governance

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governance

the arrangements for managing or controlling a firm or other organization.

Particular interest has focused upon CORPORATE GOVERNANCE: who owns and controls JOINT STOCK COMPANIES.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

governance

the arrangements for managing or controlling a firm or other organization. Particular interest has focused upon CORPORATE GOVERNANCE: who owns and controls JOINT-STOCK COMPANIES.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The third section is an attempt has been made to highlight the significance of the good governance. A summary of findings would be discusses in the last section of the study.
The terms governance and good governance has been defined in many way but it lacks uniformity.3 These definitions are based on normative assumptions about new decision should be made within organization and the functioning of formal and informal structure for implementing such decision.
Scholars have defined the term governance from different approaches However, simply speaking, governance is the process of decision making and the process by which decisions are implemented (or not implemented).4 Tahir Naveed, defines governance as the management of resources, and organization of individuals and groups into formal and informal bodies and institutions and businesses, through social, political, administrative and economic mechanisms.5 The World Bank sees governance in two related slightly different ways.
Human development report 2002 of United Nations has given a new perspective to governance by terming it as democratic governance; which is essential for better human development.
Good governance implies presence of rule of law, safeguard of human rights, and existence of honest and efficient government, accountability, transparency, predictability and openness".8
For good governance, the presence of five variables is mandatory.
The recent worldwide governance has articulated six indicators for promotion of good governance:
Dev Raj believed that decentralization of political and economic power is the core of good governance. The power should not be concentrated at the center but needs to b e developed to the local institutions.
Thus the governance in any society, aims to ensure transparency through the exercise of economic political and administrative authority.
The following parameters of good governance have been identified on the basis of above definitions.

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