Writing by David Langstaff
On Corporate Compliance Insights’ website, David Langstaff wrote an interesting article on the role of Board Members. It differentiates two principals functions: one is overseeing operations and a second is executing a growth strategy.
Many Boards abandoned the second point, they are focused on the compliance and don’t look at the future. A company must have clear goals: both a long-term vision and shorter-term operating goals.
The author adds the following idea, that if boards have no concern with the longer terms goals, it will be difficult to propose an operating plan. Board members need to know that and what the company is seeking to accomplish and how it proposes to get there.
It is the very synthesis of these two aspects that determines the efficiency of a Board and its activities.
Read More :
Boards of Directors: Doing Just Half the Job