Purpose to Performance: Embedding Risk, Governance & Strategy for Impact

Enabling accountable, risk-aware and purpose-driven leadership at every level.

On Wednesday 21st May, David Dunning (from the BIG CIC, Deepteam and CPS) supported the ACCA’s global CROs and Risk forum May session with a presentation, facilitated discussion, Q&A. This was an internal ACCA meeting, but it can be re-run.

The session was designed to introduce a comprehensive framework for managing risk and enhancing strategy execution in today’s rapidly changing environment – based on the Business Integrated Governance Body of Knowledge.

Key Takeaways for a Chief Risk Officer:

Business Integrated Governance (BIG) Framework – introduced the BIG framework, which helps organizations manage risk and enhance strategy execution. We explained alignment with ISO 37000.

Embedding Risk in Governance – the importance of making risk management a regular part of operational governance, more than a compliance task. It discussed how to integrate risk into business-as-usual operations and strategic processes.

Social & Environmental Risk and Purpose – the significance of shaping business purpose definitions in line with PAS 808’s Purpose-Driven approach. It provided insights into how organizations can develop strategies and approaches to embed purpose in their policies, processes, practices, products, services, and value networks.

Accountability Mechanisms – the importance of empowering teams with responsibility and support while ensuring accountability mechanisms are robust. It provided examples of accountability node structures and processes to ensure effective governance.

Prioritization and Strategy Delivery: the challenges in strategy delivery and the importance of prioritizing objectives to ensure successful execution. It discussed how to implement strategic objectives through clear lines of sight and prioritization.

Challenges and Solutions – common challenges in strategy delivery, such as lack of clarity, communication issues, and difficulties in cascading objectives. It offered solutions to these challenges through good governance practices and integrated strategy delivery.

During the session, we captured some really interesting discussion asking questions like:

• How far down into the organisation is there clear line of sight?
• Is your strategic process adequate to include Social and Environmentally driven Workloads?
• In your organisation, are objectives prioritised?
• Are you systematic and joined up about accountability?

Overall, this presentation provided valuable insights and practical guidance for a CRO to enhance risk management, governance, and strategy execution within their organization. We hope inspires organisations with an integrated vision of a risk driven strategy, and the means (deliverables and roadmap) to develop possibility into reality.

Please contact us if you would like to see a draft event write up, or become a Member to receive the article in due course.

Be our guest to watch a version of the material presented:

BIG Background:

• 2 min intro to BIG
• Website
• About the BIG CIC

Please contact us if you would like to explore these topics.