People that are outside of the company, and not your friends or family
What is an independent board member?
100
Duty of loyalty and care
What are the responsibilities of the board?
100
Being well informed about the company.
When talking about the duty of care, how can it be shown?
100
Five to nine members.
How many board members should there be, to be effective?
100
Vision, mission, strategy
What are examples of permanent basic information?
200
Members can recieve directors fee's and stock options.
What can the members tangible compensation be?
200
Oppurtunity to learn and satisfaction of advising.
What are examples of intangible compensation?
200
This will allow real examples from the company and give the employee's a voice.
Why would employee's want to join the board?
200
Few hours monthly or a three-day off-site meeting
How long should the meetings go?
200
Top competitors and top 20 customers.
What information is updated annually?
300
CEO’s think independent members cannot help with long term planning, giving up control is hard and they do not like to share private financial information
What are con's of having independent members on the board?
300
Directors must do everything in their power to supervise the compaines activities and theire actions must resemble the best interest of the company.
What is duty of good faith and loyalty?
300
Protects directors from having their decisions second-guessed.
What is the business judgment rule main activity?
300
No more than two members should be this.
How many insiders should be on the board of directors?
300
The board does this.
Who reviews CEO's performance and sets the compensation for the upcoming year?
400
They can be internal checks for finances and other legal issues. Also, they can be advisors and steer the company to be prosperous.
Why is it good to have independent members on the board?
400
Industry experience, financial expertise, marketing experience, start-up experience, and technical knowledge
What skills should the board members have?
400
They usually will want one or two members of the board so they have a say in the direction of their money and insight into the company.
Why do venture capital investors want a say in the board members?
400
He is on the chairman of director's for Ceja.
Who is Greg Oliphant?
400
Nominating committee
How do you select a board?
500
Members need to have functional skills and a mix of personalities.
What 2 things does the CEO need to consider when choosing their boards?
500
To support the CEO.
What is a function of the board?
500
To supply directors with an agenda before the meetings.
What is the companys responsibilities?
500
Cuesta Foundation Inc.
What is the organization that Mr. Oliphant is the vice president/treasurer for?