https://www.contactboardroom.com/boardmaps-and-boardpaq-board-platforms-key-characteristics/
Boards are unique leadership structures with substantial power. They have a responsibility towards those who are both inside and outside the organization. They operate within the framework of a flexible structure, which is limited only by guidelines set by states and the collective decision of a board to alter its composition and structure.
While boards have many duties they should concentrate on oversight and management policy decisions while delegating operational matters to the executive team and the CEO. This means developing policies and a governance system that will guide their actions as well as the management’s. It also means paying attention to regulatory and legal issues including compensation, conflicts of interests and community benefits, as well as the CEO’s evaluation.
A sound governance system is crucial to the work of a board and should include clear documentation of the duties and obligations of each director and committee. It should also be accessible to all directors via an online portal for board members. This will allow directors to effectively prepare for meetings and keeps discussions of the board focused on the primary issues at hand. It also helps improve communication among members and the smoother transition of board members rotate.
A good governance system also includes the appointment of a lead or presidency director, an independent board member who is responsible for the effective running of a meeting, and sets an agenda. Additionally, it should include the appointment of executive sessions conformity with the requirements of stock exchanges and a time-out for directors to have a private meeting with the CEO in the absence of management.