Question

If the board of directors participates in corporate governance, can the board add value to the company's mission?

Answer 1

The board of directors is the governing body and at regular intervals, the members of the board of directors meet in order to set policies for corporate governance. This highlights that the board of directors plays a major role in corporate management.

            The purpose of the board of directors are clearly defined and the vital thing is that the board of directors have the expertise as well as an understanding of the various needs and missions of a company. The board of directors are the outsiders that have a clear understanding of the business operation and the various types of operating issues. Furthermore, the board of directors are also acquainted with the entrepreneurial process. Therefore, it can be said that board of directors are the ones that show the way governing a company through corporate governance, setting policies for the corporate management which helps in adding value to the mission of a company. Furthermore, the board of directors also determine the mission and vision of the company and set in pace the future development as well as current operations. Hence, the board of directors adds value to the company’s mission.