Board of Directors Job Description and Profile
A Board of Directors legally represents the corporation’s stakeholders’ interests. These stakeholders can be anyone from stockholders to donors and being the representatives of these people, the board of director has the responsibility of guiding, establishing and assessing the way that the corporation should tread. This professional can be recruited for both short and long- term period and is mostly responsible for achieving the mission of the organization. He generally has to detect the key to an organization’s success and assigning the employees duties sufficient enough to realize these goals.
Board of Directors Duties and Responsibilities
- Setting the strategic direction of a corporation by establishing the policies and goals needed for guiding the chief executive and all other sources of leadership.
- Hiring the chief executive officer and delegating the daily operation of the corporation to the person.
- Defining the CEO’s responsibilities, providing guidance and supporting in order to improve the CEO’s performance.
- Formulating the rules of governance, establishing the methods for oversight and determining the determining an outcome.
- Staying accountable for the quality of the products or services and regularly scheduling the financial reporting.
- Staying financially and legally responsible for all the vital decisions made by the corporation.
- Planning to attend meetings on regularly, participating on a standing subcommittee, becoming familiar with the products and services of the organization and promoting the organization.
- Establishing the policies and procedures and making it work.
- Helping in an organization’s fundraising efforts if the organization he is associated with is of nonprofit type.
- Maintaining a budget of the organization and ensuring that the organization is following it along with deriving the desired profits annually.
Board of Directors Education, Training and Qualifications
Bachelor’s degree in Marketing or Business Administration is necessary. Awareness about the changing trends in the world of finance and business is highly imperative. At least five years experience in Business management is necessary.
Board of Directors Degrees, Courses & Certification
Different certifications on Management and Finance can be of great aid in order to prosper in this field. One needs to prove his abilities and have requisite expertise in order to reach this position.
Board of Directors Skills and Specifications
- Highly creative in nature
- Great supervisory skills
- Excellent communication skills
- Awareness about the recent advertising skills
- Responsible and organized
- Stress tolerance
- Great leadership qualities
Board of Directors Salary/Wage
The salary of the board of director depends on the annual income of the organization he is associated with. However, the salary of this professional depends on the nature, experience and nature of the industry he/ she is working for.