The term "governance" is a very versatile one. It is used in connection with several contemporary social sciences, especially economics and political science.
It originates from the need of economics (as regards corporate governance) and political science (as regards State governance) for an all-embracing concept capable of conveying diverse meanings not covered by the traditional term "government".
Referring to the exercise of power overall, the term "governance", in both corporate and State contexts, embraces action by executive bodies, assemblies (e.g. national parliaments) and judicial bodies (e.g. national courts and tribunals).
The term "governance" corresponds to the so-called post-modern form of economic and political organisations.
According to the political scientist Roderick Rhodes, the concept of governance is currently used in contemporary social sciences with at least six different meanings: the minimal State, corporate governance, new public management, good governance, social-cybernetic systems and self-organised networks 1.
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