Week 5 - Corporate Governance Flashcards

1
Q

What is Governance?

A

The system of rules, practices and processes by which a company is directed or controlled.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

An effective governance framework would have appropriate regard to what?

A

Contribution of individual directors
Effectiveness of the board and board performance
Way in which governance is applied throughout the organisation
Strength of the relationships the organisation fosters with its stakeholders

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the seven characteristics of Effective Governance?

A
Networks
Relationships
Governance Histories
Cultural Geographies
Leadership
Decision-making Authority
Mutual Accountability
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is the difference between policy and procedure?

A

Policies are a deliberate system of PRINCIPLES or a statement of intent - how and what you intend to do - that guide procedures, which are the ACTIONS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are some characteristics of Good Governance?

A
Accountable
Transparent
Responsive
Equitable and Inclusive
Effective and Efficient
Follows the rules of law
Participatory
Consensus oriented
How well did you know this?
1
Not at all
2
3
4
5
Perfectly