Saturday, January 14, 2023

Initiativesofgrc

9:28 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.

Initiatives of GRC

Initiativesofgovernance The digital environment is constantly changing, forcing the business to keep adjusting accordingly. In fact, today’s organization has become much more dynamic, informative, hyperconnected, and interdependent. Governance is the structure and process of authority, responsibility, and accountability in an organization to enforce business management.

Initiativesofgovernance Running a business is complex, governance as an interdependent discipline of management helps to steer business in the right direction. Governance is the structure and process of authority, responsibility, and accountability in an organization.

Initiativesofgovernance 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.

Initiativesofgovernance Business governance is a collective mindset; and can be used to raise visibility and awareness for what happens at the different levels of the organization.

Initiativeof Governance Governance is like the steering wheel to ensure the organizational vehicle runs in the right direction. Governance today as a discipline is a living breathing entity which continually requires stroking and attention in the digital era. The governance concern is that businesses will lose sight of their prime purpose. If a strategy is not moving forward as desired, perhaps it’s because that governance fails to function smoothly.