How ever did we manage without the idea of "information governance"? Probably as well as without the concept of "compliance", for both seem to be relatively recent usages in Information Management. Albeit that they are not recent words - "governance" has been found in English since 1380, and it comes to us, via Latin and French, from the ancient Greek word "kybernan", meaning "to steer or pilot a ship... to direct".
And that says it all.
Steering, piloting and directing the information management regime is precisely what you need to ensure that it survives and avoids the hidden rocks below the water line, while staying on course to your destination of improved efficiency and effectiveness.
Information governance frameworks vary a lot. The shape of yours should be determined by the nature of your organisation, its culture, its size, its distribution, and other factors. We can identify the best form for your information governance framework and its components, such as policies.
Are we storing enough information about the business?
Who's in charge of which classification?
How do we get this taxonomy changed?
Can we delete this information sooner?
How can we be sure the code list is up to date?
The answers are in the information giovernance framework.