Which of the following components is not part of the governance system design process?

In the governance system design process, the primary focus is on establishing a framework that ensures accountability, performance, and risk management within an organization. The components typically included in this process revolve around identifying risks, establishing clear objectives, and defining an implementation roadmap to achieve those objectives.

Measuring industry trends, while potentially valuable for strategic insights and context, is not a direct component of the governance system design process. Instead, it serves as external information that can inform decision-making but does not directly contribute to the structural design and operationalization of governance frameworks. The governance system design primarily involves internal assessments and planning rather than external market analysis. Hence, it is correct to identify that measuring industry trends is not part of the design process itself, but rather may be used as supplementary information when setting objectives or evaluating governance effectiveness.