The Importance of Governance

Topics: Government, Governance, Sovereign state Pages: 2 (565 words) Published: October 19, 2011
"GOVERNANCE is the exercise of political, economic and administrative authority to manage a nation's affairs. It is the complex mechanisms, processes and institutions, through which citizens and groups articulate their interests, exercise their legal rights and obligations, GOVERNANCE is "… the traditions and institutions by which authority in a country is exercised for the common good. This includes (i) the process by which those in authority are selected, monitored and replaced, (ii) the capacity of the government to effectively manage its resources and implement sound policies, and (iii) the respect of citizens and the state for the institutions that govern economic and social interactions among them. “(World Bank) “Three complementary possibilities work their way into this correlation. One possibility is that better governance exerts a powerful effect on income. A second possibility is that improvements in governance are the result of a higher income. Yet, a third possibility is that there are other factors that interplay to make countries richer and better governed. In cases where higher per capita incomes fail to result in better governance, one possible explanation is ‘state capture’, defined as the illicit influence of the elite in shaping the laws, policies and regulations of the state. The ‘capture’ of the institutions of the state by elites implies that they can benefit from the lack of good governance, and therefore are likely to resist demands for change”. Source Wikipedia. Governance is the act of governing. It relates to decisions that define expectations, grant power, or verify performance. It consists of either a separate process or part of management or leadership processes. These processes and systems are typically administered by a government. This will lead to change the system of least developed country and improve the government system. The government will be more transparent and can misuse the fund. All citizens get equal opportunities...

References: 1.
3. Managing Information System by James R.Mensching. Dennis A.Adams
4. The Management of Human Resources in the Asia Pacific Region By Chris Rowley & John Benson
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Importance of Corporate Governance for Smes
  • Importance Of Good Governance Essay
  • The Importance of Corporate Governance in Organizations Research Paper
  • governance Essay
  • Governance Essay
  • Importance of Solid Corporate Governance Essay

Become a StudyMode Member

Sign Up - It's Free