This paper addresses the complex challenges and opportunities surrounding ethics, accountability, and societal impacts brought about by the rapid development of generative artificial intelligence (GenAI). Drawing on a literature review, existing governance frameworks, and industry roundtable discussions, it presents core principles for integrating responsible GenAI governance into diverse organizational structures. It aims to provide actionable recommendations for a balanced, risk-based governance approach that enables both innovation and oversight. It emphasizes the need to build trustworthy GenAI through adaptable risk assessment tools, ongoing monitoring practices, and cross-sector collaboration. It also provides a structural foundation and a guide to Responsible GenAI (ResAI) to align GenAI initiatives with ethical, legal, and operational best practices.