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Governance and Self Interest

Blog: The Knowledge Economy

I recently read an article in the Australian Financial Review. It suggested that there is a split in one of the Australian political parties. The rationale given was that  a decision made by leadership could jeopardise future elections.

This read to me as a party putting their own ongoing employment over the interests of the country. Self interest, to them, is more important that national interest.

The message given is  that winning an election has priority over good governance. Popularity and ‘self interest’  are the measures to apply to decisions making.

Parallels within a business context are obvious.

Whilst not universal,  individuals tend make decisions that suit themselves. With no, or ignored, governance processes  a decision made may not be best for the business.

A good decision making process is independent of the short-sighted wants of the individual. It aligns with the long term needs of the business.

A business should adopt an accepted long term vision and principles. It should measure all decisions against them. Doing so leads to a better outcomes.

In the case of government they are in the business of governing. All decisions made should better the nation. It is past time to discard the petty wants and ideologies of the individual.

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