Improving Business Governance !

As finance leader, You need to know how is the governance "RATING" of each business unit. It was measure from its compliance  to 1) standard business process and 2) internal control.

You need to define rating  from Level 1- Level 4.  Level 1 means  poor, internal control and business process are weak. Level 4 is as world class standard. You may sleep well if the business unit already at level 3-4, but You need to always  wake up when you have business unit  that only at  level 1-2.

Launching BLUgo-Blue Bird Governance and Operating Process

How to Define Standard Business Process & Internal Control

First, You need to define key standard business process and internal control for each level. For fundamental version (basic), You will have  approx 60 business process and internal controls. This must be cover all process in each business unit both operation (sales, marketing, production) and supporting function (finance, IT, HR).

An example for business process: Marketing Strategy and Port Folio. You need to define standard for each level (1-4).

Request each Business Unit to do self assessment

After doing kick off, training and socialisation, You need to ask business unit to do self assessment. Total score will be the average of 60 controls. You may ask internal control department to review and validate the result of self assessment. This is to ensure quality. Repeat this process on annually base. Once We get the average score/rating, the next job is to ensure business unit  keep improving and progressing to level 3-4. 

Get alignment from all stakeholders to ensure smooth implementation

All key manager/GM/Business head signed the commitment board. This to ensure engagement from all team.