Monday, May 29, 2023

InnovateGRC

12:15 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, RI (risk intelligence) 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.

Innovate GRC

Innovategrc There’s a correlation between corporate governance and business performance, and there's a clear connection between bad governance and poor performance. Governance is about guiding and regulating corporate activities to serve the fundamental purpose of the organization. Without effective GRC discipline, the business will face significant risks for surviving, The best practice of governance takes a people-centric, value-creation approach.

Innovaterisk Organizations across industries are faced with the “VUCA” reality, there is a myriad of information, conflicting, disrupting, uncertainties, inherent variability, and the unknown interdependencies among sources of risks. Risk Management becomes one of the strongest pillars of business beyond people, process, and technology.

Innovategovernance Business ecosystem is complex, nonlinear, uncertain, interrelated, and hyper-connected, full of opportunities and risks. Governance should be understood via multidimensional lenses such as value, innovation, people-centricity, and needs to be enforced holistically. When governance is done properly, it is actually a great tool to harness change, facilitate innovation.

InnovateGRC Global societies become more hyper-connected and interdependent. Creating the paradigm change means how to shift from taking a polarized viewpoint to making interdisciplinary discernment; from the classic command and control management approach to coaching and personalization.

Innovategrc Enterprise becomes more complex than ever, uncertainties and complexities are a common occurrence in any walk of human progress. GRC are a set of complex processes that, if well executed at the different levels of organizational hierarchy, will lead to decision coherence and business effectiveness. The GRC program is a journey, and it’s good to start at the top with risk awareness, appetite, attitude, oversight, etc, to improve business management maturity