A board of directors is responsible for providing oversight of a company as well as its governance practices, and provides support for the strategy formulated by management. It is also responsible for ensuring that the company is operating legally and in the best interest of shareholders and other stakeholders. The board may comprise an assortment of inside and outside members, with each elected for a specified period of time. The ideal board is well-rounded, diverse, and has a wide range of abilities, experiences and backgrounds. They will embody the organization's fundamental values and demonstrate a commitment to its mission.

Boards must also be willing to take on risks and make difficult decisions. They should also demonstrate an understanding of and ability to work in a team-oriented way. They should be able to articulate the strategic vision and direction for their organization and understand how to develop and execute an action plan.

Boards should be prepared to quickly respond to changes in the business and societal environment. They must be proactive in their approach to risk and opportunity management in the areas of talent management corporate finance and succession planning for CEOs, organizational culture the data room branding, community awareness and outreach, as well as fundraising.

An effective way to build a solid board of directors is to build an applicant database of qualified candidates and inviting them to apply for jobs whenever openings arise. This process is as simple as posting a job announcement on LinkedIn or sending out an email announcement.