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The first documented use of the word "corporate governance" is by Richard Eells (1960, p. 108) to denote "the structure and functioning of the corporate polity". The "corporate government" concept itself is older and was already used in finance textbooks at the beginning of the 20th century (Becht, Bolton, Röell 2004).
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Policy Governance, informally known as the Carver model, is a system for organizational governance. Policy Governance defines and guides appropriate relationships between an organization's owners, board of directors , and chief executive .
Governance structure is often used interchangeably with governance framework as they both refer to the structure of the governance of the organization. [2] Governance frameworks structure and delineate power and the governing or management roles in an organization. [1] They also set rules, procedures, and other informational guidelines. [3]
Rule by the wise; a system of governance in which decision making is in the hands of philosophers (as advocated by Plato) Plutocracy: Rule by the wealthy; a system wherein governance is indebted to, dependent upon or heavily influenced by the desires of the rich. Plutocratic influence can alter any form of government.
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Sociocracy is a theory of governance that seeks to create psychologically safe environments and productive organizations. It draws on the use of consent, rather than majority voting, in discussion and decision-making by people who have a shared goal or work process.
"Corporate governance" may be defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions that appear purpose-specific.