governance
n. uncountablen. the way a country, city, or company is managed and controlled. You use this word to talk about the rules and systems that keep an organization running properly.
n. the system, processes, or manner by which a state or organisation is directed and controlled. It encompasses the mechanisms through which authority is exercised and decisions are implemented.
The company needs better governance to prevent future financial mistakes.
The new committee was formed to improve corporate governance and ensure that executives are held accountable to shareholders.
Effective global governance requires international institutions to balance the competing interests of sovereign states while addressing transnational challenges like climate change and economic instability.
From Middle English governaunce, from Old French gouvernance, governance, equivalent to govern + -ance.
Frequently modified by adjectives specifying the domain, such as 'corporate', 'global', or 'local'.