What is an Executive Think Tank?

An Executive Think Tank is a community compilation of "industry peers" whose businesses align with a particular NAICS or SIC code and whose members possess C-level or VP-level titles or who may be a part of a Board of Directors, Finance Committee, Audit Committee, etc. We use Executive Think Tanks to help us to form our core GRC Sphere tribes for executives, quickly, because once a Think Tank has been established, the executive peers can then start to develop a list of strategies that they'd like to employ to help them meet their business and GRC objectives. For instance, they can decide to offer their tribe these collaborative strategies to help all of their members:
1. Provide a documented Question & Answer forum that allows any member to ask a question of the community and get an answer. By leaving a documented audit trail the tribe forms a rudimenary knowledge base.
2. Use GRC Sphere Common Controls Hub (CCH) to develop a concise list of regulatory mandates (regulations, laws and statutes) which provides traceability between the "authority document" and the list of common controls that carry out the enforcement of the business rules.
3. Develop a knowledge base of requirements that are organized into requirement sets which are associated with core business objectives and GRC-related needs. GRC Sphere provides access to a knowledge base application for this very purpose as an extended member service.
4. Develop education that addresses industry benchmarking and then develop an industry benchmarking priority list of KPI's and KRI's.
There are many other tribe-related benefits for working together as industry peers, but the most important aspect in getting started is to reach out to find industry peers and promote the fact that your Executive Think Tank is in existence and looking for members to bolster the community. Time to get started!


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