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ITT 415- Governance model and Decision-Making

Aug 26, 2023

Assessment Description

“This topic puts students in the mindset of an executive-level manager and allows them to gain an understanding of laws and how they affect decision-making.

In 500 words or more, describe what types of businesses benefit most from the implementation of each of the four models of governance. How does the implementation of these models define how decisions are made?

This assignment requires the use of at least two additional scholarly research sources published within the last 5 years. Include at least one in-text citation from each cited source.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center.

Governance Model and Decision-Making

Building the organization from the ground level is not as easy a task as it seems and sounds. After managing various things alone for some time, there come times when the organization requires proper personnel for advising, planning, directing, and a few pairs of hands for proper management. By this time, the organization seems to put together a team board of directors. However, all the board of directors will not work at an equal level stage, some are distant, some have their hands on the tasks, and some lie in between the processes. Meanwhile, the board of directors works toward boosting the effectiveness of the organization and its governance models (Baret et al 2013). Governance models are very complex and multi-faceted and if a part of the governance model gets changed, then it may directly affect other parts of the structure which includes both organizational individuals and teams that design the systems and makes them.

In an organization’s mission statement, values, and vision statement, the governance model plays a crucial element because, with the mission statement, the organization gets a direction and purpose towards its targets. As a result, the organization must share a common mission to lay down a strong foundation. There are four major types of governance models which include procedural governance, market governance, network governance, and corporate governance. However, one governance model or concept does not fit all businesses. The type of implementation of the governance model depends on the types of businesses. No matter which governance model, the organization is trying to implement, the process for all will be the same and includes beginning with the basics, prioritizing the business goals and objectives, designing the whole process, developing the communities, and communicating to start the campaign (Spok, 2019).

Procedural governance: When any organization tends to implement procedural governance, the core policies will be developed based on the ground rules of the organization, and accordingly all the organization’s actions will be taken. The ground rule of the organization acts as the control system. Procedural governance majorly focuses on the reliability of universal treatment. This type of governance model benefits those organizations that concentrate on the quality of the deliverables and not only on competition such as schools, NGOs, and more.

Corporate governance: This is the common governance type that integrates with the management of the organization and helps in the decision-making procedure. The core policies under this model are created on the managerial rationales for different situations. The organization control will be developed with the planning process. Under this governance model, all the organizations having client-based sales get the most benefit.

Market governance: To explain market governance, consider pharmaceutical companies such as Johnson & Johnson which deliver high-quality and effective medicines and other drugs to help patients fight various diseases. They try to grab the market and avoid competition as much as possible. These kinds of business houses need to follow and implement market governance. It simply means that those organizations are looking to grab the country’s specific market. In this governance model, the decisions are made with the policies which are developed based on various strategies.

Network governance: In this kind of governance, the core organizational policies are developed after evaluating the environment and all the direct and indirect entities associated with the organization. It means that the set of policies has a pure relationship with the market, distributor, supplier, and so on. Under network governance, all the brokerage agencies and rental services will enjoy the most benefits.

References

Baret, S., Sandford, N., Hid, E., Vazirani, J., & Hatfeld, S. (2013). Developing an effective governance operating model: A guide for financial services boards and management teams. by Deloitte Development LLC. Retrieved on 7th September 2022, from: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Financial-Services/dttl-fsi-US-FSI-Developinganeffectivegovernance-031913.pdf

Spok (2019). 5 Steps to Create a Governance Model to Become an IT Genius in Healthcare. Retrieved on 7th September 2022, from: https://www.spok.com/blog/5-steps-to-create-a-governance-model-to-become-an-it-genius-in-healthcare/

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