- Definition of Governance
Governance is the application of oversight to organized activities -governments and government agencies (at all levels) -civil society organizations -businesses (for profit and not for profit) to ensure, for the benefit of the resource providers to these activities (taxpayers, donors and investors), that these resources are managed in a sound manner and within established and agreed upon goals and time frames.
- Fundamental requirements for the application of Governance
- Appropriate structured governing bodies
- Qualified members of governing bodies
- Formal guidelines for members of governing bodies
- Clear delegations of authority
- Transparency and accountability to resource providers
- Essential tools to work with, such as –
- Mission statements for the organizations
- Business plans
- Performance measurement systems
- Management and financial audit authority
- Fundamental requirements for members of governing bodies
The appropriate education and experience to ensure the that organizations are managed in an effective, efficient, legal and ethical manner
A clear understanding of –
- The board and each member’s responsibility
- Governance and its application
- Management and its application
- Strategic and operational plans
- Performance measurement systems