An expert's insider secrets to how successful CEOs and directors
shape, lead, and oversee their organizations to achieve corporate
goals
Governance, Risk Management, and Compliance shows senior
executives and board members how to ensure that their companies
incorporate the necessary processes, organization, and technology
to accomplish strategic goals. Examining how and why some major
companies failed while others continue to grow and prosper, author
and internationally recognized expert Richard Steinberg reveals how
to cultivate a culture, leadership process and infrastructure
toward achieving business objectives and related growth, profit,
and return goals.
* Explains critical factors that make compliance and ethics
programs and risk management processes really work
* Explores the board's role in overseeing corporate strategy,
risk management, CEO compensation, succession planning, crisis
planning, performance measures, board composition, and shareholder
communications
* Highlights for CEOs, senior management teams, and board members
the pitfalls to avoid and what must go right for success
* Outlines the future of corporate governance and what's needed
for continued effectiveness
* Written by well-known corporate governance and risk management
expert Richard Steinberg
Governance, Risk Management, and Compliance lays a sound
foundation and provides critical insights for understanding the
role of governance, risk management, and compliance and its
successful implementation in today's business environment.
Autorentext
RICHARD M. STEINBERG is founder and CEO of Steinberg Governance Advisors, Inc. He is a nationally recognized expert on governance, risk, and control, and advises boards of directors of major multinational, large, and middle-market companies. He is a former senior partner of PricewaterhouseCoopers (PwC) and the leader of its corporate governance advisory practice. As an expert in internal control and risk management, Steinberg served as the lead project partner in developing the Committee of Sponsoring Organizations of the Treadway Commission's (COSO's) Internal Control—Integrated Framework, and led development of COSO's Enterprise Risk Management—Integrated Framework, the landmark reports recognized as standards for effective internal control and risk management. He has been featured on CNBC's Morning Call and Bloomberg TV's Bloomberg on the Markets and The Bloomberg Report; has guest-lectured at leading business schools including Columbia, MIT, and NYU; has been quoted in publications such as BusinessWeek, Fortune, the Wall Street Journal, Dow Jones MarketWatch, CNN Money, and the Financial Times; and is a monthly columnist for Compliance Week.
Klappentext
While facing various circumstances in different industries, many once-great organizations have watched their fortunes sink, while others ride the wave of economic turbulence to grow and reap the rewards of success. Governance, Risk Management, and Compliance examines this trend, with a realistic look at what separates the organizations that effectively achieve their goals—regardless of the circumstances—from the ones that wonder, "How did this happen to us?"
Renowned corporate governance and risk management expert Richard Steinberg—advisor to major multinationals' boards and CEOs and author of Corporate Governance and the Board—What Works Best, as well as principal author of COSO's internal control and ERM frameworks—helps you better understand the factors that make up the critical infrastructure that drives every organization. Here, you'll discover what must go right to prevent catastrophes and seize opportunities for continued success.
Steinberg provides authoritative insight into the essential collaboration necessary between senior managers and members of the board of directors, with timely discussion of:
- Critical factors for making compliance, ethics, and risk management processes truly effective
- How CEOs and senior management teams cultivate a culture and leadership process to support and drive performance
- How boards of high-achieving companies oversee corporate strategy, risk management, CEO compensation, succession planning, crisis planning, performance measures, board composition, and shareholder communications
- The pitfalls that managers and boards need to avoid
- The future of corporate governance and what's needed for continued effectiveness
With clear guidance on aligning processes, organization, and technology so your company achieves its strategic goals, Governance, Risk Management, and Compliance explains how to protect your company from financial and reputational risk, litigation, and government intervention and avoid the kinds of disasters that can befall any organization.
Zusammenfassung
An expert's insider secrets to how successful CEOs and directors shape, lead, and oversee their organizations to achieve corporate goals
Governance, Risk Management, and Compliance shows senior executives and board members how to ensure that their companies incorporate the necessary processes, organization, and technology to accomplish strategic goals. Examining how and why some major companies failed while others continue to grow and prosper, author and internationally recognized expert Richard Steinberg reveals how to cultivate a culture, leadership process and infrastructure toward achieving business objectives and related growth, profit, and return goals.
- Explains critical factors that make compliance and ethics programs and risk management processes really work
- Explores the board's role in overseeing corporate strategy, risk management, CEO compensation, succession planning, crisis planning, performance measures, board composition, and shareholder communications
- Highlights for CEOs, senior management teams, and board members the pitfalls to avoid and what must go right for success
- Outlines the future of corporate governance and what's needed for continued effectiveness
- Written by well-known corporate governance and risk management expert Richard Steinberg
Governance, Risk Management, and Compliance lays a sound foundation and provides critical insights for understanding the role of governance, risk management, and compliance and its successful implementation in today's business environment.
Inhalt
Foreword xiii
Preface xix
Acknowledgments xxiii
Chapter 1: What is GRC, and Why Does It Matter? 1
What is GRC? 2
Why GRC Matters 3
Chapter 2: Culture, the Critical Driver 5
What is Culture? 5
More Cultural Failures 6
Companies That Got It Right 8
Being Legal, Honest, Candid, and . . . 10
Integrity versus Spin 13
Speaking the Same Language 16
Chapter 3: Cost-Effective Compliance Programs 21
The Back-Breaking Costs 22
Beyond the Direct Costs 24
Major Mistakes at Platinum-Branded Companies 24
How Companies Got Where They Are 30
Keys to Getting It Right 31
The Compliance Office 36
Making It Happen 38
The Rewards 39
Chapter 4: Ethics Programs: Another Foundational Block 41
Tone at the Top 42
Problems at Daimler 42
Elements of an Ethics Program 43
Setting the Tone at the Top: Hewlett-Packard 51
Chapter 5: Risk Management and the Financial System's Near Meltdown 59
What Went So Terribly Wrong 59
The Regulatory System 63
Merrill Lynch 65
Where Were…