Family and Business
Governance
A vital function to define, keep and foster institutional trust and character
Our ambitious clientele looking for global standards require governing and operating structures that support their vision. Our practice of Business Governance handholds them in fulfilling their ambitions through an extensively designed governance implemented with a team of global experts.
What Business governance is and how does it help?
Governance is about the time you dedicate to work ‘on’ your business rather than ‘in’ it. This includes all the checks and balances you put in place to ensure that your business runs smoothly, meets its objectives, and stays out of trouble.
Governance also means getting expert advice on matters you don’t yet know enough about, plus the support required when making big decisions. Governance includes all the practices, processes, and policies that help you guide your business in the right direction. Any task that focuses on the ‘big picture’ is part of Business Governance.
How Governance Helps
Safer & faster decisions
Risk mitigation & management
Improve trust and character
Attracting better clients & talent
Ensuring control, continuity, and performance
How SOCH can help
This practice of SOCH helps our clients to build an enterprise-wide system for trust and character. Most family businesses in India lack systemic-level governance, making it difficult to grow beyond a certain level. This practice has helped our clients develop mechanisms to ensure control, manage risks and diversify with ease and efficiency. Governance may seem less important, but in reality, it is a critical function for businesses to avoid unwarranted loss of financial capital, human capital, morale capital and social capital.
Our practice of Governance includes:
Design and implementation of family governancehttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Family-governance
Design and implementation of business governancehttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#business-governance
Establishing enterprise-wide control, assurance, guidance, and compliancehttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Establishing-enterprise
Developing the business risk management strategieshttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Developing-business
Protecting the identity and financial riskshttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Protecting-identity
Culture of adherence with governing policies and ruleshttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Culture-adherence
Setting the context for direction for leadershiphttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Setting-context
Stipulate the investment case, business case and a growth casehttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Stipulate-investment
Developing the skills and mental muscles for governanhttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Developing-skillsce
Ensuring benefit realisation as per the investment casehttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Ensuring-benefit
Spearheading the enterprise roadmap for capital and identity managementhttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#benefit-realisation
Facilitating working groups, knowledge groups and various forums for internal compliancehttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Facilitating-working
Building and managing office of strategy managementhttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#Building-managing
Building and managing office of program and portfolio managementhttps://www.soch.ooo/our-services/the-practice-of-governance/practice-of-enterprise-architecture-includes/#developing-management
Our Latest Insights
(Measurable cost & also, immeasurable)
Family business history contains many examples of what can happen without an effective governance. Emotions among even a handful of shareholders can erupt into clashes that disrupt future goals & planning, tie up families in court for years and drain all tangible and intangible value. Case: The scenario: One of the family businesses, in 2014,
Family Constitution & Family Governance Increase Your Acceleration For Hyper Business Growth
Family constitution and family governance increase your acceleration for hyper business growth. Rhetoric, but let us ask: Should you care to have your family constitution & governance? In our work as a specialized consultant to global UHNIs & HNIs of family enterprises, we learned that mainly Indian family businesses are on the brink of permanent success with
Money or Wealth or Dynasty?
The difference of the above three creates or destroys family businesses beyond their 2nd or 3rd generation Truth #1: Family business focusing on earning money get money. Truth #2: Family business focusing on earning money get wealth. Truth #3: Family businesses focusing on creating a dynasty that lasts for generations in love, harmony and wealth get exactly what they live daily