GOOD GOVERNANCE Good governance is about the processes for making and implementing decisions.

Its not about making correct decisions, but about the best possible process for making those decisions. Good decision-making processes, and therefore good governance, share several characteristics. All have a positive effect on various aspects of local government including consultation policies and practices, meeting procedures, service quality protocols, councilor and officer conduct, role clarification and good working relationships. THE MAIN CHARACTERISTICS OF GOOD GOVERNANCE Good governance is accountable Accountability is a fundamental requirement of good governance. Local government has an obligation to report, explain and be answerable for the consequences of decisions it has made on behalf of the community it represents. Good governance is transparent People should be able to follow and understand the decision-making process. This means that they will be able to clearly see how and why a decision was made what information, advice and consultation council considered, and which legislative requirements (when relevant) council followed. Good governance follows the rule of law This means that decisions are consistent with relevant legislation or common law and are within the powers of council. In the case of Victorian local government, relevant legislation includes the Local Government Act 1989 and other legislation such as the Public Health and Wellbeing Act 2008, and the Equal Opportunity Act 2010.

Good governance is responsive Local government should always try to serve the needs of the entire community while balancing competing interests in a timely, appropriate and responsive manner.

Good governance is equitable and inclusive A communitys well being results from all of its members feeling their interests have been considered by council in the decision-making process. This means that all groups, particularly the most vulnerable, should have opportunities to participate in the process. Good governance is effective and efficient Local government should implement decisions and follow processes that make the best use of the available people, resources and time to ensure the best possible results for their community. Good governance is participatory Anyone affected by or interested in a decision should have the opportunity to participate in the process for making that decision. This can happen in several ways community members may be provided with information, asked for their opinion, given the opportunity to make recommendations or, in some cases, be part of the actual decision-making process. Good Governance is Consensus oriented There are several actors and as many view points in a given society. Good governance requires mediation of the different interests in society to reach a broad consensus in society on what is in the best interest of the whole community and how this can be achieved. It also requires a broad and longterm perspective on what is needed for sustainable human development and how to achieve the goals of such development. This can only result from an understanding of the historical, cultural and social contexts of a given society or community.

CORPORATE GOVERNANCE The system of rules, practices and processes by which a company is directed and controlled. Corporate governance essentially involves balancing the interests of the many stakeholders in a company - these include its shareholders, management, customers, suppliers, financiers, government and the community. Since corporate governance also provides the framework for attaining a company's objectives, it encompasses practically

every sphere of management, from action plans and internal controls to performance measurement and corporate disclosure. Governance needs to consider all stakeholders, even those who may not be immediately apparent. Stakeholders will classically include: Owners of the enterprise Investors (who may or may not be the owners) Customers Clients (who may be different from the customers) Beneficiaries (who in healthcare organizations may be different from customers and clients) Those whose money the organization uses or is steward to, including creditors and bankers Regulators, who increasingly use governance systems to help support their work Staff The wider community. environment and

The main external stakeholder groups are shareholders, debt holders, trade creditors, suppliers, customers and communities affected by the corporation's activities. Internal stakeholders are the board of directors, executives, and other employees. Corporate Governance affects business Generally, corporate governance refers to the host of legal and non-legal principles and practices affecting control of publicly held business corporations. Most broadly, corporate governance affects not only who controls publicly traded corporations and for what purpose but also the allocation of risks and returns from the firms activities among the various participants in the firm, including stockholders and managers as well as creditors, employees, customers, and even communities. However, American corporate governance doctrine primarily describes the control rights and related responsibilities of three principal groups: 1. The firms shareholders, who provide capital and must approve major firm transactions, 2. The firms board of directors, who are elected by shareholders to oversee the management of the corporation, and

3. The firms senior executives who are responsible for the day to day operations of the corporation. Organizational Culture The values and behaviors that contribute to the and psychological environment of an organization. Shared Values Explicit or implicit fundamental beliefs, concepts, and principles that underlie the culture of an organization, and which guide decisions and behavior of its employees, management, and members. Common Mindset A fixed mental attitude or disposition that predetermines a person's responses to and interpretations of situations. Organizational values Are ideals and customs that govern the way you do what you do. They need not be written downindeed they are worthless unless livedbut articulating them helps remind everyone what they are, and helps communicate them to new employees. Vision An aspiration description of what an organization would like to achieve or accomplish in the mid-term or long-term future. It is intended to serves as a clear guide for choosing current and future courses of action. unique social

Mission A written declaration of an organization's core purpose and focus that normally remains unchanged over time. Properly crafted mission statements (1) serve as filters to separate what is important from what is not, (2) clearly state which markets will be served and how, and (3) communicate a sense of intended direction to the entire organization.

A mission is different from a vision in that the former is the cause and the latter is the effect; a mission is something to be accomplished whereas a vision is something to be pursued for that accomplishment. Declared Value Value of a shipment imported for resale, as declared by its owner or shipper. 1. Declared Value for Carriage Value of a shipment as declared by its shipper to serve as the basis for computing freight charges, and for limiting the carrier's liability for damage, loss, or delay. It usually reflects the cost price of the shipment, and is normally lower than the declared value for customs. 2. Declared Value for Customs Value of a shipment as declared by its shipper to serve as the basis for computation of duties and taxes. It usually reflects the selling or the replacement price of the shipment, and is equal to or higher than the declared value for carriage. Organizations Core Values Our organization is driven by core values that are God- conscious, essential, and enduring.

EXCELLENCE Our relentless pursuit of performance excellence manifested in relevant, effective, and quality products and services provided. COMMITMENT

The total resolve and involvement given in everything that we do. CUSTOMER-PRIORITY Our customer's satisfaction, trust, and confidence are of the highest priority.

INNOVATION Thinking out of the box, beyond traditional concepts and boundaries in the search for solutions. INTEGRITY

Honesty and morality in service that produces good governance, transparency, and accountability. TEAMWORK Cohesion in work and goals nurtured in an environment of mutual support, collaboration, communication, and open sharing of knowledge and skills.

Corporate Values of IBM 1. Dedication to every client's success 2. Innovation that matters, for our company and for the world 3. Trust and personal responsibility in all relationships