Governance

Although the term governance is often used synonymously with the term government it tends rather to be used to describe the processes and systems by which a government or governor operate. The term government and governor describe the institutions and people involved.

It is often used by corporate organisations to describe the mechanisms by which they are governed.

A fair governance implies that those mechanisms are organized in a way allowing that the rights and interests of the stakeholders (the "principals") are respected by the executives (the "agents"), in a spirit of democracy.

See also

Democracy, Government, Corporate governance, Principal-agent problem, unsolved problems in governance

External link

http://www.encycogov.com The Encyclopaedia about Corporate Governance