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What is GRC (GOVERNANCE, RISK, and COMPLIANCE)?


GRC is the integrated collection of capabilities that enable an organization to reliably achieve objectives, address uncertainty and act with integrity.
GRC as an acronym denotes GOVERNANCE, RISK, and COMPLIANCE .
The acronym GRC was invented as a shorthand reference to the critical capabilities that must work together to achieve Principled Performance — the capabilities thatintegrate the governance, management and assurance of performance, risk, and compliance activities.
This includes the work done by departments like internal audit, compliance, risk,
legal, finance, IT, HR as well as the lines of business, executive suite and the board itself.

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How can I foster a culture of change?


Foster a culture of change includes to promote each self-managed work teams, this is undoubtedly by the most challenging of all leadership endeavors, but it is also the most rewarding over the time. Great leaders involve employees from all levels in the business operations.
By creating an environment of trust and openness and developing a culture of risk-taking, leaders are able to turn over the responsibility of the daily operations to the employees.
These leaders recognize the need and take active steps to produce ownership within the ranks.

 

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