governance vs. management

From dictionary.com;

gov·ern·ance

1. government; exercise of authority; control.
2. a method or system of government or management.

man·age·ment

1. the act or manner of managing; handling, direction, or control.
2. skill in managing; executive ability: great management and tact.
3. the person or persons controlling and directing the affairs of a business, institution, etc.: The store is under new management.
4. executives collectively, considered as a class ( distinguished from labor).

From WikiPedia;

Governance. … is the activity of governing. It relates to decisions that define expectations, grant power, or verify performance. It consists either of a separate process or of a specific part of management or leadership processes.

Management. …in all business areas and organizational activities are the acts of getting people together to accomplish desired goals and objectives. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources.