Major characteristics of good governance

Effective Risk Management Even if your company implements smart policies, competitors might steal your customers, unexpected disasters might cripple your operations and economy fluctuations might erode the buying capabilities of your target market. Unsourced material may be challenged and removed.

This accountability differs depending on the organization and whether the decision is internal or external to an organization. According to former UN Secretary-General Kofi Annan"Good governance is ensuring respect for human rights and the rule of law; strengthening democracy; promoting transparency and capacity in public administration.

Self-evaluation to mitigate budding issues It is next to impossible to avoid mistakes no matter how smartly an organisation is managed. However, a literature review analyzing the link between democracy and development by Alina Rocha Menocal of the Overseas Development Institute stresses the inconclusiveness of evidence on this relationship.

Transparency is also important to the public, who tend not to trust secretive corporations. This allows the reader to be able to see what contemporary governance is like from different viewpoints.

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. They have been studying countries since Take, for example, a boutique hotel, whose management needs to establish a clear strategy in order to make it a success.

After the National Research Act there have been other organization put in place such as the Ethics Advisory Board, which reviews biomedical research. Responsible management would, when necessary, put in place what it would take to set the company on the right path. Good corporate governance requires having the discipline and commitment to implement policies, resolutions and strategies.

Consumers always expect their providers to be exemplary and a good member of the community. Consumers like businesses which give something back to society. Good corporate governance advocates that regular self-evaluations and identification of developing issues within the corporation can help avoid disasters.

In other words, scholars have been intrigued by the relationship between good governance and economic or political development.

Seven Characteristics of Good Corporate Governance

These dimensions are how the government is elected and oversighted, the accountability power of citizens, the credibility in the government, the respect for institutions, both from government and citizens, and the effective delivery of public goods.

Participation Participation by both men and women, either directly or through legitimate representatives, is a key cornerstone of good governance.

Good governance is effective and efficient Local government should implement decisions and follow processes that make the best use of the available people, resources and time to ensure the best possible results for their community.

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


Being fair to customers is mandatory for a business to function ethically and to build a strong customer reputation.

Such broad participation is built on freedom of association and speech, as well as capacities to participate constructively. The management must recognise the heavy workload shouldered by an employee and its long-term negative impact.Good decision-making processes, and therefore good governance, share several characteristics.

All have a positive effect on various aspects of local government including consultation policies and practices, meeting procedures, service quality protocols, councilor and officer conduct, role clarification and good working relationships. What is good governance: main aspects and characteristics Roman Mogilevsky Center for Social and Economic Research CASE-Kyrgyzstan Presentation at the Roundtable VIII of the Fostering Global Responsibility Project.

Major characteristics of good governance * Participatory * Leadership * Follows the rule of law * Effective and efficient * Equitable and inclusive * Responsive * Transparency * Accountability * Consensus oriented * Honesty and integrity * Objectivity Hindrances to good governance * Distance.

Communication is very important to maintain peace. Characteristics of Good Governance Participation All men and women should have a voice in decision-making, either directly or through legitimate intermediate institutions that represent their interests.

Feb 29,  · Good governance is accountable Accountability is a fundamental requirement of good governance.

Characteristics of Good Governance – S K Patodia

Local government has an obligation to report, explain and be answerable for the consequences of decisions it has made on behalf of the community it represents. Seven Characteristics of Corporate Governance Submitted by Kamal Wickramanayake on March 6, - Though the origin could not be located correctly, the characteristics below seem to have appeared in CLSA Emerging Markets and gained more popularity after their appearance in what is known as the King Report on Corporate Governance.

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Major characteristics of good governance
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