Management needs to work collaboratively for re-imagining management discipline, reinventing governance models, rejuvenating corporate culture, to build high performance business and climb towards the upper level of business maturity.
Corporate governance isn’t just about putting restrictions on what you can do, it is also about knowing when things are not going to plan so that you can take appropriate actions at the right time. It’s important to clarify philosophy, technology, and methodology of governance, create good performance and enable long-run business growth.
Governance philosophy: Plato used the term governance in a metaphorical sense to lead or rule strategically. Governance philosophy provides ongoing inquiries into the nature of governance based on “the love of wisdom.” Running a high performance organization and advanced modern society means that the guiding philosophy and principles become more crucial to be defined as decision and behavior guidelines to drive change; it is less about restrictive rules or bureaucracy, more about navigation or cohesiveness.
Governance philosophy helps to unify, harmonize, guide; governance and management mutually reinforce each other. It’s important to instill governance philosophy in organizational culture, as extrinsic reflection of culture is your business brand. Great governance philosophy and principles offer a set of rules to develop empirical methods and next governance practices to improve business effectiveness and maturity.
Governance technology: Strong governance can enhance manageability by collaborating their geographically dispersed structures and talents, and practicing cross-functional governance discipline with in-depth knowledge. Governance processes or practices need to be assessed, evaluated, and modified to address the latest technology trend in order to improve governance effectiveness, efficiency and maturity.
A GRC application is to complement what people already do. Any GRC software solution is only a tool to assist in governance automation and enhancement. The old chestnut of "people, process, and technology" addresses GRC disciplines. Business leaders need to decide how to best apply a tool and incorporate the tool into their GRC system. It is also critical to look at culture, staff training, existing processes and technology first, make improvements if necessary, then determine whether new tools would be value-adding for improving governance effectiveness.
Governance practice: The governance is an organizational capability for risk mitigation, risk management, and risk intelligence. There are varying degrees of understanding of the scope of corporate governance, and cross disciplinary governance practices. Good governance practices improve the overall organizational effectiveness and maturity. The flavor of GRC practices depends on the nature of the business and the level of the organizational maturity. A good governance standard with a set of GRC practices helps shape a strong vision and leadership, improve reliable service/solution deliveries, cost optimization, availability of talents, scalability of operations, or culture cohesiveness, etc.
Innovation is the theme of contemporary organization. The area to practice governance might be the conception, development, and deployment of solutions and exploration of business innovation. A robust governance program can be the medium through which innovation is fostered. GRC practices at daily business activities harness communication, coordination, and control. Good governance processes and practices ensure clear and concise information to key decision makers for solving problems cohesively. With strong governance practices, complex problems should be handled and prioritized in such a manner that they're inherent in the way without negatively impacting the working flexibility to deliver cohesive business solutions.
With "VUCA" new normal, in some circumstances, the line between management and governance is blurred, Thus, corporate board and management need to work collaboratively for re-imagining management discipline, reinventing governance model, rejuvenating corporate culture, to build high performance business and climb towards the upper level of business maturity.
Governance philosophy: Plato used the term governance in a metaphorical sense to lead or rule strategically. Governance philosophy provides ongoing inquiries into the nature of governance based on “the love of wisdom.” Running a high performance organization and advanced modern society means that the guiding philosophy and principles become more crucial to be defined as decision and behavior guidelines to drive change; it is less about restrictive rules or bureaucracy, more about navigation or cohesiveness.
Governance philosophy helps to unify, harmonize, guide; governance and management mutually reinforce each other. It’s important to instill governance philosophy in organizational culture, as extrinsic reflection of culture is your business brand. Great governance philosophy and principles offer a set of rules to develop empirical methods and next governance practices to improve business effectiveness and maturity.
Governance technology: Strong governance can enhance manageability by collaborating their geographically dispersed structures and talents, and practicing cross-functional governance discipline with in-depth knowledge. Governance processes or practices need to be assessed, evaluated, and modified to address the latest technology trend in order to improve governance effectiveness, efficiency and maturity.
A GRC application is to complement what people already do. Any GRC software solution is only a tool to assist in governance automation and enhancement. The old chestnut of "people, process, and technology" addresses GRC disciplines. Business leaders need to decide how to best apply a tool and incorporate the tool into their GRC system. It is also critical to look at culture, staff training, existing processes and technology first, make improvements if necessary, then determine whether new tools would be value-adding for improving governance effectiveness.
Innovation is the theme of contemporary organization. The area to practice governance might be the conception, development, and deployment of solutions and exploration of business innovation. A robust governance program can be the medium through which innovation is fostered. GRC practices at daily business activities harness communication, coordination, and control. Good governance processes and practices ensure clear and concise information to key decision makers for solving problems cohesively. With strong governance practices, complex problems should be handled and prioritized in such a manner that they're inherent in the way without negatively impacting the working flexibility to deliver cohesive business solutions.
With "VUCA" new normal, in some circumstances, the line between management and governance is blurred, Thus, corporate board and management need to work collaboratively for re-imagining management discipline, reinventing governance model, rejuvenating corporate culture, to build high performance business and climb towards the upper level of business maturity.
1 comments:
I’ll probably keep it short and sweet and link to this instead if thats cool. Thanks. cafune lux
Post a Comment