Board members are expected to devote an extensive amount of time to their role. Meetings can be long and involve review of financial documents, addressing legal issues, and discussing strategy and the goals of an organization.
The role of a board member is to put the interests of the corporation before their own, so as to effectively represent the business and to fulfill its mission effectively. Board members are also expected to be honest and not utilize their position to gain personal gain. This is generally reflected in the company’s governance regulations.
Another aspect that is specific to non-profit organisations is to be attentive to community relationships. This could include working with businesses, citizens and elected officials to develop new initiatives or programs. This type of collaboration can also allow a board to be more attentive to the people it serves.
Board members are expected to adhere to all corporate governance rules. This is often more important than their ethical declarations. Board members must conduct their activities in accordance with the rules of the corporation and are expected to research all aspects of an issue before they vote.
It is vital that the board is made up of both insiders and outsiders to ensure balance. A combination of both brings a diverse array of experiences and perspectives to the table which can benefit a company or organization.
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