Governance Framework

A Governance Framework is a social framework that outline how decisions are made, responsibilities are allocated, and policies are implemented within an organization, community, or society.

• Context:
  • It can provide a blueprint for how governance should be conducted to ensure accountability, transparency, efficiency, and responsiveness to stakeholders.
  • It can include mechanisms for Stakeholder Engagement, ensuring that the voices of those affected by governance decisions are heard and considered.
  • It can (often) serve as the foundation for Risk Management and Compliance Management, helping organizations navigate legal and regulatory environments.
  • It can aim to foster Organizational Integrity and Ethical Conduct, promoting trust and confidence among stakeholders.
  • ...
• Example(s):
  • Private Governance Framework, such as a Corporate Governance
  • Public Governance Framework, such as a Social Governance Framework.
  • ISO 37001, providing guidelines for establishing, implementing, maintaining, and improving an anti-bribery management system.
  • The IT Governance Institute's COBIT (Control Objectives for Information and Related Technology) framework, which helps organizations manage IT governance and risks.
  • The Sarbanes-Oxley Act of 2002, enacted to protect investors from fraudulent financial reporting by corporations.
  • The United Nations' Sustainable Development Goals (SDGs), which include targets and indicators for national governments to achieve sustainable development.
  • ...
• Counter-Example(s):
  • an Informal Decision-Making Process.
• See: Corporate Governance, Public Sector Governance, Stakeholder Engagement, Risk Management, Compliance Management, Organizational Integrity, Ethical Conduct Sociology, Governance, Management.

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References

2024

• (Wikipedia, 2024) ⇒ https://en.wikipedia.org/wiki/Governance_framework Retrieved:2024-2-9.
  • Governance frameworks are the structure of a government and reflect the interrelated relationships, factors, and other influences upon the institution. Governance structure is often used interchangeably with governance framework as they both refer to the structure of the governance of the organization. Governance frameworks structure and delineate power and the governing or management roles in an organization. They also set rules, procedures, and other informational guidelines. In addition, governance frameworks define, guide, and provide for enforcement of these processes. These frameworks are shaped by the goals, strategic mandates, financial incentives, and established power structures and processes of the organization.

    Governance frameworks establish and perpetuate the efficiency or lack of efficiency in an organization or institution's ability to meet its goals, and even their public relations and perception. The organization of the governance framework is important for the success of the organization meeting its goals. Sociologist John Child states that these are connected and, in a circular manner, belief that changes in governance frameworks will succeed positively impacts the chance that the framework will result in the desired changes. Additionally, Williamson suggests that the organization of a governance framework results in economic consequences for that organization.

    Frequently, the term good governance framework references a preferred style of governance that the author believes to be better suited to that industry or organization, especially in relation to public relations, and organizational and financial transparency.

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