Overview

Governance is the leadership, stewardship and oversight of a company or organization. All corporations - whether a for-profit business or a nonprofit agency, a family business or government agency - require a board of directors to oversee their business affairs.

Board of directors

• The principal role of the board of director's is to act on behalf of the owners or shareholders of the organization or the company.
• As the highest level decision-making body, the board of directors plans for and guides the long term success of the organization
• In making decisions on behalf of the owner/shareholders, the board must act ethically - that is, with integrity and in good faith.
• To maximize its impact, the board should consist of carefully selected directors - competent and ethical individuals who embody a diverse set of skills and talents.

A strategic board of directors:

• understands and commits to the mission and purpose of the organization or company,
• is committed to strong, mutually supportive relationships with partners,
• is ethical, resource conscious, and
• is forward-looking and results-focused.