governance-standards

Vocabulary Word

Definition

'Governance standards' are the rules or principles that guide how a company should be run. These standards ensure that the company operates responsibly, ethically, and legally.

Examples in Different Contexts

In environmental governance, 'governance standards' are the benchmarks and guidelines for managing and protecting the environment sustainably. An environmental policy maker might explain, 'Following governance standards such as the Global Reporting Initiative (GRI) ensures that our environmental practices meet global expectations for sustainability.'

Practice Scenarios

Public-Policy

Scenario:

The new policy has met with some criticism. It's crucial that we retain the trust and faith of the public.

Response:

We must ensure our policies align with the governance standards for transparency and responsiveness to retain the public's trust.

Business

Scenario:

We've got to be careful that our expansion plans don't compromise our commitment to corporate responsibility.

Response:

I agree, our expansion should align with the governance standards we've set around corporate responsibility.