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Comparative Analysis of Governance and Management
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Added on 2020-03-13
Comparative Analysis of Governance and Management
Added on 2020-03-13
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Running Head: ANALYSIS OF GOVERNANCE AND MANAGEMENTComparative Analysis of Governance and ManagementStudent’s NameInstitution Affiliation
GOVERNANCE AND MANAGEMENT 2IntroductionEvery society has an organization with pre-set goals and objectives that enable the society 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 and management in terms of definitions and roles.Definition of governance and ManagementThe word governance has got many definitions. Governance is the establishment of policies and monitoring how they are implemented in an organization by the members of the governing 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). The authority might constitute by Board of Directors. The Board of Directors structure the law coordinates them and hold every relevant accountability to the laws (Grindle, 2016). The word governance derives itself from the word government thus defined as a force that exercises power over an organization, business, country, or a state (Rose-Ackerman, 2016). Altogether, the broader meaning of governance, it entails all the activities in both public and private organizations aimed at achieving the long-term goal and maintain together the shareholders. In governance, it is always divided into three levels. These are the Board of Directors, Chief Executive Officer, and Departmental Managers.On the other hand, the word management has been given different meanings by different scholars. In economics, it is referrers to as a factor of production that directly affects the performance of a business (Hamel, 2016). As a factor of production, it is the core of every end
GOVERNANCE AND MANAGEMENT 3product in an organization. These factors include workforce, raw materials, and financial materials, all of which are put together by good management. Sociologist terms it as a group of persons. These all the individuals tasked with the success of the organization, while practitioners define it as a process (Matuso, 2016). Management has a starting point and the end point. In a broader meaning, it is the administration of an organization (Zilahy, 2016). Administration entails setting up activities and strategy of an organization and coordinating the of employee’s efforts to reach the specified goals through the application of skills. The whole process covers the 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 the organization. The governor establishes the vision and mission, policies and guidelines to an organization. The governor comes up with the long-term objectives (Akerman, 2012). While in management, the manager does the direction. It is where by the manager to as leads, actuate and motivate all subordinate staffs. The manager leads the subordinate staff into what they ought to do to achieve the goals. The primary task thus involves communication of information from the top hierarchy to bottom and across the organization.The governor is responsible for determining and implementing the company’s framework. The governor ensures that every shareholder is subject to the rule of law without partiality. It also demands full protection of all human rights. While the manager focuses on planning, it entails of outlining the course of action in both present and future. It helps in having all 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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