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Governance and Management are two distinct concepts that are often interrelated. Governance is the process of setting and enforcing the policies and regulations that guide an organization's operations, while Management is the implementation of those policies and regulations. Governance is concerned with the overall direction of the organization and its objectives, while Management is concerned with the day-to-day operations necessary to meet those objectives. Governance sets the parameters that Management must operate within, while Management translates those parameters into tangible results. In short, Governance provides the framework for Management to achieve organizational goals.