What is Good Governance?
Updated: Dec 18, 2020
If there is chatter around the proverbial water-cooler about issues impacting productivity that are not propagating to the decision-makers for a resolution, there is a governance problem on your transformation.
Successful innovation and transformations require a corporate governance that supports iterative problem solving, empowers teams and enables autonomous communities. The concept of corporate governance is usually applied at the highest levels of the organizations in the form of rules, practices and processes used to direct and manage a company. Yet, often as you traverse the organization structure down to the task level, the governance often fades to a point of smoke-and-mirrors. This is especially true of a silo'd organization.
How can we ensure that the work teams are completing is actually aligned to the strategic direction of the company, if there is no traceability through governance?
In my experience, corporate governance is one of the most impactful and the least understood topic on transformations. Good governance must ensure efficient focus on the most impactful strategic initiatives for the company at all times. It must also align any work performed by the teams and partners to the corporate internal and external factors (this helps ensure things pivot quickly if something causes a change in the strategy).
How can you recognize good governance?
Quite simple: Each and every team member will be able to tell you the specific measurable impact their task has on the strategic initiative in detail, with context. I.E. there is a real time alignment among strategy, planning, and every team involved in execution all times.
How can companies achieve good governance?
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