What are the Challenges in Achieving Strong Governance?
While the benefits of strong governance are clear, achieving it can be challenging due to various factors:
Complex Regulatory Environments: Navigating different regulations across jurisdictions can be difficult and time-consuming. Resistance to Change: Employees and even some leaders may resist changes to established practices and mindsets. Resource Constraints: Implementing comprehensive governance practices can require significant time and financial resources. Balancing Short-Term and Long-Term Goals: Leaders often face pressure to deliver short-term results, which can conflict with the pursuit of long-term sustainability and ethical practices.