Question:

What is meant by good governance?

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A simple acronym to remember some key elements of good governance is {SMART}: {S}imple, {M}oral, {A}ccountable, {R}esponsive, and {T}ransparent.
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Solution and Explanation

Step 1: Key Concept:
Good governance refers to the process of decision-making and the process by which decisions are implemented (or not implemented) in a manner that is participatory, consensus-oriented, accountable, transparent, responsive, effective, efficient, equitable, and inclusive, and which follows the rule of law. It is about how public institutions conduct public affairs and manage public resources in the best interests of the people.
Step 2: Detailed Explanation:
According to the United Nations, good governance has eight major characteristics:
1. Participation: People should have a voice in decision-making, either directly or through legitimate representatives.
2. Rule of Law: Legal frameworks should be fair and enforced impartially, especially human rights laws.
3. Transparency: Decisions taken and their enforcement are done in a manner that follows rules and regulations. Information is freely available and directly accessible to those who will be affected.
4. Responsiveness: Institutions and processes try to serve all stakeholders within a reasonable timeframe.
5. Consensus Oriented: Good governance mediates differing interests to reach a broad consensus on what is in the best interest of the group.
6. Equity and Inclusiveness: A society’s well-being depends on ensuring that all its members feel that they have a stake in it and do not feel excluded.
7. Effectiveness and Efficiency: Processes and institutions produce results that meet the needs of society while making the best use of resources.
8. Accountability: Governmental institutions, the private sector, and civil society organizations are accountable to the public and to their institutional stakeholders.
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