3.1.2 Role of the Board Final Indigenous Business Toolkit Project Role of the Board of Directors Vern Bachiu Murray Fulton Kristy Jackson Johnson Shoyama Graduate School of Public Policy University of Saskatchewan July 2024 Role of the Board of Directors Summary The purpose of a company’s board of directors is to oversee and advise a company so it meets its objectives. [...] 2 The Purpose of the Board of Directors The board of directors is elected or selected by the shareholders to represent their interests and to oversee the management of the company. [...] As the representatives of the shareholders, the board of directors have a fiduciary duty to act in the best interests of the company and its shareholders. [...] Board cohesiveness is the ability of board members to see themselves as a cohesive and effective team and to be motivated to participate in board activities and to remain on the board over time. [...] The modules in the Toolkit cover everything from the role of economic development in nation building, to the importance of business charters, to the various legal forms that can be used to pursue economic development, to the steps needed to identify and negotiate beneficial partnerships, to the governance challenges that economic development must address.
Authors
- Pages
- 9
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- Canada
Table of Contents
- Vern Bachiu Murray Fulton Kristy Jackson Johnson Shoyama Graduate School of Public Policy University of Saskatchewan July 2024 1
- Role of the Board of Directors 2
- Summary 2
- The Purpose of the Board of Directors 3
- Board Decision Making 3
- Figure 1. Board Effectiveness Model 3
- Table 1. Core Competencies for Board Members Core Competencies Details 4
- The Board-Shareholder Relationship 6
- The boards decisions should ideally align with the interests of shareholders as both parties ultimately want the company to succeed and create value. At the 7
- CEO. 7
- Resources 7
- Notes 8
- Indigenous Business Toolkit Project 9
- Disclaimer 9
- The Authors 9
