I agree with the statement that governing a business is not much different from governing a state. With every good governance, there is the quality of sound leadership for the success and continuity of an organization. For instance, the success of a company is majorly based on the management by the board members. This is also applicable to the governance of a state, for a state to have stability it all begins with the role played by our political leaders and those in power. Rules, regulations and laws have to be put in place that aims at achieving the set objects in both institutions. The management board has to ensure that each member has a role to play to achieve the goals of either a state or a company.
Good governance comes hand in hand with credible accountability. Each department in a corporation has to account for each shilling spent. This is precisely what happens with the different sectors in the government. There should be transparency in each department. The board of directors plays a significant role of protecting the investors money and the government officials to ensure proper management of funds. For example, when a CEO was presented before Congress and questioned on how his company spent billions of taxpayers money, he exclaimed and responded that it was rather difficult to keep account for every shilling in the different units. Startled by his remarks and I was left wondering what the board of directors does. This is evident in the country in that, the government has full accountability to every amount spent in each sector.
Just like in a government, the company has to ensure that the opinions, the needs and the demands of the public are met. The public should be provided with a variety of services to choose from. This ranges from the branding of the services to the providers of these services. The government should take the responsibility of redesigning the services offered to the public to meet their needs. This also happens in companies where the corporation has to redesign the products produced for human consumption with the aim of making them more appealing to the public. By doing so, the consumption rates increase thereby increasing the taxes paid by the government. For example, the public expects the government to put into place good and affordable education system, good health services and to provide for public safety and good infrastructure to boost for a great economy of a country. The company also has to ensure commodities of good quality and quantities to avoid exploitation of its consumers.
It is not always about money but the need to satisfy human needs and wants that is the primary objective of a company so is it in the governing of a state. Government officials should not be greedy by embezzling funds meant for projects to its citizen. This is because it will lead to a regional imbalance when it comes to development. Employees both in the government and in a company do not have to be motivated by tokens in monetary terms to perform their duties. They have to appreciate and accept their functions by dedicating themselves and working efficiently. Appreciating what they do and earn will rather motivate them to work toward achieving the set goals rather than pleasing themselves by earning what they do not deserve. For example, government employees do not have to live up on taxpayers money; instead they should reveal proper utilization and conservation of these amounts to cater for the needs of its citizens. The company should also exercise good conservation of their investors money increasing the chances of more investments from interested organizations.
The government is structurally modified to perform its fundamental duties to its citizen and I believe that a company can adopt some of the measures put in place by the government to ensure smooth running of the business and efficiency in its operations.
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