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Governance is the act of governing. It relates to decisions that define expectations, grant power, or verify performance. It consists of either a separate process or part of decision-making or leadership processes. In modern nation-states, these processes and systems are typically administered by a government.
When discussing governance in particular organisations, the quality of governance within the organisation is often compared to a standard of good governance.
In the case of a business or of a non-profit organization, governance relates to consistent management, cohesive policies, guidance, processes and decision-rights for a given area of responsibility. For example, managing at a corporate level might involve evolving policies on privacy, on internal investment, and on the use of data.
To distinguish the term governance from government: "governance" is what a "governing body" does. It might be a geo-political entity (nation-state), a corporate entity (business entity), a socio-political entity (chiefdom, tribe, family etc.), or any number of different kinds of governing bodies, but governance is the way rules are set and implemented.

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