The Good Governance

What does “governance” mean?

            Governance has been characterized as institutions and procedures that promote accountability, integrity, flexibility, the rule of law, stability, equity, and inclusivity, empowerment, and broad-based involvement. It reflects the norms, beliefs, and basic rules that govern how public affairs are conducted in a transparent, participatory, inclusive, and responsive way. Governance, in a broad sense, refers to the cultural and institutional framework in which individuals interact with one another and engage in public affairs.

            In able to govern an organization, you need to know how to properly make a decision and its consequences. There are people inside this organization who will make the decisions. Those people have the power, knowledge, and experience that will help them to come up with the right decision. Once the decision has been implemented, everyone under the organization needs to be informed and obey the decision.

           Governance is not only applied in government but also in the corporate world. It guides and supervises management to ensure that the organization is attaining the intended results and that it is operating sensibly, ethically, and legally.

Why you should study “Good Governance”?

            Good governance is a government strategy that is devoted to establishing a system based on justice and peace that safeguards individuals' human rights and civil liberties. Participation, Rule of Law, Transparency, Responsiveness, Consensus Oriented, Equity and Inclusiveness, Effectiveness and Efficiency, and Accountability are the eight dimensions of good governance.

            We should study "Good Governance" because it will help us to understand the way the government or the person behind the decision, governs the whole organization or department. Through studying this, we will learn what the proper actions are to show our interest in being part of the firm. And when we decide to have our own business, we would know how to govern the whole business we build. Good Governance will help our business to have a good and improving performance at the end of the day. If you know how to govern business, you will find new opportunities to take that will help your business to be stable and productive. Learning the proper way to govern an organization will help not just the organization but also the people under that organization to grow faster without risking too much.

Why it is important to apply the concept of “Good Governance” to both government and corporate sectors.

            It is critical to apply the notion of "Good Governance" to government in order to win the trust of the people you serve. And if the government understands how to manage the entire nation effectively, it will reduce difficulties or issues since the government is already doing something to mitigate the potential impact of the problem on the entire nation. Furthermore, if the government employs the notion of good governance, it will be easier for them to create a system or method for establishing a link between the people of the nation and the government itself.

            The relevance of implementing the idea of "Good Governance" in the corporate sector is as follows: good governance will assist you in knowing how to control the entire firm you are in. Good governance will assist the firm in maintaining and improving its performance at the end of the day. If you know how to run a business, you will be able to take advantage of new opportunities that will help your company remain stable and productive. Learning the correct approach to governing an organization would allow not just the organization but also the individuals within it to develop quicker without putting too much at risk. A solid governance system will undoubtedly aid your company's long-term operations. It will also assist the firm in securing all of the funding because, if you manage your business properly, you will create a formal report that will demonstrate all of the procedures that the investors need to know. Because investors want to invest in a firm that is credible, has a clear goal, and is well-managed.

State and describe (each) the eight (8) major characteristics of good governance and correlate them to the following decisions:

            Expectations

            Power

            Performance

            Management

            Leadership

            Good Governance is composed of 8 major characteristics that help the organization to minimize corruption, minorities' perspectives are considered, and the voices of society's most disadvantaged are heard in decision-making. It is also sensitive to society's current and future demands. The first characteristic is participation. It shows that in making a decision, gender is not an issue. Men or women have the power to mandate a decision as long as all the ideas coming from the members of the institution are heard and considered. Because in participation, everyone needs to be informed to become more organized. The next characteristic is the Rule of Law. In Good Governance, all the things to be decided must be legal and fair to everybody. It will ensure the protection of all human rights, especially those minorities who are not capable of protecting themselves.

            Transparency is the third characteristic of Good Governance. All the information about the decision to be made must be clearly written and accessible to everybody, not just the members of the government. The decisions must be under the rules and regulations of the nation or the company. Use a form of media that will reach even the people that are left in the mountains. The next characteristic is responsiveness. When you govern an institution, you must know how to properly serve the people within a reasonable timeline. The fifth one is Consensus Oriented Good governance necessitates the mediation of many societal interests in order to establish a wide consensus on what is in the best interests of the entire community. It can only arise from knowledge of a society's or community's historical, cultural, and social circumstances. A long-term view on what is required for sustainable human development and how to accomplish it is required for good governance.

            The next one is Equity and Inclusiveness. In governing an institution, all the decisions you mandate must be fair to everybody. Provide an opportunity that will also benefit the most vulnerable people to help them maintain and improve their well-being. Next is Effective and Efficiency. Good governance entails procedures and organizations producing outcomes that fulfill the goals of society while making the greatest use of the resources available to them. The idea of efficiency in the context of good governance also includes the sustainable use of natural resources and environmental preservation. The last characteristic is accountability. According to the UN Secretary-General, accountability is a critical component of good government. According to him, the government, corporate sector, and civil society groups must be accountable to the public and their institutional stakeholders.

            The 8 characteristics of Good Governance will help the actors or the people governing the institutions to achieve the expectations of the people they serve. It will guide them to use their power to make fair and justified decisions. To maintain and improve performance while managing the institution. The best leadership is the leadership where they will hear and consider all the ideas and situations of the people they serve and open an opportunity to help the people of the institutions.