The best practices for implementing a governance operating model include: understanding the current state of governance, defining the desired state, identifying gaps, and developing a roadmap for transition. It's also important to ensure that the model is aligned with the organization's strategy and culture, and that it's flexible enough to adapt to changes. Regular reviews and updates are also crucial to ensure its effectiveness.
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Per Deloitte, "a governance operating model is the mechanism used by the board and management to translate the elements of the governance framework and policies into practices, procedures, and job responsibilities within the corporate governance infrastructure." And the benefits of using it include: