Governance put appropriate structure and process in place While, management is creating enabling environment for appropriate decision making to ensuring that the structure and processes in place are followed to ensure the attainment of predetermined objectives.
Governance works on the basis of a separation of powers whereas management makes decisions while directors take decisions.In other words; Governance is the job of governing body such as committee to provide direction, leadership and control. Management is typically its day to day running or operating in accordance with policy and resources.
It is interesting that this post is here at the same time I am attending a leadership course where we have been asked to explain the difference! In our discussion, we highlighted that leadership is a process based on influence while management relates to day-to-day running of an organization. The key activities in leadership include challenging, persuading, influencing and inspiring others to take action while management activities include planning, controlling, coordination, and organizing. While leadership requires creativity and innovation, management involves working with structures, policies and procedures.