Organizations around the world are coming into an adjusted reality after a potent mix of healthcare, economic and political challenges.
It is critical now more than ever to take a hard look at how companies can manage risks and compliance while sustaining a culture that is strong in the face of unprecedented adversity.
A well-established GRC program should have a strong set of foundational principles that can adapt with changing times.
Outlined here are seven topics for organizations to cultivate and practice a forward-looking GRC program that is complementary.
- Recognize GRC programs are ever-evolving
- Words and context matter
- Embrace diversity
- Self-awareness is a good thing
- Being comfortable in the eye of the hurricane
- Encourage creative confidence
- Practice, measure, and repeat
As discussed in this paper, GRC programs are continuously evolving journeys—with a direction of travel that aims to improve an organization’s ability to manage the ever-changing landscape of threats including cyber, technology, operational, supply chain, and enterprise risks. It starts with a single step, but it does not have a final step—rather, the journey has to diffuse into your organization’s culture and become a way of life. It is usually exciting and sometimes painful, but if you have the right mindset, pragmatic set of roadmaps, and a great band of fellow travelers, it is a rewarding journey that is bound to raise the risk quotient in your organization and contribute to better practices in an organization’s management.