The Path to Modern Governance
Most board members and senior executives have an understanding of governance. They appreciate its importance to the wellbeing and long-term viability of their organisation. However, it can be challenging to put acquired governance knowledge into effective practice in your own organisation.
Common reasons that derail an organisation’s journey on the path to achieving modern governance include:
- board reporting that focuses on activities rather than outcomes
- board members’ lack of understanding of the ‘should know’ mindset
- focus on today and tomorrow, rather than next month and next year
- poor understanding of the link between risk and strategy.
This is the journey on the Path to Modern Governance. Based on work with hundreds of boards and management teams over three decades, GovernRight can guide your organisation, board and management team’s successful journey on the path to good governance.
Aware – Shift the Mindset
The GovernRight Aware workshop considers the challenges of modern governance in the context of uncomplicated, practical models such as:
- “It’s not your money” – overview of duties and responsibilities of directors and officers
- “Should Know Mindset” – the right relationship with management, supported with the right board information
- “3 Hats of Governance” – to clearly distinguish between ownership, oversight and operations
- “Growth, Change, Risk Model” – aligning reporting to governance responsibilities and reporting to outcome, not activity
and then explores how to build and embed a modern governance and reporting framework to meet these challenges.
This popular workshop is a cost-effective way for boards and senior executives to:
- develop a common language about governance issues
- learn some simple yet powerful models to develop clarity
- identify the next steps on the journey to make governance work.
It involves practical discussion so that you and your team develop a collective understanding of modern governance and the road map to build it.
Want to take the first step on the path to good governance? Contact us today to book a GovernRight Aware workshop.
Build – Update Governance Content
A GovernRight Build session will develop your organisation’s outcome-focused governance content, based on your existing content, or extended to develop new, improved content, aligned to the Seven Pillars of Good Governance.
The session will focus on the Three Lenses of Modern Governance:
- Growth, Change, Risk (Pillars 2, 3, 4)
- with the board overlay of risk appetite
- to ensure the correct Resource Deployment (Pillar 5).
Using the proprietary GovernRight Build Platform, you can:
- facilitate development of your organisation’s strategic plan
- help identify emerging items to monitor
- develop a risk register focused on and aligned to accountability of management functions.
Most valuably, your GovernRight Build session can produce an updated, targeted Governance Plan for your organisation. You are now ready to move to embed this content in your governance and reporting framework.
Time to update and improve the quality of your organisation’s governance content? Contact us today about a GovernRight Build session.
Embed – Take Governance Theory into Practice
GovernRight Embed is a digitised governance framework built into a unique, cloud-based oversight platform that embeds modern governance into your business’s regular governance and reporting cadence. It produces a board pack that:
- Focuses on Outcome Over Activity: GovernRight Embed builds a culture of outcome over activity. Progress on key projects is reported in the context of the strategic pillars they deliver. It encourages your board to focus on its obligation to allocate resources to deliver the strategic plan.
- Provides for Positive Assurance: In line with growing expectations, boards should seek positive assurance of adherence to critical policies. With GovernRight Embed, board papers identify key policies against both strategic pillars and governance risks, inviting management assessment and assurance of compliance with such policies.
- Aligns Board Discussions: The cost of reporting can be substantial, especially for large or multi-faceted organisations. Redesigning board papers with GovernRight aims to better align project owners, management, committees, and the board itself, with related opportunities to save.
- Supports the Oversight Role: By encouraging a forward-looking perspective, integrated reporting supports your board to meet its key role to oversee:
- Growth – implementing strategy to build a sustainable organisation
- Change – monitoring and managing significant changing and emerging risks to and opportunities for your organisation
- Risk – identifying, mitigating, managing and positively assuring identified risks in your organisation’s operations
- Uplifts Performance Drivers: GovernRight Embed encourages a system of clear, precise KPIs to demonstrate that today and tomorrow are under control. This allows your board to focus on next month and next year and communicate its approach to resource deployment.
The benefits offered by GovernRight Embed are further optimised by implementation of our GovernRight Platform offering.
Serious about embedding a governance and reporting framework to meet the challenges of modern governance in your organisation? Contact us today about GovernRight Embed.
Improve – Never Standing Still
Governance is ever-changing, which throws up new risks and director responsibilities. That’s why we describe your organisation’s governance challenges as “modern”.
Improve is the seventh and last pillar of the GovernRight Framework, but is closely connected with the Should Know Mindset model that underpins the first, Right People in the Right Roles, pillar of the GovernRight Framework. This is the ongoing loop of continuous governance improvement that is fully supported by GovernRight.
The GovernRight Improve methodology may help your organisation, no matter the maturity level of its governance processes, to keep team members fresh and alert to the continually evolving demands of modern governance. GovernRight Improve works well in conjunction with the GovernRight Assess offering.
Realise the need for a cycle of continuous improvement for your organisation to meet the evolving challenges of modern governance? Contact us today about GovernRight Improve.
Want to know more?
Contact us today to find out where your organisation sits on the Path to Modern Governance, and the right next step for your board — starting with an Aware workshop.