3 Sections of Board Involvement

Whether it is a for-profit proprietorship, partnership, corporation, not-for-profit agency, charity, association, foundation, or society, running any organization entails many business-related tasks. 

Such tasks may include forecasting revenues, acquiring operating funds, hiring staff, purchasing office supplies and equipment, purchasing raw materials, producing products or services for sale, advertising products or services, tracking sales volumes and production costs, to mention only a few.

These activities are arranged into one of three general responsibility areas: 

Planning: e.g., forecasting sales, acquiring operating funds, deciding staff requirements; 

Implementing: e.g., hiring staff, purchasing office supplies and equipment, purchasing raw materials, developing products or services for sale, advertising products or services; 

Monitoring: e.g., tracking sales volumes and production costs, reviewing financial statements