I found as good description as any of governance in the column linked below:
“.. “managing, steering and guiding of public affairs by governing procedures and institutions in a democratic manner’…
And it shows partly why, within markets, the tension between the entrepreneurial activity and the public good role of markets is exactly why collaborative processes are necessary (italics added):
“These include the diverse goals, priorities, and values of the members of the chain, networks across sectors and scales, power relationships among many different players in the chains, and other factors. There also must be flexibility in order to negotiate accommodations to different priorities. In order to enhance their viability, new and established food supply chains need to think about utilizing open governance processes as they start up and scale up.
These are also called reflexive processes, in which people engage to discuss tensions regarding group objectives, recognize contradictions, and deal with differences in a respectful way (see DuPuis &Goodman, 2005; Hassanein…”