What is GRC?
The Atlanta GRC bootcamp is going well! One discussion/interaction point was to define GRC – the group came up with some excellent points. They include:
- GRC is about how to better run a business and provides the foundation for growth based on principles.
- GRC is ensuring you have a well run and sustainable business.
- GRC is about fostering corporate integrity and trust.
- GRC represents the risk bearing capacity and direction from the board on down into the organization.
- GRC is about how to make money while staying out of trouble.
- GRC is a de-siloized perspective of risk and compliance.
- GRC involves an integrated platform to identify and respond to risks.
- GRC is a proactive approach to managing risk and compliance that replaces the reactive approach of the past.
- GRC involves a methodology to manage business objectives and stay out of trouble.
- GRC requires a warehouse of risk and compliance information and relationships.
- GRC is a cohesive, ethical, and centralized approach to minimize loss and adverse events.
- GRC requires a common vocabulary and collaboration across business roles.
- GRC is about the tone at the top of the organization
- GRC represents a common framework, methodology, and tools that support it.
- What is GRC, depends who you talk to?