Strong boards and board committees need to practice the following 12 points.

1. Strong understanding of the organization’s mission and products.
2. Strong understanding of the marketplace and competition.
3. Clarity of all the financials, budget, capital stacks, and balance sheets.
4. Strategy reviewed quarterly.
5. Radar is the ability to look forward to threats and opportunities and the appropriate responses.
6. Hold itself accountable for the talent of the CEO and talent overall in the organization.
7. Understand and balance the shareholders’ objectives with management’s strategy and the firm’s capital needs. Understand that in addition to shareholders, there are a total of 7 stakeholders in any business or nonprofit. All need attention to thrive.

• Employees
• Employee’s Families
• Alumni
• Customers
• Suppliers
• Shareholders
• The Community

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