Does Your Board Know Its Role?

Business meeting with people around table facing forward4 questions for review.

By Steven E. Sacks

The purpose behind an organization creating a board is not to micromanage, design a company logo or address human resource issues. Neither is its role to sit around and smoke Cohiba Esplendido cigars and sip Louis XIII de Remy Martin Grande cognac.

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This glad-handing, back-slapping culture led to the financial breakdowns in the early 2000s and probably still is happening at this writing.