Governance and Corporate Success
As defined by the Governance Institute of Australia “Governance encompasses the system by which an organisation is controlled and operates, and the mechanisms by which it, and its people, are held to account. Ethics, risk management, compliance and administration are all elements of governance.”
Viewed in this light governance can be compared to how well an organisation police itself and be accountable to all its stakeholders. Poor corporate governance will inevitably lead to corrupt practices, toxic culture, loss of public trust and collapse of the organisation. If leaders want their organisations to thrive and succeed, good governance is non-negotiable.
Enterprise Care offers a range of advisory products and services to assist with transforming your organisations. Read how our Governance Intelligence® Audits have successfully helped Boards and Executives transformed their organisations.
Organisations operate within what can be described as an agitated and disruptive environment. Some refer to it as VUCA – Volatility, Uncertainty, Complexity, and Ambiguity.
Toffler, around 50 years ago, spoke of a sickness called future shock; and foresaw the challenge of “dizzying disorientation brought on by the premature arrival of the future”.
While seeking to achieve its objectives; every organisation faces the expected as well as increasingly the unexpected, and highly disruptive changes in their operating environments.
Operating within this VUCA environment requires a different approach. As Dr Carl A. Gibson, Director, Executive Impact comments in Transforming for a disruptive world – “Many individuals, teams and organisations are poorly equipped to deal with the disruptive forces that VUCA conditions are creating. We need a different approach to dealing with this disruption-related risk, …….”
Today’s organisations therefore need strong and effective governance. However, the strength is not in more prescribing of norms and behavioural patterns via codes or statements or policies. It must now be more nuanced. It is now much more about the organisation’s culture ensuring that people are responding to the stimulus influenced by their alignment to the organisation’s values. It is far less about the control exercised through extensive procedures and bureaucracy.
The challenge often for Boards, CEOs and Senior Executives is how can they best understand the swirling forces within the organisation. The challenge continues to be how to receive an early warning, and or to properly understand the various implications in time to act.
That’s where Governance Intelligence®, comes into the equation. It simply and quickly addresses the disorientation experienced across issues such as – unknown risks, strategic thinking and problem-solving, monitoring of business performance, Government policy and regulations, compliance, attraction and retention of staff/talent, cybersecurity, exploding data and information overload, reputation, brand value and trust, and innovation.
By Governance Intelligence® Audits delivering the timely insights these become more manageable and less negative on the business and its long-term performance.