The Boards are responsible for establishing the corporate strategy, directing management and making sure that the best interests of shareholders and other stakeholders are met. They also have the responsibility of addressing conflict between management and the shareholders, whether it be disputes about compensation or disagreements regarding the direction of the company.

In addition to the numerous tasks boards have to carry out They are frequently called upon to provide guidance and support to the management team by providing them with guidelines and resources, like approving new marketing campaigns or allocating additional resources. They also play a role in determining the company’s risk appetite and implementing a robust risk management programme. They are also required to ensure that internal controls are in place effectively.

Another aspect that requires board oversight is ensuring that all legal requirements are met and the company is in good standing with regulators. This can be an exhausting task which must be performed in the context of other committees such as audit and compliance.

In the end, boards should assist the company in developing an enduring culture by providing a positive example to all employees. This is especially important in the current climate, where corporate behavior is collaborative tools transforming remote work scrutinized more than ever.