Without effective governance discipline, businesses will face significant risk for surviving, and opportunities which it creates cannot be properly transferred into multidimensional business value.
Corporate governance controlling and enforcement takes a new meaning such as agility, intelligence, and innovation in the dynamic digital era. In fact, governance is essentially for solving complex business problems and weaving the foresight to run a smart business.
Information governance: Information nowadays is one of the most crucial business assets besides people. Information-savvy governance is about prediction and prevention via circulating information within the ecosystem seamlessly. Information governance is more often a structure for what you are going to do, who is going to do it, how it is going to be done, and how it is going to be repeated, and make sure you have architectures, standards, stewardship, compliance and all important things covered.
It’s important to improve information reliability, authentication, reusability, consistency and security. The proper information governance is not a one time exercise but a constant review. Successful companies with great information governance have set up governance committees that include representatives from various parts of the business and agree on how the information will look, be deployed to create value, deploy and open new information from the dynamic business environment continuously.
Process governance: Corporate governance is about guiding and regulating collective organizational decisions and behaviors to achieve strategic goals and serve the fundamental purpose for which the organization was created in the first place. A business process is "smart" when it accommodates controlled excursions away from what would otherwise be a rigid sequence of steps. Process intelligence can also mean process governance –the process to manage processes, such as risk control, compliance, monitoring etc. It fits the growth perspective of the organization and leads to a new way of doing business.
There are different types of process governance initiatives that are likely to be aligned with process improvement and change, such as process governance for improving efficiency and standardization; governance for leading customer focus; or process governance for harnessing innovation. It’s important to standardize processes, optimize costs; improve operational effectiveness, manage risk, and make sure that enough resources are available to make continuous deliveries. Process governance allows the advantages of standardization, decrease in duplication of effort, and decreased risk of violations that can occur.
Portfolio governance: Forethoughtful organizations need to build a strong application portfolio for running a successful business. To make a solid roadmap smoothly, a business transformation team whose responsibility is to educate the organization about the costs of application ownership should be established. Strong portfolio governance enables business management to figure out whether the applications fit in the purpose of the organization now, or whether it is prioritized in current market conditions. Usually, under a strong application portfolio governance, standard metrics can be established and those would usually not be based on processes (the HOW) but on the deliverables (the WHAT) in purpose-made applications.
Strong portfolio governance helps the organization set the right priorities, bridge a multitude of gaps (resources, talent, processes). It helps to improve differentiated business competency; manage its portfolio of relevant cross-border strategic synergies and organizational dependency-interdependency cycle with the appropriate mix of enabling organizational elements for balance effectiveness and efficiency; process and flexibility, design and standardization.
Without effective governance discipline, businesses will face significant risk for surviving, and opportunities which it creates cannot be properly transferred into multidimensional business value. Strong governance disciplines enable the organization to clarify multifaceted values of stakeholders, getting their feedback, fresh ideas in a well-organized effort all the time, to build their corporate strategic goals for conveying the multitude of values smoothly.
Information governance: Information nowadays is one of the most crucial business assets besides people. Information-savvy governance is about prediction and prevention via circulating information within the ecosystem seamlessly. Information governance is more often a structure for what you are going to do, who is going to do it, how it is going to be done, and how it is going to be repeated, and make sure you have architectures, standards, stewardship, compliance and all important things covered.
It’s important to improve information reliability, authentication, reusability, consistency and security. The proper information governance is not a one time exercise but a constant review. Successful companies with great information governance have set up governance committees that include representatives from various parts of the business and agree on how the information will look, be deployed to create value, deploy and open new information from the dynamic business environment continuously.
Process governance: Corporate governance is about guiding and regulating collective organizational decisions and behaviors to achieve strategic goals and serve the fundamental purpose for which the organization was created in the first place. A business process is "smart" when it accommodates controlled excursions away from what would otherwise be a rigid sequence of steps. Process intelligence can also mean process governance –the process to manage processes, such as risk control, compliance, monitoring etc. It fits the growth perspective of the organization and leads to a new way of doing business.
There are different types of process governance initiatives that are likely to be aligned with process improvement and change, such as process governance for improving efficiency and standardization; governance for leading customer focus; or process governance for harnessing innovation. It’s important to standardize processes, optimize costs; improve operational effectiveness, manage risk, and make sure that enough resources are available to make continuous deliveries. Process governance allows the advantages of standardization, decrease in duplication of effort, and decreased risk of violations that can occur.
Strong portfolio governance helps the organization set the right priorities, bridge a multitude of gaps (resources, talent, processes). It helps to improve differentiated business competency; manage its portfolio of relevant cross-border strategic synergies and organizational dependency-interdependency cycle with the appropriate mix of enabling organizational elements for balance effectiveness and efficiency; process and flexibility, design and standardization.
Without effective governance discipline, businesses will face significant risk for surviving, and opportunities which it creates cannot be properly transferred into multidimensional business value. Strong governance disciplines enable the organization to clarify multifaceted values of stakeholders, getting their feedback, fresh ideas in a well-organized effort all the time, to build their corporate strategic goals for conveying the multitude of values smoothly.
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