Corporate Governance Terms

noun a process of voting, in writing and typically in secret

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• The election officials counted each ballot carefully to ensure accuracy.
• Make sure you fill out your ballot correctly before submitting it.
• I heard they found some fake ballots in the trash.
• In the court of public opinion, each social media post acts as a ballot for popularity.

adjective having the same rank, value, or importance

• In a well-functioning democracy, the three branches of government are considered coequal.
• They are coequal partners in this business venture.
• Me and my best friend are basically coequal in everything we do.
• The two rival companies are always trying to prove they are coequal in the market.

noun a group of people who are chosen to make rules, laws, or decisions about something

• The council convened to discuss the proposed budget for the upcoming fiscal year.
• I heard the council is meeting tonight to talk about the new park project.
• The council is gonna chat about the budget stuff later.
• In her mind, the council of doubt and fear always seemed to hold a meeting whenever she faced a new challenge.

noun a group of officials or executives in charge of a particular area of government or organization

• The directorate is responsible for making strategic decisions for the company.
• The directorate is in charge of calling the shots at the office.
• The directorate is the big boss around here.
• The directorate steers the ship of the organization towards success.

noun a person who is head of an organization or country in title only and has no real authority

• The king was merely a figurehead, with the real power lying in the hands of his advisors.
• The CEO is just a figurehead, the real decisions are made by the board of directors.
• She's just a figurehead in the company, doesn't really do much.
• The president was seen as a figurehead, a symbol of the nation rather than a true leader.

noun a word (other than a pronoun) used to identify any of a class of people, places, or things (common noun), or to name a particular one of these (proper noun)

adjective a word naming an attribute of a noun, such as sweet, red, or technical

preposition a word governing, and usually preceding, a noun or pronoun and expressing a relation to another word or element in the clause

• The company's decision to increase employee benefits is in line with industry standards.
• His choice of outfit is in line with the dress code for the party.
• I'm just trying to stay in line with what everyone else is doing.
• Her actions were in line with her values and beliefs.

verb to include or combine something as part of a whole

adjective combined into a single entity

• The new technology was fully incorporated into the existing system.
• We've incorporated some new features into the app.
• They really know how to incorporate style into their outfits.
• The artist incorporated elements of nature into her painting.

noun the position or role of being a manager

• Her managership of the company has resulted in significant growth and success.
• His managership skills are top-notch, everyone respects him in the office.
• She's got the managership game on lock, nobody can touch her.
• The managership of the project was like steering a ship through rough waters.

noun failure to act when there is a duty to do so

• The court found the defendant guilty of nonfeasance for failing to fulfill their legal obligations.
• He got in trouble for nonfeasance because he didn't do what he was supposed to.
• She's always getting away with nonfeasance, it's not fair.
• His nonfeasance in the project caused it to fail miserably.

verb to formally forbid by law, rule, or other authority

• The new law will prohibit smoking in all public places.
• My mom prohibits me from staying out past midnight.
• They have a strict 'no phones' policy at that restaurant, they basically prohibit any phone use.
• Fear should not prohibit you from pursuing your dreams.

noun a person who manages or looks after something, such as a steward on a plane or ship

verb to act as a steward, to manage or oversee something

• The steward on the plane ensured that all passengers were comfortable during the flight.
• The steward at the party made sure everyone had a drink in hand.
• The steward at the concert was handing out freebies to the fans.
• As a teacher, I see myself as a steward of knowledge, guiding my students towards success.

noun the quality or condition of being transparent; openness and honesty in behavior or actions

• The company prides itself on its commitment to transparency in all business dealings.
• I appreciate the transparency in how they handle their finances.
• I like how they keep it real with their transparency.
• The clear lake symbolized the transparency of her intentions.

noun the responsibilities or duties of a trustee

• The trusteeship of the organization was handed over to a new board of trustees.
• I heard that John got the trusteeship for the charity group.
• She's been holding onto the trusteeship for years, nobody else stands a chance.
• Taking on the trusteeship of the project felt like carrying the weight of the world on my shoulders.

noun GRC stands for Governance, Risk, and Compliance. It is a term used in business to refer to the processes and tools used by organizations to manage and mitigate risks, ensure compliance with regulations, and maintain effective governance.

adjective In some cases, GRC can be used as an adjective to describe something related to governance, risk, or compliance.

• The GRC is responsible for overseeing compliance within the organization.
• I heard the GRC team is cracking down on policy violations.
• The GRC folks are really strict about following the rules.
• The GRC acts as a gatekeeper to ensure everything runs smoothly.

noun Entity is a noun that refers to a thing with distinct and independent existence.

• Effective entity governance is crucial for ensuring compliance with regulations and achieving organizational goals.
• Entity governance involves setting rules and guidelines for how a company operates.
• You gotta have your entity governance game on point to avoid any trouble with the law.
• Just like a well-oiled machine, entity governance keeps everything running smoothly in a business.

noun a method of voting where voters can change their vote until the voting period ends

• The board members decided to implement carousel voting to ensure a fair and efficient decision-making process.
• Hey, have you heard about carousel voting? It's a new way for us to vote on important matters.
• Let's shake things up with some carousel voting at our next meeting!
• In politics, carousel voting can sometimes lead to unexpected outcomes.

adverb in a manner that is accountable or responsible

• It is important for public officials to act accountably in order to maintain trust with the citizens.
• Make sure you handle the situation accountably so there are no misunderstandings.
• Don't worry, I'll make sure to do it accountably.
• The artist painted the mural accountably, ensuring every detail was perfect.