"So... You Want To Be On The Board Of Directors... Huh?" Details the 6 essential responsibilities of a BoD, along with the 3 primary activities of the BoD.
The Big 6 in a nutshell
1. HIRE- hire top management
2. DEVELOP- work with management to develop a business plan for the company
3. CAPITALIZE- provide capital to fund the business plan
4. MEASURE- develop the means of measuring success
5. INCENTIVIZE- provide effective incentives for top management to execute a successful plan
6. GOVERN- establish key company policies required by the legal fiduciary responsibilities or are key elements in successful execution of the business plan
3 Major Board Activities
1. WHO - WHO BELONGS ON THE BOARD OF DIRECTORS?
2. COMPENSATE - HOW DO YOU COMPENSATE MEMBERS OF THE BOARD OF DIRECTORS?
3. GOVERN - GOVERNING THE BOARD OF DIRECTORS