Strong GRC discipline is about enforcing decision effectiveness, getting the people, culture, accountability, and performance right.
The flavor of GRC practices depends on the nature of the business and the level of the organizational maturity. Good governance is less about structures and rules than being focused, effective and accountable. The key dimensions of corporate GRC are accountability, strategy oversight, policy-enforcement, risk intelligence, compliance enhancement, and performance monitoring
Business initiatives are overseen by a GRC group: It's important that the business initiative has senior sponsor support and strong governance discipline, focusing on what the organization needs to look like alongside the impetus and sense of urgency, toward the destination at the right speed. Otherwise, the initiative will go to the bottom of the pile.
Business initiative management is crucial to build business capabilities, improve risk intelligence, and avoid pitfalls for leading long term business success. To improve the success rate of business initiatives, portfolio management as a strong governance discipline ensures the effectiveness of project implementation and benefits get realized, they need to work hand-in-hand in business governance efforts.
Business-architecture can be used in governance efforts that help management gain an in-depth understanding of their risks and conducts: Governance as components of the business architecture, includes business rules, legal requirements, operational requirements rules, financial compliance to enhance management disciplines. An enterprise architecture review board, has oversight for all enterprise architecture-related programs portfolio.
There are varying governance activities such as delegation of authority, auditing, or strategy monitoring, etc. Enterprise architecture as a governance enabler can be used to raise visibility and awareness for many business issues that are captured at the different levels of the organization in order to improve business agility and resilience.
Governance and compliance: “Do you see corporate governance as a compliance matter?" The question itself reflects the need for a paradigm shift." Compliance is part of governance, in fact, depending on the industry and company situation, a well-governed organization practices proactive governance disciplines, from taking compliant activities to being compliant for increasing organizational effectiveness.
Being proactive means keeping abreast of standards and auditing to all regulations that may affect the company. It is a continuous process that keeps you current and diminishes the outcomes of not being compliant. So you are able to focus on improving the top line of the business growth and prosperity.
Strong governance discipline is about enforcing decision effectiveness, getting the people, culture, accountability, and performance right. It requires constant attention and needs to make appropriate adjustments. Otherwise, it will stagnate and lose its ability. Highly-effective governance practitioners play a significant role in setting the common worldwide principles to enhance a diversifying ideas-clarifying concepts -unifying beliefs cycle of world class insight, lifting their organizations up to the next level of business growth and balance cycle.
0 comments:
Post a Comment