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It is important and it helps non executive directors

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It is important and it helps non-executive directors, particularly we already do thatit helps people book holidays and make other business arrangements2.Avoid unnecessary interruptionsCirculate documents well in advanceAgendaDirectors ReportsBudgetsManagement Accounts-Have a good chair of the meeting this is perhaps the most difficult because the otherthings can be achieved by rules and this is a matter of style; different styles suitdifferent people and different boards-Whatever the style, the chair should be efficient and try to get the best out of his orher colleagues. Everyone should be allowed to put their point of view but not towaffle on for too long10 Reasons Boards Fail-Important to have a board of directors who work well together, making the rightdecisions and knowing what to do is called good corporate governance-This ensures that the company and everyone involved making honest choices in thebest interests of the stakeholdersWhat makes the Board of Directors succeed?-Ten reasons they don’t:1.Board mix – not having the right people, some directors might not have therelevant skills or experience or they might not understand the importance of theirrole and responsibilities as a director. A Board of Directors is only as good as thepeople who sit on thema.Understand roleb.Adequate skillsc.Relevant qualifications and experience2.Board members not up to date – directors need to know their roles andresponsibilities. This includes understanding financial reports. Directors shouldnever be kept in the dark directors should always be informed and new directorsmust be trained and equipped with the right information to help them fulfil theirdutiesa.Current financial informationb.Latest constitutionc.Ask questions3.Not following rules – the company Constitution is like a rule book. It tells thedirectors management and the staff what the organisation can and can’t do and
how it should operate. All directors should be encouraged to learn the rules andknow how to change the ones they don’t provide good results for the organisationa.Constitution/rule bookb.Board vs. organisationc.Policies procedures and protocols4.Poor decisions – not making decisions in the best interests of the organisation. Thechairperson and the directors need to promote responsible decision-making.Effective decision-making will keep the company strong and will allow it to growand prospera.Managing moneyb.Managing assetsc.Effective decision making5.Risk management – not recognising potential problems and risks that mightthreaten the organisation by identifying any problems. Directors can ensure theorganisation is well prepared whether any storm weather, its finances managementstaff or physical environment directors must know how to deal with problems asthey arise. A good way to do this is to keep a checklist of potential problems, risksways of dealing with them if they arisea.Identifying risksb.Managing – mitigating risksc.Insuring against risk6.

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Term
One
Professor
MarkBender
Tags
Common Law, Corporation, managing director

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