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governance

n.
US //ˈɡəvɝnəns// UK //ɡˈʌvənəns// gov·er·nance
  1. 1 the act of governing (n.)
    C1 Advanced Academic Formal

    the way that a city, country, or large organization is managed and controlled.

    the exercise of authority and control over a political or corporate entity. Uncountable in its abstract sense.

    Example

    The country needs better governance to help its economy grow.

    Example

    The international community called for improved governance and transparency to ensure that the aid reached the citizens who needed it most.
  2. 2 corporate/organizational systems (n.)
    C1 Advanced Academic Formal

    the rules and systems a company uses to make sure it is run fairly and legally.

    the framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in a company's relationship with its stakeholders.

    Example

    The bank changed its corporate governance rules after the financial crisis.

    Example

    Effective corporate governance requires a clear separation of powers between the chief executive and the board of directors to prevent conflicts of interest.
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  1. 3 the state of being governed (n.)
    C2 Proficiency Academic Formal

    the condition of being under the control or influence of a system of rules.

    the state or condition of being governed or regulated by a specific authority.

    Example

    The remote islands were under the governance of a distant colonial power.

    Example

    The transition from military rule to democratic governance proved to be a complex process that lasted over a decade.
Origin

From Middle English governaunce, from Old French gouvernance, governance, equivalent to govern + -ance.

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