In the face of “VUCA” reality, it’s important to establish holistic governance practices across disciplines spanning the entire value chain, and establish good principles for improving business management effectiveness.
Holistic GRC plays an important role in running an effective organization with agility, innovativeness, and achieving a high level of organizational maturity.
A holistic GRC improving decision cohesiveness and overall business management maturity: In business reality, various stakeholders in the enterprise are perhaps resistant to their advice given the tension between the best fit, in terms of resource allocation and crusades of action, GRC convergence is an idea whose time may have come to integrate governance, risk management and compliance as an integral approach to improve business decision coherence and problem solving effectiveness. Governance is not simply a technology tool or a set of best practices; but a strong discipline to rationalize risk management and controls with IT, processes, people, giving management the information they need to improve business performance and achieve compliance.
GRC is not about a single role or reporting structure, as there are separate functions/roles. Neither is GRC about lumping them together but allowing different roles to work together in harmony. The GRC can be evaluated not only from the financial perspective but also from innovation, people centricity, and multidimensional value perspectives. The value proposition of holistic GRC with a set of innovative practices should be integrated within and across operations, harness information-based communication cross-boundarily, enforce accountability, prioritization, and optimize resource usage, etc, to improve the success rate of business strategy.
A holistic GRC needs to move more and more to be the hub and harbinger of corporate culture and values: Due to the rapid changing environment, businesses have to overcome unprecedented uncertainty and complexity, effective governance today needs to be people-centric, less process-driven, enhancing cross-functional connection, trust, and communication within the intangible assets of organizations. A holistic GRC specifies the rules and principles for enhancing corporate values, making decisions in corporate affairs, and enforces good policies to encourage desired change, improve transparency of the company.
From an enterprise view that GRC seeks to obtain in goal attainment and value generation and protection. Focus on proactive planning and process optimization for collaboration, accountability, and integration. It’s important to instill GRC philosophy in organizational culture, embed GRC mechanisms in the key business processes, and enforce GRC practices at daily business activities.
To innovate and implement holistic GRC, embed the GRC mechanism in the key business processes to improve business agility: Innovation cannot be separated from a specific business purpose and in a broad context. It’s important to shape a holistic governance prospect because organizations today are more like organic systems that must keep evolving to adapt to the changing environment.
An understanding of the relationship between corporate governance, risk management, controls, and strategies is fundamental to the successful implementation of the proposed GRC approach. To share information and common processes for driving business agility, GRC can be delegated and even automated when possible, but also develop the best and next practices to improve business manageability.
In the face of “VUCA” reality, it’s important to establish holistic governance practices across disciplines spanning the entire value chain, establish good principles for improving business management effectiveness, decision cohesiveness, program portfolio maturity, to optimize business performance through the creation of value to varying stakeholders in a coherent way.
GRC is not about a single role or reporting structure, as there are separate functions/roles. Neither is GRC about lumping them together but allowing different roles to work together in harmony. The GRC can be evaluated not only from the financial perspective but also from innovation, people centricity, and multidimensional value perspectives. The value proposition of holistic GRC with a set of innovative practices should be integrated within and across operations, harness information-based communication cross-boundarily, enforce accountability, prioritization, and optimize resource usage, etc, to improve the success rate of business strategy.
From an enterprise view that GRC seeks to obtain in goal attainment and value generation and protection. Focus on proactive planning and process optimization for collaboration, accountability, and integration. It’s important to instill GRC philosophy in organizational culture, embed GRC mechanisms in the key business processes, and enforce GRC practices at daily business activities.
To innovate and implement holistic GRC, embed the GRC mechanism in the key business processes to improve business agility: Innovation cannot be separated from a specific business purpose and in a broad context. It’s important to shape a holistic governance prospect because organizations today are more like organic systems that must keep evolving to adapt to the changing environment.
An understanding of the relationship between corporate governance, risk management, controls, and strategies is fundamental to the successful implementation of the proposed GRC approach. To share information and common processes for driving business agility, GRC can be delegated and even automated when possible, but also develop the best and next practices to improve business manageability.
In the face of “VUCA” reality, it’s important to establish holistic governance practices across disciplines spanning the entire value chain, establish good principles for improving business management effectiveness, decision cohesiveness, program portfolio maturity, to optimize business performance through the creation of value to varying stakeholders in a coherent way.
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