Collaborative Accountability in the Extended Enterprise: Managing Risk & Compliance Across Business Relationships
No company is an island unto itself: Organizations are a complex and diverse system of processes and business relationships. Risk and compliance challenges do not stop at traditional organizational boundaries. Organizations today struggle to identify, manage, and control governance, risk management and compliance (GRC) across extended business relationships. There is also a growing focus on corporate social responsibility (CSR) initiatives that force organizations to determine if business partners hold the same values, practices, and ethics they communicate to stakeholders, customers, and the world.
Any organization stands in the shoes of its vendors and delegated partners and entities — their problems are your problems and their issues can directly impact your brand and reputation. When questions of business practices, quality, safety, and ethics arise, the organization is held accountable, and it must ensure that business partners behave appropriately. Businesses must understand these issues across a range of risk issues that impact business operations and brand. The challenge for organizations is: "Can you attest to an in-compliance status of your extended business relationships?"
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