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10 Examples of Governance

 , updated on May 04, 2018
Governance is the direction and control of an nation, region, community, organization, department, group or program. The following are common examples of governance.

Principles

Governance bodies establish a mission, vision and set of principles that guide decisions at the management and working level. For example, a sustainability principle such as "we strive to minimize our impact on the environment."

Strategy

Development and implementation of goals and plans to achieve those goals. In many cases, management will propose strategy and a governance body will review and approve it.

Policy

Implementation of rules such as a policy of separating personal and corporate social media accounts.

Norms

Norms are expectations that aren't encoded as strict rules. This respects the intelligence of the individual with general guidelines as opposed to detailed regulations. For example, "be nice to each other, be nice to the customer."

Control

Governance bodies control an organization. This is achieved by selecting the Chief Executive Officer and monitoring organizational performance and risk to take preventative and corrective actions where required.

Fiduciary Duty

Exercising care and control of money and assets with loyalty to the primary stakeholders of an organization. This includes implementation and monitoring of sound financial management and compensation policies. Governance bodies are expected to exercise due diligence in financial decisions to defend the interests of stakeholders.

Accountability

Governance bodies are accountable for the performance and community impact of an organization. They also play a critical role in holding management accountable for their performance. Governance bodies are expected to be engaged to quickly identify failures and hold management accountable.

Risk

The identification and management of major risks facing an organization. For example, governance bodies are expected to manage financial, competitive and information security risks.

Compliance

Governance bodies are accountable for compliance to laws and regulations. For example, a compliance body may direct management to achieve compliance to a new regulation and monitor compliance on an ongoing basis.

Reputation

Building a positive reputation for your organization amongst stakeholders and the public. This includes setting a positive tone at the top and holding everyone in your organization accountable for their behavior. Reputation also stems from your behavior as an organization in areas such as environment, community impact and risk management.
Overview: Governance
Type
Definition
The direction and control of an nation, region, community, organization, department, group or program.
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Corporate Governance

This is the complete list of articles we have written about corporate governance.
Accountability
Business As Usual
Business Ethics
Business Principles
Capability Management
Compliance
Conflict Of Interest
Corporate Identity
Corporate Reputation
External Stakeholders
Fiduciary Duty
Information Security
Risk Management
Insider Trading
Social Obligation
Internal Controls
Sustainability
IT Governance
Tone At The Top
Material Information
Transparency
Mission
Organizational Culture
Power Structures
Precautionary Principle
Privacy
Regulatory Risk
Reputational Risk
Stakeholders
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Social Responsibility

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Stakeholders

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Compliance

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Corporate Governance

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Fiduciary Duty

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Precautionary Principle

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