Which step in the Governance System Design Workflow involves understanding the enterprise context and strategy?

The first step in the Governance System Design Workflow focuses on understanding the enterprise context and strategy. This step is crucial because it sets the foundation for all subsequent actions and decisions regarding governance. By comprehending the broader context in which the organization operates, including its goals, objectives, risk appetite, and regulatory environment, one can tailor the governance system to effectively support and align with the enterprise's strategic objectives. This foundational understanding ensures that the efforts invested in governance are relevant and capable of driving the desired outcomes in line with the organization's mission and vision. In essence, this step is about gathering the necessary insights that inform how governance structures and processes should be designed to meet the specific needs of the enterprise.