Co-governance

Co-governance As part of the participatory practices of business model architecture, Co-governance refers to the involvement of participants in the decision making processes regarding the regulation and accountability of the designed business models. UVA: It refers to an approach to management and decision-making in which multiple stakeholders actively and collaboratively participate in the strategic direction of a museum. Rather than having a hierarchical and centralised leadership structure, co-governance involves the inclusion of diverse perspectives and voices in the decision-making process. These stakeholders may include local community representatives, cultural experts, donors, volunteers, researchers, and others, working together with the Museum board. This approach promotes collaboration and engagement of the community and other key stakeholders, which can lead to greater diversity in the museum's exhibits and programs, greater relevance to the local community, and greater long-term sustainability. Co-governance also promotes transparency and accountability, as decision-making is shared and subject to scrutiny from multiple actors. Nonetheless, it can also be resource-intensive and would require trust-building and clear decision structures.
By UVA