days when a corporate “Mission Statement “ was viewed as the guiding light in which all corporate wisdom would be asked to worship. Gradually governance as a discipline has been accepted by most professional business practitioners as an enabling vehicle that provides a platform for determining sound corporate behavior and structured decision making.

GRC Methodology vs. Technology Digital technologies bring significant opportunities and risks in today’s businesses. Hence, GRC (governance, risk management, and compliance) plays a more important role in running an effective organization. GRC methodology vs. technology, how to balance them right in improving organizational agility and maturity?

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1 comments:

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