GRC, The Backbone of Enterprise Management

Business enterprises need to be more adaptive than ever in this increasingly digitalized world. They must strategize by exhibiting traits that drive an effective response to change, including agile decision-making, the ability to respond cohesively, and the adaptive capacity to pivot and reposition while maintaining high levels of trust among stakeholders.

 

Because of this, Enterprise Risk Management is becoming a focal point of every boardroom conversation and a critical element in developing business strategies and objectives to optimize the decision outcomes. Organizations should focus on positioning enterprise risk in the context of business performance rather than viewing it as an isolated exercise to anticipate risk and mitigate it. 

 

That's where the GRC converges with ERM. Enterprise Risk Management plays a crucial role in establishing the processes and frameworks necessary for risk identification and mitigation. GRC capabilities provide insight into people, process, and technology layers required for the businesses to manage risks and adopt change effectively.

 

GRC, the backbone of the Enterprise Risk Management book, provides insights into harnessing the power of GRC for managing enterprise risks. The book is unique because it emphasizes on:

the top-down approach instead of the bottom-up to build GRC capabilities for enterprise risk management the Boards and executive leadership to understand their role in GRC enablement aligning people processes and technology by actively engaging three lines of defense creating a strategic functional unit to operationalize GRC leveraging technology as a lever to accelerate benefits and sustain the GRC capabilities for enterprise risk management.