GRC (Governance, Risk Management, and Compliance)

GRC stands for Governance, Risk Management, and Compliance. It refers to the strategies and processes that organizations use to ensure they are managed effectively, can identify and handle risks, and follow laws and regulations. Governance involves establishing policies and procedures to guide the organization, risk management focuses on identifying and mitigating potential problems that could threaten the organization, and compliance ensures that the organization adheres to external laws and internal standards. Together, GRC helps organizations operate responsibly and sustainably while safeguarding their reputation and assets.