Let’s take a peek behind the scenes. Here, you’ll find board members making important decisions for the future of a business to ensure that it’s in line with the organization’s goals, vision, and mission. This group of members, also simply known as the board, has certain responsibilities and duties but their primary job is to recruit a CEO or general manager who can lead the company to success. Here’s what you should know about their responsibilities and how they affect your business.

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Board Member Responsibilities

There are six primary board member responsibilities:

  • Board governance. The board is responsible for overlooking their own body of members. They create policies and procedures regarding board governance, and ensure that they work as one cohesive group.
  • Company governance. The board creates and/or modifies governing policies of the company. Once you’ve incorporated, you can easily customize a Board Resolution and other essential documents to run your business.
  • Provide direction. It’s the job of the board to provide the vision, mission, and values of the corporation. Board members work closely with the general manager or CEO to direct the company to success.
  • Hire and retain a competent CEO. The board has the distinct responsibility of recruiting, retaining, evaluating, supervising, and compensating a competent CEO or manager who can help the company achieve its goals.
  • Fiduciary duty. The board is obligated to protect member investments and the company’s assets. These assets include human capital (employees), and tangible items like facilities and equipment.
  • Monitor and control. The board is in charge of the auditing process so it’s their responsibility to hire an auditor.

As you can see, there’s much more than meets the eye. With a lot of behind-the-scenes decision-making, it’s extremely important to choose your board members wisely.

Get started Start Your Incorporation Answer a few questions. We'll take care of the rest.

Get started Start Your Incorporation Answer a few questions. We'll take care of the rest.