People who work in strategy and performance roles, such as the executive suite and c-suite, play an essential role in GRC. They set objectives and align strategies, tactics, and key results to achieve Principled Performance.
Effective strategy and performance help an organization reliably achieve objectives, address uncertainty, and act with integrity.
But strategy and performance management is needed at every level in the organization. Every department and team needs to set a strategy and manage the performance of their activities.
So doing your job in strategy and performance includes helping your peers understand what you do, how you do it, and how to apply it in their departments.Get the Ultimate Guide to Strategy & Performance
Modern strategy and performance management facilitates alignment with mission, vision and values at all levels and in every area of the organization.
Goals of Strategy & Performance
The goals of Strategy & Performance include:
- Setting objectives that align with mission, vision and values
- Formulating and selecting strategies and tactics to achieve objectives
- Defining objectives and measurable key results (OKRs)
- Managing performance, relative to risk and compliance
The role of Strategy and Performance in GRC is more than just two words.
Roles in Strategy & Performance
Strategy ensures that objectives and key results are aligned with mission, vision and values at every level of the organization. Every department across the organization should align with strategy, including departments focused on governance, risk, compliance, security, and audit.
People in strategy and performance management often have titles such as:
- CEO, CFO, and the entire c-suite
- Senior executives (EVP, VP, etc.)
- Strategic manager
- Performance management specialist
Others play a role in Strategy & Performance and vice versa.
Strategy & Performance Everywhere
It is essential for people who are NOT in strategy and performance management roles to understand the needs of their colleagues who ARE in strategy and performance roles.
At the same time, it is important for people in other roles to understand how to apply strategy and performance management concepts to their work.
This means that everyone should understand and apply the following:
- Strategy concepts and frameworks
- Objectives and key results
- Performance management concepts and frameworks
- Developing a strong business case for selecting particular strategies
Selected Strategy & Performance Resources
Ultimate Guide to Strategy & Performance
How Mature is Strategic Confidence in Companies Today?
How does your GRC Technology Strategy Measure Up?
Become an OCEG member today.
Start your free membership and receive lifetime access to hundreds of free resources. Or level up and access our full resource library with an all access pass for you or your team (required for GRC Certification).