Friday, September 9, 2022

Initiateguidance

10:45 PM Pearl Zhu No comments

The flavor of GRC practices depends on the nature of the business and the level of the organizational maturity.

Due to the “VUCA” characteristics -Complexity, Uncertainty, Ambiguity, and Velocity of the Digital Era, the directorship in any organization must have the agility to adapt to changes and build abilities to advise, inspire and motivate a group of people toward accomplishing shared visions and goals.

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.

Guidance

Initiateguidance We are in the age with the mixing of old and new, physical interaction and virtual collaboration; abundance of information and scarcity of insight; the birth of new technologies and legacy infrastructure, etc. It’s always important to break down silos or outdated concepts, set clearly defined guidance to shape fitting mindsets, desired behaviors, for making continuous improvement, encouraging innovation, leading business transformation, reinventing knowledge and creative economy.

Initiateguidance&governance The fast-paced changes and overwhelming growth of information bring both significant opportunities for business growth and unprecedented risks businesses have to deal with. Organizations today are not mechanical systems that keep spinning in a static business environment, often go nowhere.

Initiateleadershipguidance The multidimensional digital effects provide impressive advantages in terms of the business speed, the abundance of information, and the quality of the workforce. If running the business in a transactional mode only can cause digital ineffectiveness in the long run. Today’s business leaders must be forethoughtful to read business sentiment with clarity, set guidance to drive changes, catalyze innovation, and solve problems effectively.

Ittuidance Principles are statements of values. Things that define why one makes a decision one way or another. These core decision values guide the behavior of individuals within an organization. Thus, guiding principles need to be defined as core decision values, "why we make decisions the way we do."

Initiateguideinchange Credo is a Latin word that means "a set of fundamental beliefs or a guiding principle." For a company, a credo is a set of well-defined principles based on its management philosophy. Principles are general rules and guidelines, intended to be enduring and seldom amended. Philosophy is the history of ideas and an ongoing inquiry into the nature of things based on abstract reasoning rather than empirical method. Digital means flow; digital organizations have to adapt to the continuous changes and business dynamic to get digital ready. The challenge is to prioritize what you know about and keep an eye open for signs of things you don't know about. Therefore, it is important to develop your own company tailored credos to inspire change mentality, motivate positive attitude and good behaviors, and to generate winning concepts for digital transformation on a consistent basis.