You have a board of directors and a company full of opportunities and challenges. Keeping a company on course in an ever changing marketplace is a full time role in itself, but your aim is to achieve this in only a couple of hours every month during the board meeting.
Each board member has their own specific duties in the company and they are busy ensuring their division continues to be successful. As the company grows this compartmentalisation increases further leaving little time to dedicate to the overall strategy and vision of the company moving forward.
Directors are focused on delivery, resourcing, cash-flow, finding customers, gaining market share from competitors. It is natural in their aim to excel at their own role that they become blinkered to optimising their own role and responsibilities.
This would be fine in a world where external factors stay fixed month on month, year on year – the company would become increasingly better at offering its products or services and continue to grow. However the pace of change continues to increase and no matter how successful your company was last year, unless you are able to stand back and assess the big picture sufficiently you might find yourself pushed out of the market.
One of the roles of Non-Executive Directors (NEDs) on your board, who remain un-blinkered and operate at a purely strategic level is to help ensure the company avoids this fate. NEDs also bring with them a wealth of experience and knowledge that might not otherwise be on the board from its executive members which can help solve and avoid problems and find new opportunities for the company.
Having experienced and varied Non-Executive Directors (NEDs) on your board can give you vital help in successfully steering your company through all the challenges it will come up against and improve its ability to continue to succeed into the future.
Whether the knowledge, experience or skills you are looking to add to your board Tinnoco directly offer NED candidates, or via its extensive network can suggest many more.