Boards are accountable for hiring, supervising, and removing senior managers. They also ensure that the company is on track to reach its strategic goals and ensure that management is in good shape. They also provide direction and assistance to the CEO, and ensure the compliance of regulatory bodies and ethical standards.

The majority of boards are focused on the bigger picture. They are like a jumbo jet flying at 30,000 feet. A CEO is similar to an aircraft pilot flying at 2,000 feet and making adjustments as necessary.

The most important function of boards is to formulate the company’s overall strategy, and then to work in with a team to implement the strategy. They can be very useful during times of crises. “No CEO is expert in every area,” says Brotherton, “but boards can provide them a lens that’s extremely strategic and high-level, which allows them to steer the company through difficult waters.”

Some of the most valuable contributions that board members make is their professional networks. A board member who has experience in an industry or business practice can connect the business with resources that can be beneficial including potential strategic partners, investors and professional advisors.

A board member who is successful can offer constructive feedback and constructive challenge on issues of strategic importance like organizational investments and performance evaluations, program financing and policy development. Your career can be greatly affected by the chance to improve your governance abilities and increase your corporate credibility. Additionally, the opportunity to build a solid network of professional connections could give you opportunities in the future for you in both the public and private sectors.