The success of a business depends on the board directors and the stakeholders. The board is made up of individuals who are responsible for overseeing a business and taking decisions that are in the interests of the shareholders and other stakeholders. The board is independent of management and focuses more on the company’s biggest issues than its day-today operations.

A well-functioning board will significantly improve the performance and growth of a company. Board members are essential in providing direction and insight to the leadership team of the company to help steer strategy and ensure that the business is on track to achieve its goals in business. The board is also responsible for ensuring that the business is in compliance with all relevant laws and commercial considerations.

In the beginning the roles of shareholders, directors and stakeholders are same. As the company grows, however the roles could start to diverge.

Stakeholders are directly affected in the decisions taken by the board and the management team. The decisions can impact their salaries as well as their job security and the work environment. Employees might also be concerned about whether or not the business is moving in a way that is consistent with its values, culture and mission.

Being on a board offers an opportunity to establish a vast network of talented and minded professionals. This can open the door to future professional opportunities and enrich your personal life in a variety ways.

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