QUALIFICATIONS, TRAINING AND RECRUITMENT OF DIRECTORS

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QUALIFICATIONS,TRAINING ANDRECRUITMENT
OFDIRECTORS
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SUMMARY

• Work of the board
• Ways of training
• Characteristics of a responsible director
• Selecting new directors
• Relevant work of IoD

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A ROLE TASKS OF A BOARD

• PURPOSE of a Board is to ensure the companys
  prosperity by collectively directing the
  companys affairs, whilst being accountable to
  its shareholders and being responsible to
  relevant stakeholders.

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B KEY TASKS OF A BOARD

• Establish Vision, Mission and Values
• Set Strategy and Structure
• Delegate to and Monitor Management
• Exercise Accountability to Shareholders and be
  responsible to relevant Stakeholders

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C TWO FEATURES OF A BOARD

• Direction is not management
• Directors have collective responsibilities

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D WAYS OF TRAINING

• Coaching
• Mentoring
• Courses

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E CHARACTERISTICS OF A RESPONSIBLE
DIRECTOR

• Knowledge
• Personal Attributes
• Fit the Board

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F KNOWLEDGE

• There is no comprehensive list
• But research shows the key areas are
• governance
• strategy
• finance

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G PERSONAL ATTRIBUTES

• Strategic Perception
• Decision-Making
• Analytical Power
• Communication
• Results-Orientated
• i.e. Leadership

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H BOARD FIT

• Board is a working group
• Board size
• Executive or Non-Executive Directors
• Capability gaps

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I SELECTING NEW DIRECTORS

• The Process
• identify board capability gap
• develop personal spec.
• search plan - get to know
• The Chairman
• Executive Directors
• Non-Executive Directors

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J NED DESIRABLE CHARACTERISTICS

• Diverse business experience good track record
• Sharp business mind
• Strength of character
• Network of useful contacts
• Independence

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KRELEVANT WORK of the IoD

• Training Education
• Research (Partnerships with Academics)
• Awards, Diplomas, etc
• Publications
• Board Consultancy (especially for non-executives)
• Good Practice - Code of Conduct