Etymology
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governance (n.)

late 14c., "act or manner of governing," from Old French governance "government, rule, administration; (rule of) conduct" (Modern French gouvernance), from governer "to govern, rule, command" (see govern). Fowler writes that the word "has now the dignity of incipient archaism," but it might continue useful in its original sense as government comes to mean primarily "the governing power in a state."

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Definitions of governance

governance (n.)
the persons (or committees or departments etc.) who make up a body for the purpose of administering something;
the governance of an association is responsible to its members
Synonyms: administration / governing body / establishment / brass / organization / organisation
governance (n.)
the act of governing; exercising authority;
Synonyms: government / governing / government activity / administration
From wordnet.princeton.edu