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.
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
3
Q
What are the seven characteristics of Effective Governance?
A
Networks Relationships Governance Histories Cultural Geographies Leadership Decision-making Authority Mutual Accountability
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
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
