The board of directors plays the unique responsibility of corporate governance, directing and protecting the long-term interests of the organization. To accomplish this, the board needs to have a purpose and a defined scope and understandable to its members.
To be able to do effective work, the board should be able to identify and prioritize the tasks it can legally delegate to management as well as those it must take on itself. To help in this process, many boards develop a schedule of reserved power that clearly states the tasks that are to be performed by the board and those that could be assigned to managers at the top.
A board that is committed to the success of a business will be able set aside personal and local concerns to focus on their core responsibility and provide the oversight required to reach company goals. It will be able, in turn, to monitor performance effectively and make accurate and timely decisions. It will be in a position to question and challenge the management team and ensure that the business has the right resources and controls to realize its strategic vision and plan.
Being a good board member is a difficult task that requires a amount of commitment and dedication. Aprio’s software for board portals helps simplify the numerous processes of policies, insights and stakeholders, as well as the many moving parts that are required for this crucial task. Demonstrate how it can benefit you.