Roles and responsibilities of active board of directors:
- Representing the stakeholders to review reports from management on company’s performance periodically.
- Giving advice to management with the goal to maximize stakeholders’ wealth.
- Voting on major decisions of the company including hiring new executives
- Providing financial support for the existence of the company through investment or donation
- Setting up legal presence of the company and take responsibilities as owners
- Writing companies policy, procedures and ethical guidelines