https://boardnearme.com/communicate-effectively-to-create-better-board-relationships/
A board of director has legal responsibility for making high-level decisions. This includes hiring and firing the CEO, directing the strategic direction of the company and ensuring that the company meets its goals. The board consists of respected and knowledgeable individuals and former executives who are selected from the community. They are responsible for setting the corporate governance.
A strong board is one that has a clear goal and is able to operate with open communication and respect for different viewpoints and accountability to shareholders and other stakeholders. It also has independent directors who are not entangled in conflicts of interest and who have an outlook for the long-term company’s growth. Having a formal orientation process, establishing relationships with other members, and agreeing to meet regularly are vital.
A good board member is not only smart in business, but also curious. They are able to ask thoughtful questions to management and to other members that will challenge their thinking and help them make the best decisions. Having niche experience, such as sales or capital-raising expertise can be an advantage.
Boards are increasingly taking on additional responsibility, including strategic planning, risk and resilience management as well as diversity and inclusion and technology and digitalization. They must become more tech-savvy and play a larger role in the hiring of CEOs and other top leaders. The COVID-19 epidemic has taught boards that they need to be more proactive in dealing with emergencies and preparing for the possibility of uncertainty, according to McKinsey.