Question

What is the role of executive staff in ensuring the long-term success of an organization?

What is the role of the Board?

How are they similar?

Answer 1

When it comes to long-term sucess of a business or organization role of executive staffs e.g CEO, CFO or COO can't be denied. They are the one who lead a company to its mission and vission.

• A CEO acts as the main point of communication between the board of directors and corporate operations and being the public face of the company.
• They help the organization progress toward achieving goals for the strategic plan.
• Formulates policies and planning recommendations to the Board.
• Decides or guides courses of action in operations by managing the staffing and organizing the employees.
• The CEO of a company is likewise to motivates it's employees in reaching it's longterm Goals. e.g. Sundar Pichai of Google.
• Executive staff should aslo act as a manager and oversee operations of organization, implements plans, managing human resources of organization and also financial and physical resources required to achieve long term goals.

Board on the other hand are responsible for setting goals and strategies for a company and consists of a board of directors (B of D) who are an elected group of individuals that represent shareholders.

• They are the one who form the rules, mission and policies of an organization and the executive have to implement them.

• The board is also reponsible for deciding the organizational structure based on the objective set and policies formed.

• They also have role in appointing the CEO and also have responsibility in participating in major financial decisons such as megers, aquisition.

• They also review , evaluation financial and operational performances and also provide feeback and form further strategies on what can be done better in the future.

• Board also decides on the dividend policies and how much dividend must be paid to the shareholders.

• Board all monitors key financial changes and also evaluates them and shares the feedback with the shareholders of the company.

So what can be the similarity between baord and the executives ? well many baord member including the chairman of the Board or COB are executives themselfs elected by the shareholders , usually the CEO of a company is also chairman of the Board. But the board the power to remove and appoint the CEO or the chairman if it wants to do so.

• Until board is formed with independent directors , a board and executive staffs almost have same function and roles.

• The baord usually decides and formulates policies and strategies and an excecutive staff must implement them and turn them into quantitative results.

• Executives are more responsible for operational decisions where as baord monitors and controls overall decision of a company.

• Board should look into the long term future and establish a mission and vission to reach it's gaols and executive carry forward from their to acheive that goal.

• So it can be said that baord and executives are to some points are similar but are different level at the organization , but if they don't work together , it is never possible for a company to be sucessful and reach its goals.