The role of the board is to provide guidance and oversee the executive management team. It makes sure that company policies are in place, and that all fiduciary obligations are met. Some boards grant too much power to the executive leadership. Many don’t. The media is brimming with stories about business failures caused by incompetent or corrupt management teams.

To avoid the occurrence of such catastrophes, it is important to ensure that your board includes a wide range of perspectives and expertise. It should also work effectively as a team. This requires setting up the principles of management for your board, such as accepting different perspectives and assuming leadership roles, encouraging an flexible structure (e.g. creating committees to address new risk areas) and involving in continuous evaluation of the board and individual members.

Another principle of board management is not to get too involved in the day-today activities of your business. The primary role of a board is to determine the long-term vision for your company and its role in the society.

Although this might seem like a simple idea, many companies have a hard time with this idea. Some board members, for example begin meetings directly with the management, without the CEO’s knowledge or jump straight to conclusions to help. This could put the CEO in a bind position. The Secure file sharing CEO must work with the chairman of the board and other directors to resolve the issue and restore trust.