Congratulations to Elaine Mullan, second prize winner of the 2024 Risky Women Writing Competition, presented in partnership with Bovill Newgate.
Dive into the surprising world of pop culture to uncover valuable lessons in GRC! From the cutthroat boardrooms of Succession to the nail-biting escapades of Mission: Impossible, these stories reveal that good governance and smart risk management are crucial for success. With a dash of humor and relatable analogies, it shows how movies and TV can make the complex world of GRC not just accessible, but downright entertaining—perfect for inspiring the next generation of GRC talent!
Pop culture may not seem like an obvious source of GRC wisdom, but the lessons are there if you know where to look. From the corporate backstabbing of Succession to the high-stakes missions of Mission: Impossible, these stories illustrate the importance of good governance, effective risk management, and unwavering compliance.
This article is inspired by my teenage daughters, Lily and Juno. Although they don’t have much (any!) interest in my work, they can understand more about my world through the use of analogies. Let’s face it, we all like a good story and many a tale has been shared through the centuries to pass on lessons and provide information. The lessons of governance, risk, and compliance told the in a memorable way in the hope of inspiring new talent into the field.
By looking at GRC through a pop culture lens we can make the areas of governance, risk and compliance more accessible and relatable, and with compliance teams struggling with recruitment, it’s a way of introducing those outside the sector to the intricacies and, possibly, the intrigues within. At the end of the day, whether you’re running a media empire, managing a secret government agency, or working in financial services compliance, the lessons of governance, risk and compliance remain the same: transparency, accountability, and preparation are key to long-term success.
This alternative view offers valuable GRC lessons that translate directly to the business world. In Succession and Star Wars, poor governance and unchecked power lead to dysfunction and collapse, highlighting the need for transparent, accountable leadership. Jurassic Park shows the catastrophic consequences of ignoring risk management, where failing to assess and mitigate risks results in disaster. The Wolf of Wall Street emphasises that compliance is essential for building trust, and neglecting it invites ruin. Finally, Mission: Impossible teaches the importance of clearly defining risk appetite, as organisations that don’t understand their risk limits can find themselves in crisis. Together, these examples underscore that strong governance, effective risk management, and strict compliance are essential for long-term success and stability.
Succession – a masterclass in corporate governance (and failure)
HBO’s Succession offers a striking portrayal of corporate governance gone awry. The Roy family’s battle for control of Waystar Royco, a fictional media conglomerate, exposes how toxic leadership and poor governance erode trust and destabilize the business. Logan Roy, the family patriarch, refuses to establish a clear succession plan, fostering a culture of fear, manipulation, and chaos. This lack of ethical leadership leads to regulatory scrutiny and public scandals. The key lesson? Leadership transparency and strong governance are vital. Without them, companies risk internal discord, external investigations, and long-term instability. Succession underscores the need for ethical, well-structured leadership to ensure business longevity.
Mission: Impossible – The art of risk management
In contrast to Succession’s dysfunction, the Mission: Impossible franchise showcases high-stakes risk management. Ethan Hunt (AKA Tom Cruise) and the IMF (Impossible Mission Force) face life-threatening challenges requiring split-second decisions and flawless execution—while most businesses won’t face nuclear threats (in fact, really unlikely!!), the principles still apply. Mission: Impossible emphasises careful risk assessment, preparing for worst-case scenarios, and having backup plans. Hunt’s ability to adapt under pressure highlights the value of agility and contingency planning. The IMF’s calculated risk appetite, balancing significant risks with potential rewards, offers a powerful lesson for businesses in understanding your limits and managing your risk strategically.
The Wolf of Wall Street and the dark side of compliance violations
Martin Scorsese’s The Wolf of Wall Street is a stark warning about ignoring compliance in the pursuit of profit. The film shows how Jordan Belfort’s disregard for ethics and regulatory rules led to short-term gains but ultimately prison. His empire collapsed as the FBI dismantled his fraudulent schemes, resulting in personal downfall. The key lesson? Compliance isn’t optional. In industries like finance, failure to follow regulations can have devastating consequences. For businesses today, compliance is about more than legality—it’s about building trust.
Star Wars – the galactic empire’s governance failures
The Star Wars saga, though not a corporate setting (obviously!), offers a powerful lesson on governance through the galactic empire’s downfall. Emperor Palpatine’s authoritarian rule, focused on centralised control over trust and collaboration, ultimately leads to failure. His unchecked power stifles innovation and breeds dissent, while risky projects like the Death Star, pursued without oversight, illustrate how poor governance can be catastrophic. In contrast, the Rebel Alliance’s decentralised, collaborative approach proves more resilient. The takeaway? Strong governance isn’t authoritarian—it’s about transparency, collaboration, and shared responsibility for long-term success.
Jurassic Park and the extinction of risk management
Jurassic Park is a perfect cautionary tale about the perils of poor risk assessment. John Hammond, CEO of InGen and the mastermind behind the park, is blinded by his belief that his genetically engineered dinosaurs are foolproof. This arrogance leads to disastrous consequences. The core lesson? Just because you can, doesn’t mean you should. Hammond’s failure to properly evaluate the risks of reviving prehistoric creatures mirrors real-world leaders who overlook critical threats in technology, regulation, or market dynamics.
By looking at GRC through the lens of pop culture, we find relatable and impactful lessons that go beyond boardrooms. Stories like Succession, Mission: Impossible, and Jurassic Park help demystify the world of governance, risk, and compliance, making it more accessible and engaging. My hope is that this approach offers a fascinating introduction for those unfamiliar with the often complex field of GRC.
FROM THE JUDGES
“So fun and simple. A small point is the choice of movies could be more diverse…”
“Pop culture – love it – makes GRC accessible for all.”
“Loved the originality and the readability.”
“A creative and unique look at GRC through pop culture, using some Hollywood blockbuster movies to make lessons in Risk and Compliance more relatable. This article has a very unique angle, and a personal touch…”