The institution is governed and administered in a manner that allows it to realize its stated mission and goals in a way that effectively benefits the institution, its students, and the other constituencies it serves. Even when supported by or affiliated with governmental, corporate, religious, educational system, or other unaccredited organizations, the institution has education as its primary purpose, and it operates as an academic institution with appropriate autonomy.
Page 4 of the Design Template has more information on how that is addressed in the Self-Study Design.
Page 20 of the Standards for Accreditation and Requirements of Affiliation has a detailed description of Standard 7.