Published: 15 March 2024
As corporate decision making becomes more interdependent, general counsel are leading cross-functional corporate initiatives on topics ranging from ESG to ERM to AI risk management. Yet, major barriers are hindering cross-functional teams’ effectiveness. GC can take three steps to help them succeed.
General counsel (GC) are increasingly tasked with leading cross-functional working groups on topics such as environmental, social and governance (ESG); information governance; AI governance; and enterprise risk management. Today’s GC should expect to steward at least one cross-functional initiative per year.
Cross-functional teams face significant barriers to effective collaboration, including lack of cooperation, poorly defined roles, unclear goals and inadequate upper management support.
Three crucial factors can help cross-functional projects succeed: a capabilities-based team of experts, shared goals and accountabilities, and strong executive sponsorship.
To effectively lead a cross-functional initiative, GC should:
Build a cross-functional team around the capabilities
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