A shared objective driven management system
Ever since the Enron scandal in 2001, stakeholders have desperately asked for a better governance ensuring that business objectives will be met and value returned. But the business scandals continue and are reported in media every day - for instance the recent horse meat scandal but there are many, many more.
Operational Governance has grown in importance as a complement to Financial Governance in order to prevent business scandals from happening repeatedly. But unfortunately Operational Governance is not as developed and mature. It is performed in silos with little coordination sometimes causing more trouble than providing business value. But existing best practice says it is the same principles as within Financial Governance, which is working.
Can the Financial Governance principles be applied within Operational Governance?
iFACTS is challenging the existing silo approach with a systematic method to reach a shared management system, which involves all parts of the organization from Management & Board, to Operations and Controlling. With the iFACTS method a shared, objective driven management system can make the Operational Governance as effective as the Financial Governance.