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Governance vs Management

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Corporate governance is the practice of directing and controlling the management of a firm. It can be seen as a system of checks and balances whereby the management of a firm is itself managed. In other words, managers direct and control a business and governance directs and controls management.
An organization's Board of Directors is responsible and accountable for governance. They represent stakeholders including owners, investors, creditors, employees, customers, partners, governments, regulatory bodies and the communities in which the firm operates.
Governance duties include areas such as management performance, ethical conduct, sustainability, compliance, transparency & disclosure, reputation, executive pay, risk management, internal controls and financial due diligence.
Overview: Governance vs Management
Governance Definition
Directing and controlling the management of a business to guarantee compliance, risk management, transparency, due diligence, ethical conduct and defend the interests of stakeholders.
Management Definition
Directing, controlling and leading a business.
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