Governance = to steer; Governance is the process of deciding what an organisation shall do, and ensuring that it happens. Governance is separate from the management of staff and programmes, even where they are carried out by much the same group of people (NZICA, 2009).
It is not the role of a governance body to manage the everyday affairs of the entity but rather to steer the future objectives and strategies of the organisation as a whole.
Boards need to ensure that they are relevant to the businesses and organisations that they oversee.
A lack of good governance leads to such problems as the Global Credit Crunch.
Good governance can lead to progressive, quick reacting, strategic thinking companies and organisations that are well able to navigate the way ahead for them.
Really good governance thoughts and resources can be found -
http://www.nzica.com/AM/Template.cfm?Section=Governance
http://www.sparc.org.nz/sport/business-improvement/governance-templates
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