What is “governance”?

There is no one conclusive definition of organisation governance. What is conclusive however is that effective governance is essential, today more than ever. The following definition provides sound insight into the broad nature of governance.

The Governance Institute of Australia defines governance as: “the system by which an organisation is controlled and operates, and the mechanisms by which it, and its people, are held to account. Ethics, risk management, compliance and administration are all elements of governance.”

Why is governance so important? 

  • Governance directly drives higher performance and sustainable profitability
  • Recent governance disasters have resulted in significant financial losses. This includes weak oversight, lack of clarity, data breaches, poor culture and shareholder class actions
  • Many directors and leaders fail to see what is really going on at an operational level. This means that unexpected mistakes and losses are a total surprise and go unmanaged
  • Governance is a force for good in all types of businesses

Benefits of Governance Intelligence® Diagnostics

Governance Intelligence Diagnostics are online benchmarking tools that enable you to gain clear insights into your operations. This can be used by the board and/or leadership team to improve decision making and performance.

Our diagnostics are used by commercial, not for profit and government organisations and associations. The diagnostics go beyond a simple survey by determining gaps, priorities, risks and opportunities to improve profitability, sustainability and competitive performance.

This helps your leadership team know where to focus their efforts, engage with staff, track successes, identify opportunities, benchmark progress and achieve improvements.

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The recommended approach is to begin with a Whole of Organisation Governance Diagnostic as this gives an all encompassing clear view of current state and prime focus areas.

For functional areas requiring immediate attention, our Pulse Diagnostics may be right for you! These are narrower in scope for specific needs.