Understanding concepts of Governance
Understanding concepts of Governance
Governance
Refers to a process whereby elements in society wield power, authority and influence and enact policies and decisions concerning public life and social uplift.
Means the process of decision-making and the process by which decisions are implemented (or not implemented) through the exercise of power or authority by leaders of the country and/or organization.
Corporate Governance
Corporate Governance
System of rules, practices and processes by which business corporations are directed and controlled. Corporate governance is of paramount importance to a company and is almost as important as its primary business plan. It enhances a company's image in the public eye as self policing company that is responsible and worthy of shareholder and debtholder capital. It dictates the shared philosophy, practices and culture of an organization and its employees. A corporation without a system of corporate governance is often regarded as a body without a soul or conscience.