What are the expectations and obligations required by me to successfully fill this position?

Discussion Question 4

You have been asked to join the board of a large corporation. From what you learned in this week’s module, what would be some of the questions that you should ask and what are the answers that you are expecting?

 (Discussion question must be min 150 words and 1 cite source. The 2x peer responses must be 75 words min.)

Peer 1:

I picked 5 questions that I would ask if I was part of a corporation’s board:

What is the company’s mission, vision, and purpose?

What decision making process is used?

Does the company use corporate governance?

Does the company have a code of conduct?

How is the communication between employees?

Are there ethical issues within the company?

The answers that I expect:

A clear mission, vision and purpose that supports ethical decision making and every employee is aware of and agrees with.

The board will describe the decision-making progress use to effectively lead using ethical values.

The company uses third parties to deal with issues. For example, advisors or lawyers adding to the decision-making progress.

The company has a code of conduct that employees need to read and sign before being employed.

Communication with employees is done through training and meetings to communicate standards/responsibilities , and at the same time give employees the opportunity to talk about concerns.

Peer 2:

  Becoming a board member is a tremendous responsibility and privilege. Board members are called on to serve and add value to their organization. Insight to the role as a board member can be fulfilled by asking a few key question about expectations & compensation, mission and goals, and regulations. 

           What are the expectations and obligations required by me to successfully fill this position? This should be clarified first and foremost. Individual and collective expectations should be crystal clear prior to accepting the position in order to maximize success. Will my compensation be in the form of salary or volunteer?  Some volunteer members are provided perks such as  exclusive events or travel.  Either way, clarity of compensation is key for any potential or existing board members. 

          Beyond profit, what is the vision and does it align with my core values?  Reviewing the mission statements should give a clear idea of the direction of the organization. Requesting short and long term plans allow thoughtful insight and help decision making process for board members.  Board members to should also potentially contribute ideas and values of their own as well. Learning and observing these values will influence decision making. Becoming familiar with employee interaction and traditions will prove to be valuable.  Recognizing an unhealthy culture and determining a need for reform, will also optimize effectiveness.

           What are relevant regulations to my position as a board member? This will help avoid costly mistakes that can damage reputations, harm relationships, or launch investigations. While this duty is often delegated, there is a legitimate expectation of knowledge for board members to obtain.

            In order build a successful board that works in harmony members must constantly and consistently pursue knowledge and growth. Remaining aware and asking these key question will give the proper insight and tools for success. Strong and effective leadership will pay off for years to come.

Mariama-Arthur, K. (2018, December 27). Building a Better Board: 5 Things Every New Board Member Should Know. Retrieved September 14, 2020, from https://www.entrepreneur.com/article/324068