A board of directors is a collection of professionals who serve as the representative of shareholders of a company. They are responsible to ensure the company’s success in areas like financial, legal and ethical practices. Although most boards are found within public companies but they are also present in non-profit and private organizations. A well-run board of directors can be an invaluable resource for the CEO as well as for growth of the company.
Professional Development
Board membership offers many opportunities for professional development which are not readily available at work. You will gain a range of perspectives and experiences that will improve your ability to think strategically and your understanding of governance. You will be able to interact with people from different backgrounds and different industries. This is a great way to expand your network of contacts and increase your knowledge.
A board member can also help you build a network of quality business contacts. You may meet people at all levels of management, as well as vendors, investors and clients, based on the composition of the board. Additionally the board members may be able of connecting you with their own network of business contacts, which could further broaden your scope of possibilities.
The final benefit of being a board member is that it gives you the chance to make an impact in the world. This is a hugely rewarding experience that makes the significant investment in time and energy well worth it.