Question

Consider how good governance can benefit you. Write a
short paragraph about what you look for in a government
and the benefits you get from it.

Answer 1

Explanation:

Good governance is at the heart of any successful business. It is essential for a company or organisation to achieve its objectives and drive improvement, as well as maintain legal and ethical standing in the eyes of shareholders, regulators and the wider community. Governance is not simply a concern for large companies, but for any business or organisation of any shape or size.

Governance is especially important in the public sector because you’re dealing with the public’s money, according to Adjunct Professor Nigel Phair GAICD, the director of the Centre for Internet Safety at the University of Canberra who is speaking at the AICD’s upcoming Public Sector Forum at the War Memorial on 11 August, echoes this sentiment.

“I like a conservative government—not conservative politics, but conservative government,” says Phair. “When they’re entrusted with the public purse, I like i’s dotted and t’s crossed, and that includes governance. A government board, to my mind, should be like any board, whether it’s a not-for-profit board or an ASX 100 board or anything in between, it should have a diversity of skills and a diversity of talent,” says Phair.

At the second annual AICD Australian Governance Summit held in March, Leilani Frew MAICD, a former director of Sydney Motorway Corp, described government boards as a hybrid in terms of not-for-profit and corporate conglomerates. “Community at heart but commercial discipline in my head, that’s the approach you have to take,” said Frew, who stressed the importance of strong engagement with the community that the business or organisation serves.