Serving as a critical pillar of organizational leadership and oversight, the board plays a pivotal role in:
Risk management: A board committee sets up risk management frameworks, reviews risk mitigation strategies, and monitors the effectiveness of internal controls to protect the organization from potential threats.
Shareholder protection: The board has a fiduciary duty to shareholders, safeguarding their interests and maximizing shareholder value. It ensures shareholders receive accurate and timely information, promoting transparency in financial reporting and disclosure.
Stakeholder engagement: The board engages with various stakeholders, including employees, customers, suppliers, and communities. It considers their interests and concerns, fostering positive relationships and ensuring the company’s actions align with societal expectations.
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