Governance Definition & Meaning | YourDictionary (2024)

FAQs

What is the meaning and definition of governance? ›

Governance has been defined as the rules of the political system to solve conflicts between actors and adopt decision (legality). It has also been used to describe the "proper functioning of institutions and their acceptance by the public" (legitimacy).

Governance refers to all processes of governing, the institutions, processes and practices through which issues of common concern are decided upon and regulated. Good governance adds a normative or evaluative attribute to the process of governing.

One framework developed by Mosmann and Klutt distinguishes four types of governance: pure market, pure clan, market-hierarchy hybrid, and clan-hierarchy hybrid. These types vary depending on the main activity and primary aim of the community.

Governance is a system that provides a framework for managing organisations. It identifies who can make decisions, who has the authority to act on behalf of the organisation and who is accountable for how an organisation and its people behave and perform.

Good governance is underpinned by five core principles. An organization that uses good governance is one that always, in word and action, demonstrates: accountability; leadership; integrity; stewardship; and transparency (the A - LIST).

Five modes of governance are distinguished: hierarchical governance, market governance, network governance, self-governance and knowledge governance.

Definitions of governance. the act of governing; exercising authority. synonyms: administration, governing, government, government activity.

The process of collective decision‐making and policy implementation, used distinctly from *government to reflect broader concern with norms and ...

Governance is the process whereby elements in society wield power and authority, and influence and enact policies and decisions concerning public life, economic and social development.”

Governance helps you to always act in the best interests of the business. More specifically, it can improve the performance of your business, help it become more stable and productive, and unlock new opportunities. It can reduce risks, and enable faster and safer growth. It can also improve reputation and foster trust.

What are the 3 C's in governance? ›

Instruments of Informal Governance: Co-optation, Control and Camouflage. The evidence collected in the research supports the relevance of three types of informal governance practices. Nicknamed “the 3C's”, they are associated with high levels of corruption.

Process governance is the framework that defines how business processes are designed, executed, monitored, and improved. It ensures that processes are aligned with the strategic goals, values, and policies of the organization.

Governance structure refers to the framework of project management, especially regarding rules, procedures, roles and the division of responsibilities within the whole decision-making process. It keeps the project in check, allowing it to run flawlessly and in accordance with the plan.

Governance can be defined as: “The system by which entities are directed and controlled. It is concerned with structure and processes for decision making, accountability, control and behaviour at the top of an entity.