Governance is the system or framework of processes, structures, rules, and norms through which decisions are made, authority is exercised, and actions are controlled and held accountable within an organization or society. It shapes how power and responsibilities are distributed and how resources are managed to achieve collective goals and address challenges effectively
. Key aspects of governance include:
- Defining who can make decisions and who is accountable for those decisions
- Establishing rules and guidelines that set boundaries for acceptable conduct and practices among members of a group or organization
- Managing and mobilizing resources and capacities to meet the group's objectives
- Ensuring transparency, responsibility, accountability, and ethical conduct
- Adapting to changing circumstances to maintain responsiveness and sustainability
Governance applies broadly to various entities such as states, corporations, non-profits, communities, and even global systems. It can be formal, like government institutions and corporate boards, or informal, like community groups
. Good governance emphasizes fairness, stakeholder representation, effective policy formulation and implementation, dispute resolution, and legitimacy, fostering trust and cooperation among members
. It also aligns organizational strategy with societal, environmental, and economic goals, ensuring compliance with laws and promoting sustainable practices
. In summary, governance is the overarching framework that directs and controls how organizations or societies operate, make decisions, and are held accountable to achieve their intended outcomes effectively and ethically.
