To the many LinkedIn colleagues who have asked me about my company’s tag line, or motto. Here is the background and update.
When I set up my consulting business I did it with the intent that I would stay with it as long as there are clients to work with. That was 24 years ago. Today the company has a motto that is representative of what has been the accumulation of successes (and yes, even a disappointment or two) through all those years, in many geographies and sectors, in the C-suite and among managers.
What does the motto: ‘Raising the Bar . . . Closing the Gaps’ really mean?
At my very first consulting engagement I got a mandate to create a business case to get an increase in state funding for a specialty hospital in the USA. This was about ‘Raising the Bar’ on funding. I knew little about running a hospital, but a lot about how to make a good business case in a tough situation. It was one complex problem, but I set out intending to get the funding; in essence ‘Closing the Gap’. The proposal was accepted and the hospital saw a <40% increase in funding. That set my company on a path to work with companies that are all about ‘Raising the Bar and Closing the Gaps’ in program performance, compliance and risk management. There has not been a dull year!
Raising the Bar means achieving a higher level of performance and results.
Closing the Gap means the gap between working with what it takes versus making do.
Often companies are too close to their own issues to be objective and dispassionate about the root causes contributing to gaps; consequently, the pressure creates emerging risk, compliance failures and operational cost overruns.
Our solutions have been pretty straightforward. It always starts with a clear objective and clarity in what outcomes are expected and then keeping focus and effort on the job at hand. This is not about scope, it is about clear answers to questions.
In the next 3-5 years businesses will see much more disruption and it is now more critical than ever for management to look very closely at how they structure their strategic programs, identify emerging risks that directly impact objectives and how to manage compliance processes that will satisfy regulators. Three imperatives that must be continually aligned.
Compliance is a tricky one! Many companies report their compliance functions are fragmented as a result of the onslaught of regulations between 2008-2016. There were so many coming at once that few had an opportunity to truly stand back and get strategic with compliance.
What do your program, compliance and risk management frameworks look like? Obtain your copy of our updated Compliance Management Framework here. The key to success is in the organized implementation.
Now is a time to revisit all three. The disruption of new technology (RegTech/FinTech) will compel the way programs, compliance and risk are managed going forward.
Ask us about conducting a Compliance Management Framework workshop for your company. Learn how you can make the tool come alive for your organization.
UVIDI > Raise The Bar
We turn transformational change and operational challenges into strategic opportunities.
We help our clients to overcome the business challenges associated with change and achieving strategic objectives. We’ve been solving problems, reducing risk, designing solutions and managing programs for over 30 years – it’s part of our identity. We work with businesses to help them execute their strategic priorities and achieve results by reducing their risks and ensuring that decisions are aligned to the values of the organization.