Governance is defined as the establishment of policies, and continuous monitoring of their proper implementation, by the members of the governing body of an organization. It includes the mechanisms required to balance the powers of the members (with the associated accountability), and their primary duty of enhancing the prosperity and viability of the organization.
Most companies labor under the belief that establishment of policies is sufficient to meet the objectives. This is not the case… continuous monitoring of their proper implementation (Control) is critical to the long term success of any management system serving as governance.
Governance and Control is like “Soup & Sandwich”; nothing goes together better