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IT GRC: A Unified Approach
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There may be no such thing as the ‘Perfect Storm’, but when looking back over the last decade or so one can argue that the severity and number of adverse Enterprise events and factors which unfolded on a global basis more than warrant consideration for being branded with such a title. Call it what you will, but from the start of the new millennium when Enron collapsed and crashed, the world entered a period of unprecedented corporate and later governmental crises that not only left indelible memories, but embedded wounds that are still healing today and changed the game forever.
From the United States of America’s Levin-Coburn, to South Africa’s King III to the United Kingdom’s Cadburys, a range of reports surfaced detailing root causes, and offering counter-measures and solutions to avoid and prevent a repeat of what had happened previously. The analyses were intense and unforgiving, the identified failures deep and wide, and the prognosis was to adopt transformational change or ascend into perennial chaos, recession and depression. Indeed, the outlook alone was incentivization enough to catalyze sweeping reforms focused not only on regression but assuring progression to a brighter future than ever before.
Out of the fire new micro, macro and market environment demands emerged, fueled by the shortcomings of the recent past, and necessitating organizations to operate on a new playing field. Enterprises were not just to be challenged to transform practices and cultures, but were to be mandated to do the right things, to make the right decisions, and to follow a path of sustainable value creation. What better place to start than with the status quo.
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