Good governance is about good oversight. Governance is a word that can seem big and intimidating as well as bureaucratic. It doesn’t need to be. In its simplest form it is about providing some pragmatic checks and balances. It is about trying to ensure that good decisions are made through some deliberate and considered thinking. Given how expensive bad decisions can be putting some oversight in place to prevent that seems a small price to pay.
Additionally, the board is really the last check in the governance in a chain. Effective organizations will build steps, of an appropriate size, into all levels.
One way to think about this is as a “Governance fabric”. Different levels of the organizational are charged with answering the different questions necessary to ensure that the business strategy is successfully executed. The following diagram represents this.