Non-Profit Board Management.
December 9, 2005 | By Jack Yoest
Your Business Blogger has a weakness for thinly capitalized organizations in trouble. I recently advised a non-profit on a number strategies. Challenges included hiring talent, fund raising, and risk management.
But the real problem was a board that meddled with day-to-day management.
A recent Wall Street Journal article provides an excellent overview of corporate governance by Jack Falvey.
#1 Directors do not manage a company
#2 Growth is a universal goal.
#3 Directors need only deal with two basic numbers -- revenue and expenses
#4 Succession planning is a board duty
#5 Compensation
#6 Doing homework
A good board of directors provides consulting, contacts and access to capital.
Advice for the next decade. Not the next day.
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Thank you (foot)notes:
ChristianSarkar.com has more at 9 Prophecies from Peter Drucker.
Small Business CEO has info and links on "Managing" your board. Blog Roll/bookmark Steve Rucinski. I did.
Rob Sama is hosting Carnival of the Capitalists.
