GOVERNING BOARDS Meaning and
Definition
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Governing boards, also known as governing bodies or boards of directors, are organizational entities responsible for the strategic direction and oversight of an institution, organization, or company. They are typically composed of a group of individuals who are entrusted with making important policy decisions, ensuring legal compliance, and representing the interests of stakeholders.
The primary role of governing boards is to set the mission, vision, and goals of the organization, and to establish the overall strategic direction. They develop policies and guidelines that guide the management and operations of the organization while ensuring that it operates in accordance with legal and ethical standards.
Governing boards also have the responsibility of appointing and evaluating the performance of the Chief Executive Officer (CEO) or executive team. They provide oversight and monitor the performance of these top-level executives, holding them accountable for achieving the organization's goals and objectives. Additionally, governing boards may have the authority to hire and supervise other key executives and managers.
These boards play a crucial role in ensuring that the organization operates in the best interest of its stakeholders, which may include shareholders, employees, customers, donors, or members. They engage in regular communication with stakeholders, providing transparency and accountability in decision-making processes. Governing boards also establish financial controls and monitor the organization's financial health, making informed decisions regarding financial strategies and budgets.
Overall, governing boards act as fiduciaries, making crucial decisions that shape the future of the organization, safeguarding its mission, and ensuring its long-term sustainability.
Common Misspellings for GOVERNING BOARDS
- foverning boards
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Etymology of GOVERNING BOARDS
The word "governing" originated from the Middle English word "governe" which came from Old French "governer" meaning "to rule, control, or administer". This Old French term ultimately derives from the Latin word "gubernare", meaning "to steer, guide, or direct a ship".
The word "boards" in this context refers to a group or body of people who make decisions or oversee the management of an organization, institution, or corporation. It stems from the Old English word "bord", which initially referred to a flat, rigid structure such as a plank or table.
Therefore, the etymology of "governing boards" suggests that it refers to a group or body of individuals responsible for ruling, controlling, or directing an organization, institution, or corporation.
