Governance
Governance
Governance
System of decision rights, policies, controls, responsibilities and oversight used to direct and control operations.
Examples
- 01Strong governance in the plant means every investment above EUR 50,000 needs a business case and approval by the management board.
- 02The governance review checks whether approval rules are current, followed and actually prevent bad decisions.
- 03When the board raises the approval limit for plant managers to EUR 100,000, the governance change is documented and communicated before it applies.