Board Directors oversee and guide a company so that it is legally able to operate in the best interests of shareholders and stakeholders. A board ensures that an organization is operating and reporting financials in compliance with regulatory requirements. It also helps the company to maintain a positive reputation and manages any crises that may affect shareholders or the business.

A well-designed board is typically comprised of a chairperson, executive officers and nonexecutive directors. The chair sets the tone of the board and creates an atmosphere of trust and collaboration. Nonexecutive Directors can aid the board be able to assess strategic issues from different perspectives. They may be respected leaders in the local community or experts in their fields. These perspectives from outside can be helpful to a board seeking fresh perspectives on business opportunities or risk.

Many boards are expected to take a more active role in the direction and strategy of the organization, beyond their responsibilities regarding oversight and governance. This may include providing advice on resilience and risk management, succession planning for leaders, cultural and talent development as well as other strategic issues that are crucial for the success of a company.

As the scope of a board’s responsibilities grows, directors are forced to devote more days to their duties. To be able to perform their duties effectively and efficiently they require an application which streamlines their workflow. Board management software is a fantastic way to help them achieve this. Board Portal creates a central repository for all the documents used by the board. This allows the board of directors as well as its committees, members and legal teams to access agendas, financials and meeting information.

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