Initiativesofgovernance

 It is critical in adopting an interdisciplinary approach to optimize decision-making, improve problem-solving competency, and harness governance effectiveness.

We can't and won't be able to predict or manage every turn or twist of the business. It’s about setting up governance initiatives in an organization for identifying common risks which various stakeholders have to deal with in the organization. 

It’s important to provide invaluable views, rules, methods, and address the different aspects of governance. Governance is neither linear nor single dimensional nowadays, and it should be assessed in an enterprise more holistically.

 

Governance should effectively oversee the achievement of the business vision, mission, and objectives: Effective leaders build governance standards and a set of policies and GRC practices, help to guide the organization in the right directions. Often risks and opportunities co-exist. Corporate governance discipline can fulfill its purpose as a high-level business enabler by improving dynamic strategic planning, providing a structured communication bridge between varying shareholders. It can assure the corporation’s operation under the correct directions and behaviors correctly.

GRC practices at daily business activities harness communication, develop a high performance culture with the very characteristics such as strong vision and accountability. When governance is seen as a constraint only, it perhaps stifles transformative changes. With a strong governance approach, risk should be seen in a much brighter light as it creates many opportunities for organizations to grow and mature.

Governance specifies the decision coherence and accountability framework to encourage
desirable behavior: Governance is about how you make the right decisions and do things in the right way. A diverse, high-performing team is capable of providing global insights for decision-making effectiveness, and ensures clear and concise information to key decision-makers. Set strong GRC disciplines to help executives and management perform a risk analysis and improve decision effectiveness.

If effective agile governance with optimal decision-making mechanisms is put in place, they would be capable of doing agile decision-making, to set the right dose of risk appetite, improve risk intelligence, and ensure decisions occur as fast as they possibly can, to improve decision coherence across the organizational hierarchy.

Governance principle - Simplicity is the key, work to make complicated matters “less complicated," to enforce agility, but not stifle innovation: When people use the word "simplicity," they are really talking about a kind of transparency or clarity. That is exactly the governance discipline should focus on, to clarify business purpose, vision, goals, and keep business processes transparent. For example, strong governance enhances the clarity of intent, what business problem is a project funded to solve? What is the purpose of a component? How are responsibilities allocated to various hierarchical "layers" or management/engineer disciplines of the organization? Etc.

Governance is important but should be handled in such a manner that they're inherent in the way without negatively impacting the working flexibility. With simplicity as a governance principle, removing complexity (assumptions & dependencies) more clearly reveals the intentions of business and its very purpose. For all important business initiatives, clarify the comprehensiveness from every aspect, simplicity is one of the key plates to balance in addition to cost, risk, and quality.

We can't and won't be able to predict or manage every turn or twist of the business, every business is different with its own set of issues, problems, and concerns; it is critical in adopting an interdisciplinary approach to optimize decision-making, improve problem-solving competency, and harness governance effectiveness.

Posted in: GRC