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The success of a company is dependent on the board directors and stakeholders. The board is made up of individuals who are responsible for overseeing a company and taking decisions that are in the interest of shareholders and other stakeholders. The board is independent of management and concentrates more on the company’s big issues than its daily activities.

A well-functioning board can aid in the efficiency and growth of any company. Board members are vital in providing guidance and insight for the company’s leadership to help drive the strategy and ensure that the business is on the right track in achieving its business goals. The board is responsible for ensuring that the business adheres to all applicable laws and commercial considerations.

In the beginning the roles of directors, shareholders and stakeholders are the same. As the company expands, however, the roles can start to diverge.

Stakeholders have a direct stake in the decisions that are taken by the board and the management team. These decisions can affect their pay as well as their job security and workplace environment. Employees could be concerned about the direction in which the company is headed, as well as its values, culture and purpose.

Being a member of a board can give you the opportunity to build a group of talented and similarly-minded professionals. This could open the door to opportunities in the future and add benefit to your personal life in many ways.