Governance vs. Management

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Time
3 hours 43 minutes
Difficulty
Intermediate
CEU/CPE
4
Video Transcription
00:00
next let's talk about governance versus management.
00:05
So in this video we'll talk about the difference between governance and management, the different domains of governance and the different domains of management.
00:16
So let's talk about the difference,
00:19
and we're going to talk about the difference between governance and management as defined by Kobe.
00:25
Governance refers to a more high level form of management.
00:29
Governance is a way in which to set the direction the enterprise should go in.
00:34
An example of a direction would be to focus business efforts to a more customer oriented platform. If you're, say, an e commerce company that relies on social engagement,
00:44
direction and strategic efforts can be determined through prioritizing efforts, business objectives and processes.
00:52
If using innovative technology is the priority, thin business efforts need to be focused on adopting, implementing and training users on new technology.
01:02
Furthermore, decision making is another way in which governing bodies consent the direction and strategy for an enterprise.
01:08
Decision making can be anything from removing outdated technology toe hiring a new I team team to manage the new adoption and implementation of new technologies for the e commerce company.
01:22
The board of directors is a great example of those responsible and accountable for governance.
01:26
They're usually the decision makers that set the strategy and direction, and enterprise should go in.
01:34
This group of people can also be in charge of prioritizing efforts that will trickle down to executive management I t managers and different departments that fall within the governance. I t. Governance. Umbrella
01:49
management is a little different than governance, but they are related.
01:53
Management is a term we use when referring to planning, building, running, implementing and monitoring activities that are set by the governance.
02:04
Remember how, he said the governing body will perform governance acts by setting the direction, prioritization and decisions?
02:12
Well, management is the execution of that vision.
02:15
It is up to the executives, managers and those with the authority to plan, build, implement, run and monitored the activities that was dictated during the governance stage.
02:28
After the governance is done by the board of directors.
02:31
Usually the CEO will be the force that plans, runs bills and monitors theater tive it ease that the governing body set and prioritized.
02:40
It's important that these two are made distinct and cope it because when it comes to the five domains which will be talking about later. In this course, there are distinctions.
02:51
One domains. One domain falls under the governance umbrella, while the remaining for are the jurisdiction of the management component.
03:00
Take a moment to think about how this relates to your organization.
03:04
If you don't have AH board of directors or a clear hierarchy, try to imagine who would be in charge of governance objectives and who would be in charge of management objectives.
03:14
If you do have clear hierarchies, who would be your governing body that sets direction and who would be the management toe align processes to be in alignment set by the governance team.
03:30
So it's important that management and governance are made distinct in co bit because when it comes to the five domains,
03:37
there are distinctions.
03:38
One domain, which is the D M. Falls under the governance umbrella, while the remaining for are the jurisdiction of management.
03:47
For a quick overview, evaluate, direct and monitor falls under governance, the governance jurisdiction while a land a line plan and organize or a p o, build a choir and implement or be a I
04:01
deliver service and support, or DSS
04:04
and monitor evaluate NSS or e a falls under the management umbrella.
04:15
So in this video we went over what is governance, what is management and the different domains of co bit and their correspondence with governance versus management objectives.
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