www.boardroomnow.info/working-board-vs-governance-board
Boards of Directors are accountable for a variety of responsibilities, from financial oversight to determining how to best manage resources within the organization. It is a top-ranking position that demands commitment and dedication from anyone who is willing at meetings without pay and pore over budget documents, and accept legal responsibility for a company. It is crucial that anyone considering joining a company’s board of directors knows what their specific job duties are before they commit to the role.
There are special boards in addition to the governing board, that concentrate on specific areas, like fundraising, marketing, or branding and community connections. These boards usually consist of a mixture of inside and external directors, who have diverse perspectives and knowledge.
The most important aspect of the job for any board member is to make sure that they fulfill their legal obligations, which are usually broken down into three broad categories:
Duty of Care
A board director’s legal responsibilities in this field revolve around making decisions based upon the best interests of the business and ensuring that their choices comply with all applicable laws and reporting requirements. This includes educating them on the legal documents of the business and the board’s bylaws.
It is also important for the board of directors actively promote the work they do and strive to create public relations that paint their company in positive light. It should be simple for the most enthusiastic and dedicated members of the board to carry out this duty, but it may be a challenge for those who are not as active.