Corporate Boards are accountable at a higher level for the activities of an organization, whether a nonprofit, business or charitable corporation. They are not concerned with the nitty-gritty details, which are handled by executives of the company. They are fiduciaries. That means they place the interests and requirements of their company above their own.

They serve as strategic advisors to the CEO, offering support and challenging him or the CEO in a constructive way. They assist the CEO in finding ways to deliver on the company’s strategic goals, and they ensure that the CEO is accountable for the achievement of those goals.

In addition to ensuring the CEO has everything is required to implement the strategy A well-managed board is also focused on culture and talent. A strategy will only be worth it if the management and employees are able to execute it. The culture of the company and its employees are integrally linked to their ability to execute the plan.

A well-managed board will always be current with the latest trends in the industry and the marketplace. This requires a solid information architecture that includes efficient processes for capturing data, disseminating information and communicating it such as reviews of social media and media news reports and others.

A well-managed Board is aware of its own strengths and weaknesses and continuously strives to improve the efficiency of the board. This could mean being afraid to challenge established practices like formal operating procedures or the committee structure that has been in place for a long time. It may mean bringing on new directors who have distinct skills and experience including vast knowledge of the international market or the ability to run businesses that are 2x or 3x bigger than the board’s company.

https://theseboard.com/10-reasons-why-we-need-more-women-on-boards/