What is the responsibility of senior management as part of Governance?

The responsibility of senior management as part of Governance primarily involves developing business strategies. This entails setting the overall direction for the organization, aligning resources to achieve its goals, and ensuring that the company's vision, mission, and core values are effectively communicated and implemented throughout the organization.

Senior management plays a crucial role in decision-making processes, which includes identifying opportunities for growth, assessing risks, and ensuring that the organization's strategies are in line with stakeholder expectations. This strategic oversight is vital for maintaining competitive advantage and achieving long-term objectives.

While reviewing employee performance, conducting financial audits, and directing customer service operations are important activities within an organization, they typically fall under the responsibilities of middle management or operational teams rather than being a primary focus of senior management's governance role. Senior management's engagement in governance is more about providing leadership and oversight for the organization's strategic vision and ensuring that all parts of the organization are working toward the same objectives.