Thursday, May 08, 2008

A list of board functions

Books of Account
The Board Book
William G. Bowen
( http://www.wwnorton.com/ )

What do boards do?

There can be no dispute that the single overarching responsibility of all boards is to build an effective organisation. This happens through eight principal functions that boards perform, says William G. Bowen in The Board Book. The first of these functions is to select, encourage, advise, evaluate, compensate, and, if need be, replace the CEO. “A sometimes underappreciated (and less understood) function of boards is to give informal advice to the CEO or president outside of board meetings,” Bowen observes.

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