Critical function and process inefficiencies no longer acceptable

Critical function and process inefficiencies no longer acceptable: must look at things in more holistic and sustainable way.

From Robert J Toogood, Senior Partner – Chaordic Solutions:

We live in exciting but unchartered and dangerous times.  The way in which modern organisations have evolved has unfortunately resulted in a fragmented, inefficient and quite often, ineffective approach to managing governance, risk management and compliance.

Whilst this weakness may have been barely acceptable and tolerable in previous decades, recent corporate failures have highlighted the vulnerability and implications of such a siloed-based approach.  The interconnected world in which we all now live dictates a much more integrated approach to handling the critical legal and regulatory activities associated with governance, risk management and compliance.  For these reasons, it is vitally important we learn how to more effectively manage the dynamic and complex interrelationships between these important areas.

An integrated approach to managing this complexity makes sound sense and in isolation, on paper, can be easily justified.  However, the barriers to effective implementation are many and need to be better understood.  Survey data from OCEG (2010) suggests that only 13% of respondents were able to claim they had harmonised or successfully achieved this level of integration.

The realities of the new world in which we all now live and work are such that we can no longer accommodate inefficiencies in our critical functions and processes.  The time has come for us to look at our organisations and society in general in a different, much more holistic, and sustainable way.  An integrated approach to managing governance, risk management and compliance provides us with a way of achieving this, provided we learn from the past and provide the correct environment for our efforts to succeed.

More … http://www.oceg.org/event/report-2010-grc-maturity-survey-findings

Related Services from Chaordic Solutions:

Compliance Implementation and Maintenance Support
Business Continuity and Pandemic Planning Support
Business Transformation Support
Portfolio Management and Strategy Implementation Support
Change Management Support
Mergers & Acquisitions Support
Programme and Project Management Support