Management vs. Governance – What’s the Difference?

Описание: ✅ What is Management?
Management is the process of planning, organizing, leading, and controlling resources (like people, money, time, and materials) to achieve specific goals efficiently and effectively.

🧠 In simple terms: Management is about doing things right — making sure daily operations run smoothly and objectives are met.

🔧 Key Functions of Management:
Planning – setting goals and deciding how to achieve them.

Organizing – arranging tasks, people, and resources.

Leading – motivating and guiding employees.

Controlling – monitoring performance and making corrections.

✅ What is Governance?
Governance is the framework of rules, policies, systems, and practices that guide how an organization is directed, controlled, and held accountable.

🧠 In simple terms: Governance is about doing the right things — setting the direction, ensuring accountability, and protecting stakeholder interests.

🔒 Key Elements of Governance:
Defining mission and values

Setting strategic direction

Oversight of management and risks

Ensuring compliance and ethical behavior

Stakeholder engagement