The Cost of Board Membership: Board Governance Redefined by Justice Mike J. Chibita

by BusinessTimes Ug
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There is always a first time for everything. There is the first time on the Board.

Welcome aboard. Board membership is an exclusive club. You must possess impressive academic credentials, impeccable character and years of experience.

Against all that rich background, however, you are a freshman board member. This must be at the back of your mind as you seek to make your mark on the board that you have been privileged to get invited to.

Be wide eyed and open eared. Be willing to listen and learn from whoever can offer constructive advice. The CEO, the staff, including the cleaner and the office attendant. These people have been around the organisation longer than you and you never know what bottleneck they can advise you to navigate.

You must love to read and research about the organization you are beginning to serve.

You must love to read and research about the organization you are beginning to serve. Not just Vision and Mission but also its history, performance, staffing, finances.

Read about other board members. Who are they? What do they do? Approach them and ask questions and engage them in matters concerning the organization and learn as much as you can from them.

If you have not heard about ENRON, quickly go to the internet and do a quick search. All new board members and aspiring board members should do a case study of ENRON.

Hopefully it helps you realize that things can go terribly wrong when you least expect them. It helps you realize the place of the board in the life of organizations.

Above all, ENRON should help you decide whether you really want to bear the weight of board member on your shoulders. ENRON is a good measure of the cost of board membership.

You should also search for the best boards and how they are run. For every ENRON, there are hundreds of success board stories. Yours should be one of them.

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