Conceptually, identity governance can be defined as the rule of the rulers. In the business world, governance is the process by which authority is conferred on management, by which they make the rules, and, those rules are enforced and modified. Thus, understanding governance requires an identification of both the rulers and the rules, as well as the various processes by which they are selected, defined, and linked together within an organization.
Good governance is in general participatory, transparent and accountable. It is also effective and equitable and promotes the rule of law. Good governance ensures that priorities are based on broad consensus within the enterprise to meet the needs of all parties including consumers, customers, regulators, shareholders, and auditors fairly, effectively, and efficiently.