Abstract

Governance refers to the processes and structure used to direct and manage an organisation’s operations and
activities. It defines the division of power and establishes
the mechanisms to achieve accountability between owners, managers and stakeholders, and the entity that is the organisation.
Governance helps the organisation focus on the activities which contribute most to its overall objectives and to utilise its resources effectively and ensure they are
managed in the best interests of its principal stakeholders.
This paper examines the evolution of governance, together with some of the issues associated with the practice of governance and stakeholder management. The paper also explores some of the key themes associated with ethics within the governance model.