Boards of Directors are accountable for a myriad of tasks, from financial oversight and determining the best way to manage organizational resources. This is a position with high responsibility that requires commitment and dedication. It is vital that anyone who wants to join the company’s board of directors understands what their real duties are before they commit to the job.
Aside from the governing board of a corporation there are other special boards that are focused on specific areas, such as fundraising, marketing or community brand awareness and connection. These boards are usually a mixture of inside and external directors with different perspectives and skills.
The principal responsibility is to ensure that they comply with their legal obligations. These are usually broken into three broad categories.
Duty of Care
A board director’s legal responsibilities in this area are making decisions based on the highest interests of the company and making sure that their decisions are in line with all applicable laws and reporting requirements. This includes familiarizing them with the legal documents of the organization and the bylaws of the board.
It is also crucial for a board of directors to actively promote their work and to strive for public relations that paint their organisation in a positive image. This is a responsibility that should be a natural to the most passionate and committed board members, but it could be a challenge for others who may not be as active in promoting the work of the organization.
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