In the world of business (and innovation), “risk management” does not necessarily mean risk prevention. Often, there will be core areas where your company is willing to take risks in order to generate returns, such as entering a new market or developing a new product.
This ExecBlueprint describes an integrated approach for managing performance, risk, and compliance through centralized governance processes. It is called “GRC” (governance, risk management, and compliance), and it provides a framework for sharing policies, processes, and documents at the enterprise level to improve communication, create organizational efficiencies, and reduce unnecessary risk.
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