Strategically Selecting A Board That Works In The Best Interest Of Your Company
Background
It is understood that a duly incorporated company possesses a legal personality i.e. is seen as a person distinct from its founders. It has the rights of a physical person and can buy, sell, sue or be sued. It then becomes a valid question, how does a company which is an abstraction perform all of these functions? Through its officers e.g. Board of Directors, Employees, Contractors etc.
Try to visualize this.
Here’s your company.
He thinks, strategizes and plans with his brain (Directors) and then carries out the instructions with his hands, mouth, legs etc. ( employees that carry out the day to day functions).
It would seem that since the other parts of the body only carry out instructions from the brain, it is therefore very important that the brain functions optimally. That the brain can properly assess situations, has the ability to reasonably anticipate risks and can position itself efficiently to handle such risks, can deliberate on matters and come up with solutions, basically trusting the brain to keep the body alive and well. This is the job description of any board of directors in the simplest of terms, therefore selecting your board has to be done without bias, sentiment and logically.
