The flavor of GRC practices depends on the nature of the business and the level of the organizational maturity.
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? Modern corporate boards play significant roles in guiding businesses in the right direction and achieve expected business results. Here are the multiple perspectives of shaping a strategic boardroom with digital acumen.
GRC Insight
Innergovernanceinsight Governance is like the “steering wheel,” to ensure that the organization follows the business laws & regulation compliance, running in the right direction. It evolves the leadership and organizational structures and processes that ensure the organization sustains and extends the enterprise strategies and objectives.
Insight of Governance Governance is about how well an organization is being run, and if set upright, it should effectively oversee the achievement of the vision, mission, and objectives. Needless to say, effective governance leads to effective management and reaches a high level of organizational maturity.
Insight Upon Governance Governance is to frame business management, it should orchestrate change, do it with trust and flexibility. It’s about how well an organization is being run and if set upright, it should effectively oversee the achievement of the business strategy. How to enforce organizational governance discipline depends on the nature, scale, and complexity of the organization, as well as understanding its risks and conducting. Governance is neither linear nor single dimensional nowadays, it should be understood via multidimensional lens and get enforced holistically.
Insight of IT Governance We live in an era, full of uncertainty, velocity, complexity, and ambiguity. The result is the higher risk of conflicts and inertia. Often a big risk is that the risk management system is detached from the real management of the business. Sound governance is part of eliminating risks and doing the right thing.
Insights of Governance Governance, per se, as a concept goes back 2500 years, deriving from Greek naval terminology, kubernesis or kuberneo, and referred to the act of piloting a ship - both providing direction to accomplish the ship’s purpose and its protection (risk avoidance) in that process. Plato used the term in a metaphorical sense—to lead or rule strategically. Wikipedia is pretty close in saying: … “ governance aim(s) to assure (sometimes on behalf of others) that an organization produces a worthwhile pattern of good results while avoiding an undesirable pattern of bad circumstances. Perhaps the moral and natural purpose of governance consists of assuring, on behalf of those governed, a worthy pattern of good while avoiding an undesirable pattern of bad.”
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The "Digital Boardroom: 100 Q&As" Introduction
The "Digital Boardroom: 100 Q&As" Chapter 1 Introduction: The Digital Board's Composition Inquiries
The "Digital Boardroom: 100 Q&As" Chapter II Introduction: The Digital Board's Digital Inquiries
The "Digital Boardroom: 100 Q&As": Chapter III Introduction: The Digital Board's Strategy Inquiries
The "Digital Boardroom: 100 Q&As" Chapter IV Introduction: The Digital Board's IT Inquiries
The "Digital Boardroom: 100 Q&As" Chapter V Introduction: The Digital Board's Leadership Inquiries
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