Boards of Directors Responsibilities
Boards of directors are responsible for a myriad of tasks, ranging from financial oversight to determining the best way to manage the resources of an organization. It is a position of high responsibility that requires dedication and commitment. It is vital that anyone interested in joining the board of directors of a company is aware of what their job duties are before they commit to the position.
There are special boards in addition to the governing board, that are focused on particular areas, like marketing, fundraising, community connections and brand awareness. These boards are usually comprised of internal and external directors who bring different perspectives and experience.
Board members’ principal responsibility is to ensure that they comply with their legal obligations. They are typically broken into three broad categories.
Duty of Care
In this area the board director’s legal obligations are to make decisions that are best in the interests of the company. They also have to ensure that their choices comply with all applicable laws and regulations. This is a requirement to ensure that they are familiar with the legal organizing documents of the organization as well as the bylaws of the board.
It is also important for the board of directors to actively promote their work and strive for public relations that portray their organisation in a positive way. This is a responsibility that should be a natural to the most enthusiastic and dedicated board members, but it can be a challenge for others who might not be as active in their promotion of the work of the organization.
http://www.boardroomnow.info/what-is-the-difference-between-oversight-and-management/