Good Governance and Code of Ethics

• Governance describes the overall management approach through which senior executives direct and control the entire organization, using a combination of management information and hierarchical management control.
• Governance activities ensure that critical management information reaching the executive team is sufficient, complete, accurate and timely to enable appropriate management decision making, and provide the control mechanism to ensure that strategies, directions, and instructions from management are carried out systematically and effectively.
• Good governance is an ideal concept which is difficult to achieve in its totality. Governance typically involves goodhearted people who bring their ideas, experience, preferences and other human strengths and shortcomings to the policy-making table.
• Good governance is achieved through continues discussion so that all of the considerations involved in assuring that stakeholders’ interest are addressed and reflected in policy initiatives.
• The concept of “governance” is an ancient as government itself. Both governance and government came from the French word “gouvernance” which means the act or manner of government.
• The government word later in the mid-16th century meant “system by which something is governed”. In the 18th century after, it came to develop the meaning as a “governing authority.”
• True or False: Good Governance is the efficient, transparent and equitable delivery of goods and services as well as the policymaking by means of exercising authority of people.

  
  

  True
• True or False: Good Governance is a normative principle that offers well-managed and well-allocated resources to provide the needs to the collective problems of people.

  
  

  True
• True or False: It is required of a democratic platform to avoid corruption, offers rights, the ways and the capability to create decisions that lives every individual and make every organization accountable for what they had decided to do.

  True
• True or False: as a principle denotes an approach in administration that could be applied in internal operations of both public and private sector organizations. Good governance is a receptive to the present and future needs of the organization.

  True
• True or False: Here, the decision-making strategies of the organizations incorporate the principle of good governance so that shareholders’ and stakeholders’ interests are accounted and assured.

  True
• True or False: In a large enterprise, the management board will likely have a team who are charged with ensuring the firm adheres to the principles of good corporate governance as is expected of a large organization.

  True
• True or False: Small businesses must also ensure they have good governance in place. This can be achieved by having a trusted advisor, like a business coach or an accountant, or having some form of administrative support.

  True
• Encourages good decision making. Good decision-making has a great impact on your employees’ morale on how they view your organization.
• Helps manage risk. Good corporate governance practices ensure the business stays on top of statutory reporting, annual returns, renewing insurance or licenses, etc.
• Encourages management to seek advice. Bringing in external expertise to aid strategic decisionmaking can add significant benefits to the firm.
• Rule of Law is the protection of human rights and civil liberties particularly those of minorities by the independent, unbiased and principled law enforcement agencies. It is exemplified by autonomous judiciary access to justice, incorruptible police force and tested dispute mechanisms among others.
• Transparency good governance requires transparency of the decision-making process to make certain that information is easily and freely obtainable to those who will be affected by such decisions as well as the outcomes resulting by the decisions taken
• Transparency means making sure everyone is aware of what is going on throughout the organization at all times. Applying transparency in the workplace offers a lot of advantages including speedy problem solving, healthy employer-employee relations, enhanced teamwork and trust leading to better productivity.
• Responsiveness simply means that organizations and their processes need to be planned in a manner that serves the best interest of all stakeholders within a practical and realistic period of time.
• Value is any information that a company can offer that allows its buyer in moving closer to making a decision. questions

  data

  insights

  research

  context

  case studies
• Responsiveness is very critical in the workplace and the lack of it may cost real money.
• Speed - is the time it takes to give the demanded information to a customer.
• A delayed response may leave valuable resources idled without direction on how to move forward.
• Consensus Oriented – Good governance requires knowing the broad consensus about the best interest of the entire stakeholder group and how this can be achieved in a practical way.
• Consensus means seeking the many different needs, perspectives, and expectations of a diverse of people.
• The consensus process necessitates commitment and patience, but the resulting decisions are better, more effective and in the long term, more time efficient.
• A consensus decision depends on the assumption that every individual’s input is valuable and significant to the decision-making process.
• Equity and Inclusiveness – are based on the idea that all members of an organization or society must feel the sense of belongingness and must not have the impression of being excluded from the typical group.
• Inclusivity means individuals are expected to be treated with respect, dignity, collegiality and kindness.
• Effectiveness and Efficiency – are vital in good governance. It is developed by making sustainable use of resources to create advantageous results to meet the needs of its stakeholders.
• Sustainability - means guaranteeing social investments are carried through and protecting natural environment, human and ecological health for futures generations while driving innovation and not compromising people’s way of life.
• A very good example of effectiveness and efficiency is the trend of automation. Automation is the shift from manual paper processes to software solutions.
• Accountability – is a key requisite of good governance. Institutions such as government agencies, civil society, and the private sector ought to be accountable to one another as well as to the public and to their institutional stakeholders.
• Accountability also extends to the applicable rules of law that could be violated in the implementation of the decisions or actions. Accountability cannot be enforced without transparency too.
• Participation – participation in good governance requires equal participation by all groups with everyone having a role in the process of decision-making, either directly or through legitimate representatives
• Ethics is about directing human conduct using the standards of right and wrong that tells people what must be done based on rights, obligations, benefits to the society, fairness, or specific virtues
• Values are an individual’s judgement or standard of behavior. They are another individual factor that affects ethnical behavior.
• Morals are another individual characteristic that can affect an individual’s ethics. Morals are the rules of people develop as a result of cultural norms and values and are, traditionally, what employees learned from their childhood, culture, education, religion, and others. They are usually described as good and bad behavior.
• Corporate governance is concerned with holding the balance between economic goals and between individual and communal goals