How can a board of directors with only two members work?
Jan Meriss Alfonso Assistant at Parklin Law Having a board of directors is essential to a successful enterprise. The board is responsible for holding the top management accountable and plotting the course for the company. It is important to have a board that is based on sound principles and operates with integrity. A board should be made up of individuals who are interested in the business and willing to devote their time and efforts to it. It is also important to have a board that can be removed when needed, and the process for doing so should be clearly laid out in the bylaws. Determining the size of a board The first step in determining the size of a board is to look at the size of the organization. Smaller organizations may only have five or seven board members. Larger organizations may have nine to eleven. However, it is important to ensure that the board has enough people to make a quorum. Also, it is important to have a board that is well-versed in the company's...