Most experienced business continuity and risk management professionals are well aware of the significant role that corporate culture and governance play in an organization’s success in managing risk and meeting customer satisfaction objectives for that organization. But all too often, many others have to be reminded of this important relationship.
Similarly, economic market forces directly relate the shareholder value of an organization to how well or how poorly organizations meet those objectives. Ignoring this important dynamic can often be a costly mistake organizations want to avoid.
And finally, if anyone still needs a reminder of how strongly correlated these issues are, they only need to follow the recent stories around Toyota to see the impacts of this dynamic working in full force.
In a recent story written by Ann All for the IT Business Edge website, a claim is made whereby it now looks as if Toyota’s dysfunctional corporate culture, rather than a defective technology or flawed manufacturing process, may end up with the lion’s share of the blame.
Perhaps the most important lesson to be repeated here is that corporate attention to governance, risk and compliance remains an objective that needs to be re-visited, re-evaluated as needed on a regular basis, and retained as a critical line item on the agenda of every Board meeting held by an organization.
Read this entire article, along with some valuable links to help you stay informed and in touch with this critical element of your organization’s corporate compliance strategy.