What a Board of Directors Is & How It Affects You

Boards of Directors have a huge impact on how our lives are shaped ...

What is a Board of Directors?
“Simply put, a board of directors is a group of people legally charged with the responsibility to govern a corporation. In a for-profit corporation, the board of directors is responsible to the stockholders—a more progressive perspective is that the board is responsible to the stakeholders, that is, to everyone who is interested and/or can be affected by the corporation. In a non profit corporation, the board reports to stakeholders, particularly the local communities which the non profit serves.”
(source: Carter McNamara, MBA, PhD, Authenticity Consulting, LLC)

How Does it Affect You?
Essentially anything that is the product of an organization large or small—services, manufactured goods, jobs, education, healthcare, transportation systems, the list goes on to include pretty well everything that make up the things we do or possess—are the product of decisions made by boards of directors. A board of directors may not seem to touch your world, but very often it has more impact on you than your elected government.