In the simplest terms, governance is who you are and how you do things. It's about enforcing decision effectiveness, and getting the people, culture, accountability, and performance right.
In practice, how to enforce the organizational governance discipline depends on the nature, scale, and complexity of the organization. How to recognize people who can develop value, set the right rules, and cultivate the culture of high performance, to lift their organization up to the next level of organizational maturity?
Governance as a communication bridge: Governance is the structure and processes of authority, responsibility, and accountability in a business or organization. Take a consideration of your current governance maturity: where you are today and how far/fast you might change, coupled with a good definition of roles/responsibilities wrapped around governance processes. Corporate governance discipline can fulfill its purpose as a high-level corporate enabler by providing a structured communication bridge between shareholders and top business leaders such as corporate directors.
It’s the ability of corporate boards to oversee and advise management so as to ensure the best fit between short term shareholders profitability and long-term business sustainability (stakeholders: employees, government, society.) Also, GRC is best managed when shared and distributed between the appropriate owners of the processes, programs, vendors, audits, and tasks, to enforce accountability and improve business performance in a structural way.
Governance as a discipline becomes more effective and focuses on its prime purpose if it addresses important emerging issues strategically: Corporate governance is where resources are allocated to turn the strategy into a reality. It could be part of strategic planning because if it isn't, strategic planning becomes a synonym for wishful thinking. It needs to address emerging issues, and keep steering the organization in the right direction. Governance practitioners ponder: To what extent and how does the corporate planning align corporate priorities, sector business plans, and resource allocations? How does the organization ensure policy coherence across the portfolio?
Governance has a broader discipline than auditing, legal & compliance. Governance = Accountability for decisions and assignment of authority to the appropriate managers across the organizational hierarchy. Governance is the process to manage business processes. From there, it should include the delegation and assignment of responsibilities for carrying out the successful execution of assignments. It enables changes and improves organizational agility and performance.
Governance enforces risk management effectiveness via setting good policies and optimizing business processes: An objective risk management assessment and review help to clarify: What are the risk management blind spots? Is it because the risk management program is immature and shortsighted? Corporate governance needs to have direct links to risk management discipline and its processes, provide monitoring, measuring, and enforcement mechanisms to corporate risk management.
In order to improve business agility and people-centricity, governance and risk management should be handled and prioritized in such a manner that they're inherent in the way without negatively impacting the working flexibility to figure out business solutions with consistency. If you're serious about a risk-driven implementation approach for the chosen enterprise-class GRC solution, then you'll need to deal with, first and foremost, the human element. You cannot have effective GRC without them.
Enterprise becomes more complex than ever, uncertainties and complexity are a common occurrence in any walk of our progress. There are a multitude of distinctions between corporate governance responsibilities and management responsibilities. In the simplest terms, governance is who you are and how you do things. It's about enforcing decision effectiveness, and getting the people, culture, accountability, and performance right.
Governance as a communication bridge: Governance is the structure and processes of authority, responsibility, and accountability in a business or organization. Take a consideration of your current governance maturity: where you are today and how far/fast you might change, coupled with a good definition of roles/responsibilities wrapped around governance processes. Corporate governance discipline can fulfill its purpose as a high-level corporate enabler by providing a structured communication bridge between shareholders and top business leaders such as corporate directors.
It’s the ability of corporate boards to oversee and advise management so as to ensure the best fit between short term shareholders profitability and long-term business sustainability (stakeholders: employees, government, society.) Also, GRC is best managed when shared and distributed between the appropriate owners of the processes, programs, vendors, audits, and tasks, to enforce accountability and improve business performance in a structural way.
Governance as a discipline becomes more effective and focuses on its prime purpose if it addresses important emerging issues strategically: Corporate governance is where resources are allocated to turn the strategy into a reality. It could be part of strategic planning because if it isn't, strategic planning becomes a synonym for wishful thinking. It needs to address emerging issues, and keep steering the organization in the right direction. Governance practitioners ponder: To what extent and how does the corporate planning align corporate priorities, sector business plans, and resource allocations? How does the organization ensure policy coherence across the portfolio?
Governance enforces risk management effectiveness via setting good policies and optimizing business processes: An objective risk management assessment and review help to clarify: What are the risk management blind spots? Is it because the risk management program is immature and shortsighted? Corporate governance needs to have direct links to risk management discipline and its processes, provide monitoring, measuring, and enforcement mechanisms to corporate risk management.
In order to improve business agility and people-centricity, governance and risk management should be handled and prioritized in such a manner that they're inherent in the way without negatively impacting the working flexibility to figure out business solutions with consistency. If you're serious about a risk-driven implementation approach for the chosen enterprise-class GRC solution, then you'll need to deal with, first and foremost, the human element. You cannot have effective GRC without them.
Enterprise becomes more complex than ever, uncertainties and complexity are a common occurrence in any walk of our progress. There are a multitude of distinctions between corporate governance responsibilities and management responsibilities. In the simplest terms, governance is who you are and how you do things. It's about enforcing decision effectiveness, and getting the people, culture, accountability, and performance right.
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