What are the key responsibilities of a board of directors?

What are the key responsibilities of a board of directors?

The key responsibilities include overseeing the organization's management, ensuring financial stability, and setting strategic direction.

How does a board ensure compliance with regulations?

A board ensures compliance by establishing policies, conducting regular audits, and staying informed about relevant laws and regulations.

What is the role of the board chair?

The board chair leads meetings, facilitates communication among board members, and represents the board to stakeholders.

Can you explain the difference between governance and management?

Governance focuses on the overall direction and policies of the organization, while management deals with day-to-day operations.

What are some best practices for effective board governance?

Best practices include regular evaluations, clear roles and responsibilities, and fostering open communication among members.