Comparative Analysis of Governance and Management

Added on - Mar 2020

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Running Head: ANALYSIS OF GOVERNANCE AND MANAGEMENTComparative Analysis of Governance and ManagementStudent’s NameInstitution Affiliation
GOVERNANCE AND MANAGEMENT2IntroductionEvery society has an organization with pre-set goals and objectives that enable thesociety achieve its vision. These goals are achievable through the utilization of the resources.Cohesively, several activities are conducted either through governance or management.Therefore, this report establishes the differences and similarities between governance andmanagement in terms of definitions and roles.Definition of governance and ManagementThe word governance has got many definitions. Governance is the establishment ofpolicies and monitoring how they are implemented in an organization by the members of thegoverning body in the organization (Matanock, 2014). It also means the provision of policies andcontinuous follow-up of their implementations by the authority (Rose-Ackerman, 2016). Theauthority might constitute by Board of Directors. The Board of Directors structure the lawcoordinates them and hold every relevant accountability to the laws (Grindle, 2016). The wordgovernance derives itself from the word government thus defined as a force that exercises powerover an organization, business, country, or a state (Rose-Ackerman, 2016). Altogether, thebroader meaning of governance, it entails all the activities in both public and privateorganizations aimed at achieving the long-term goal and maintain together the shareholders. Ingovernance, it is always divided into three levels. These are the Board of Directors, ChiefExecutive Officer, and Departmental Managers.On the other hand,theword management has been given different meanings by differentscholars. In economics, it is referrers to as a factor of production that directly affects theperformance of a business (Hamel, 2016). As a factor of production, it is the core of every end
GOVERNANCE AND MANAGEMENT3product in an organization. These factors include workforce, raw materials, and financialmaterials, all of which are put together by good management. Sociologist terms it as a group ofpersons. These all the individuals tasked with the success of the organization, while practitionersdefine it as a process (Matuso, 2016). Management has a starting point and the end point. In abroader meaning, it is the administration of an organization (Zilahy, 2016). Administrationentails setting up activities and strategy of an organization and coordinating the of employee’sefforts to reach the specified goals through the application of skills. The whole process coversthe estimation, to the organization, planning, and coordination of all activities in an organization(Hubben, 201).In an organization, governance primarily focuses on the determining the objectives of theorganization. The governor establishes the vision and mission, policies and guidelines to anorganization. The governor comes up with the long-term objectives (Akerman, 2012). While inmanagement, the manager does the direction. It is where by the manager to as leads, actuate andmotivate all subordinate staffs. The manager leads the subordinate staff into what they ought todo to achieve the goals. The primary task thus involves communication of information from thetop hierarchy to bottom and across the organization.The governor is responsible for determining and implementing the company’sframework. The governor ensures that every shareholder is subject to the rule of law withoutpartiality. It also demands full protection of all human rights. While the manager focuses onplanning, it entails of outlining the course of action in both present and future. It helps in havingall activities to take place expectedly. It is always the first stage in every level of management(Rudiski, 2016). Good planning gives precise information on who should perform a specified
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