Governance Risk Compliance and Collaboration

Governance Risk Compliance and Collaboration

Corporate Governance | In the process of Good Corporate Governance, collaboration whether internally in the industry itself as well as among related government bodies has become a must. Collaboration as earlier known as working together or partnership was in the past less popular as industries were more thinking of competing with each other.

The old style of bureaucracy in government office had even worsened the thinking of collaboration. The ideal type of bureaucracy, as set out by Max Weber (1864 – 1920), was well followed by government bodies. However, as modernization moved forward to change management and the advancement of the electronic or digitalization industry became well accepted, the bureaucracy had been somehow replaced by de-bureaucracy.

In regards to more up-to-date and forward-thinking industrialization, the concept of collaboration is also well adapted through the current process of Governance Risk Compliance.   Corporations, the industry as  well as Government Bodies have undergone many changes in the last three decades.

Some others which are still based on the Weber legacy of clear hierarchical order, the concentration of power among senior officials, and limited channels of communication, will have to face a more challenging change in the process of the current Government Risk Compliance Management best practices.

The ideas of bureaucracy are substantially different from the nature of collaboration, which means open negotiation, transparency, participation, cooperation, free and unlimited flow of information, innovation, agreements based on compromises and mutual understanding, and a more equitable distribution and redistribution of power and resources. Therefore, in the process of following the Governance Risk Compliance.

Management is recommended through:

  • Strong working together, among internal managerial departments, divisions, or sections
  • Cooperation and integration with the advanced governmental policies
  • Alliance and holding a partnership with holding companies as well as agreed suppliers or outsourcing bodies as well as professional agencies

Note: As a flashback to Max Weber,  a famous German sociologist who invented and made popular the theory of bureaucracy which is a process that all business tasks must be divided among the employees to be checked by relevant bureaus or working tables or offices.

Ludwig Suparmo – Lead Trainer Compliance Management.

Originally posted 2022-07-20 14:39:21.