Effective Corporate Governance- Developing an Effective Board or Essay

Effective Corporate Governance- Developing an Effective Board or Governance Team Academic Book - Essay Example governance†, the readers need to know who the members of the board of directors are including how these people are different from the executive members of a corporation (Daily and Schwenk; Pound, p. 94). Basically, making the target audiences know who we are referring to as the members of the board of directors will make it easier for them to understand internal and external factors that contributes to effective corporate governance. (Kindly insert an organizational chart in this chapter) After discussing the members of the top management in Chapter II, this chapter will focus of discussing the role and responsibilities of each members of the board. As part of discussing the role and responsibilities of the board of directors and executives of a corporation, highlighting some possible case scenarios may help the readers have a better understanding of effective corporate governance. The book writer will discuss the role of executive and non-executive directors in terms of making the business objectives work for the best interests of the company. (Mallin, p. 125) For example: Since the best way for executive and non-executive directors to perform their duty effectively is to have an access to the company’s business information (Waldo, p. 5), the board of directors should not only carefully analyze the corporate financial report but also meet the team members regularly to discuss the proposed strategic plans and issues that will significantly affect the success of the business (Solomon, p. 103). This chapter will discuss the following: (1) importance of corporate leadership among the members of the top management; (2) importance of having a third party check for any signs of unusual business practices in the financial statement; (3) importance of establishing an organizational culture that give priority to teamwork as well as ethical, fair and legal