What are the important aspects of governance? What are the stakeholders of governance? Read further to know more.
Governance is commonly defined as political leaders exercising power or authority for the benefit of their country’s citizens or subjects.
It is the complex process by which certain sectors of society wield power and enact and promulgate public policies that have a direct impact on human and institutional interactions, as well as economic and social development.
The proper and effective use of resources is central to governance.
Important aspects of Governance
Governance refers to the processes and systems by which a society, organization, or group is managed and controlled. There are many important aspects of governance, including:
- Participation: According to researchers, participation is an important factor for both males and females in good governance. Participation could be direct or via legitimate intermediary institutions or representatives. It can be established that representative democracy does not always imply that the concerns of the most vulnerable members of society are taken into account in decision-making. Participation must be well-informed and well-organized.
- Rule of law: Good governance necessitates neutrally prescribed impartial legal structures. It also necessitates the full protection of human rights, particularly those of minorities. Impartial law enforcement necessitates an independent judiciary as well as an impartial and incorruptible police force. The rule of law is defined as the institutional process of creating, interpreting, and enforcing laws and other regulations. It means that government decisions must be based on the rule of law and that private businesses and individuals are protected from arbitrary decisions. Governance that is reliable is free of distortionary incentives such as corruption, favouritism, patronage, or capture by narrow private interest groups; it guarantees property and personal rights; and it achieves some level of social stability.
- Responsiveness: Institutions and processes must strive to serve all stakeholders within a reasonable timeframe.
- Consensus-oriented: Good governance necessitates the intervention of various interest groups in the culture in order to reach a broad agreement in a society for the benefit of the entire community and the manner in which it can be accomplished.
- Equity and inclusiveness: The well-being of a society is dependent on ensuring that all of its members believe they have a stake in it and do not feel excluded from the society’s mainstream. This necessitates providing opportunities for all groups, particularly the most vulnerable, to improve or maintain their well-being.
- Efficiency: Governance should be efficient and effective, with processes and systems that are streamlined and optimized to achieve desired outcomes.
Stakeholders of Governance
- Typically, the stakeholders of governance at the national level can be categorised into three broad categories – State, Market and Civil Society.
- The State consists of the various government organs (Legislature, Judiciary, and Executive) and their instrumentalities, as well as independent accountability mechanisms. It also includes various segments of actors (elected representatives, political executives, bureaucracy/civil servants at various levels, and so on).
- The market includes both the organised and unorganised private sectors, which include businesses ranging from large corporate houses to small-scale industries/ establishments.
- Civil Society is the most diverse and typically includes all groups not included in (1) or (2). It includes Non-Governmental Organizations (NGOs), Voluntary Organizations (VOs), media organisations/ associations, trade unions, religious groups, pressure groups
According to UNESCAP, good governance means processes and institutions that produce results which meet the needs of society while making the best use of resources at their disposal. Read here more.
A basic definition of corporate governance, which has been widely recognized, was given in a report by the committee under the chairmanship of Sir Adrian Cadbury tiled (the Cadbury Report): This definition of corporate governance has been endorsed in various other discourses on the subject, including the 1998 final report of the Committee on The Financial Aspects of Corporate Governance. Read here more.
Probity is defined as complete and confirmed integrity having strong moral principles. It is strict adherence to a code of ethics based on undeviating honesty. Never resorting to illicit practices or cheating during an exam can be good examples of probity. Read here more
Transparency and accountability
This is critical for ensuring good governance in the public sector. Transparency is unquestionably required for accountability. This is inextricably linked and mutually beneficial. Read here more.
Every citizen of the country is concerned about the efficient operation of government. Citizens are willing to pay a premium for good government services, but what is required is a transparent, accountable, and understandable governance system free of bias and prejudice.
To restore good governance in the country, we need to reformulate our national strategy so that the Gandhian principle of “Antyodaya” takes precedence. India should also focus on developing governance probity, which will make governance more ethical.
The government should keep working on the ideals of Sabka Saath, Sabka Vikas, and Sabka Vishwas in order to achieve inclusive and sustainable development.
Article written by: Remya
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