Principles and characteristics of good governance

Who is accountable for what should be documented in policy statements. References 2 "Corporate Governance and Accountability"; Jill Solomon About the Author Stan Mack is a business writer specializing in finance, business ethics and human resources.

Good governance in international affairs IR [ edit ] In international affairs, analysis of good governance can look at any of the following relationships: For example, minority share owner interests must receive equal consideration to those of the dominant share owner s. For example, minority share owner interests must receive equal consideration to those of the dominant share owner s.

Consumers expect companies to be good community members, for example, by initiating recycling efforts and reducing waste and pollution. Such broad participation is built on freedom of association and speech, as well as capacities to participate constructively.

Transparency Transparency is built on the free flow of information. The decisions made, and internal processes established, should be objective and not allow for undue influences. We believe that delivering on roads and on electricity and on education and all the other points of that agenda will demonstrate the kind of concrete progress that the people of Nigeria are waiting for.

Accountability Decision-makers in government and civil society organizations are accountable to the public, as well as to the institutional stakeholders. Directors need to commit the time, energy and expertise to ensure a positive future for the organization.

For example, the leaders of a company should design and adhere to a code of ethics that helps management promote each of the important characteristics of good corporate governance. Central to the five governance principles is the expectation that Directors will model the highest standards of ethical behaviour, acting honestly and in good faith, and in the best interests of their organization.

These self-governing local bodies are the third tier of governance in the country. The rights of various groups have to be acknowledged and respected. The Board should be conscious of the standards to which it operates, and its role in exercising appropriate and effective control over the organization.

Participation All men and women should have a voice in decision-making, either directly or through legitimate intermediate institutions that represent their interests.

Rule of Law Good governance requires fair legal frameworks that are enforced by an impartial regulatory body, for the full protection of stakeholders. Participation Participation by both men and women, either directly or through legitimate representatives, is a key cornerstone of good governance.

Many reforms are undergoing to realign and build the capacity of Institutional Setup to ensure good governance. Consensus Oriented Good governance requires consultation to understand the different interests of stakeholders in order to reach a broad consensus of what is in the best interest of the entire stakeholder group and how this can be achieved in a sustainable and prudent manner.

This is a measure of how good management is at making necessary information available in a candid, accurate and timely manner — not only the audit data but also general reports and press releases.

Strategic vision Leaders and the public have a broad and long-term perspective on good governance and human development, along with a sense of what is needed for such development. Social Responsibility Social responsibility at the corporate level is increasingly a topic of concern.

Whistleblowing has also been widely used by corporations to expose corruption and fraudulent activity. Consensus orientation Good governance mediates differing interests to reach a broad consensus on what is in the best interests of the group and.

A good corporate citizen is increasingly seen as one that is non-discriminatory, non-exploitative, and responsible with regard to environmental and human rights issues. These provide investors with the means to query and assess the actions of the board and its committees. Good governance is when the management of resources and affairs are done in a manner that it can be called transparent, open, answerable, fair and quick in responding to the needs and problems of common people.

The features of Good Governance are: The feature of accountablity. This feature is the fundamental requirement of good governance. Principles for Good Governance in the 21st Century 1 Policy Brief No. 15 - Institute On Governance, Ottawa, Canada • What are the characteristics of good governance?

• Are there universal principles of good governance?

WHAT ARE THE MAIN CHARACTERISTICS OF GOOD GOVERNANCE?

If so, what are they? • Where do these principles come from? The characteristics of good governance Good governance has 8 major characteristics.

WHAT ARE THE MAIN CHARACTERISTICS OF GOOD GOVERNANCE?

It is participatory, consensus oriented, accountable, transparent, responsive, effective and efficient, equitable and inclusive and follows the rule of law. Good governance mediates differing interests to reach a broad consensus on what is in the best interests of the group and where possible, on policies and procedures.

Equity All men and women have opportunities to improve or maintain their well-being. In corporate affairs, good governance can be observed in any of the following relationships: between governance and corporate management; between governance and employee standards; between governance and corruption in the workplace; The meaning of good governance in regards to corporate sectors varies between actors.

The characteristics of good governance Good governance has 8 major characteristics. It is participatory, consensus oriented, accountable, transparent, responsive, effective and efficient, equitable and inclusive and follows the rule of law.

Principles and characteristics of good governance
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Characteristics of Good Governance - 9 Features of Good Governance