The Role of the Board

In many companies board meetings are predominately operational review of the different company functions (e.g. marketing, sales, delivery etc) with the addition of financial and HR reports.

A high performing board has to have a clear view of its role as a board in addition to the day-to-day roles of the board members. 

Role of the Board

In summary the board should:

   -  Set and ensure effective implementation of strategy

   -  Set and ensure adherence to company values

   -  Develop effective governance, reporting and accountability

   -  Ensure appropriate resources are available and appropriately managed

   -  Provide leadership to management and staff

   -  Identify, assess and respond appropriately to potential opportunities and risks

   -  Drive the company forward and deliver performance to the shareholders

   -  A non-executive Chairman may help to ensure that this happens.

The Individual director's role is broadly to help to:

  -  Determine the vision and mission to guide and set the pace for current and future operations

  -  Identify the values to be promoted by the company

  -  Determine company goals and policies

  -  Review and evaluate present and future opportunities, current and future strengths,  weaknesses and risks

  -  Identify the strategic options and provide the means to implement them

  -  Determine the business strategies and plans

  -  Ensure that the company's organisational structure and capability is appropriate to the strategies being employed

  -  Delegate authority to management and regularly monitor, evaluate the implementation of the policies and business strategies and plans

  -  Determine the evaluation criteria to be used by the Board

  -  Ensure that internal controls are effective

  -  Maintain good communications with senior management

  -  Ensure good communication with shareholders and relevant stakeholders

  -  Take into account the interests of shareholders

Whatever their day-to-day role in the company, Directors of an effective board need a broad business understanding and to be able to commit time and energy to these responsibilities.

For help on achieving the above, contact Paul Chapman on 0207 100 1233 or paul.chapman@azurepartners.co.uk