Answer to Question #283297 in Management for Ribasshni

Question

Board of directors play an essential role in ensuring a goal the company is able to meet. As such, the remuneration should be consistent with the Board's job description. This is to motivate the board to work harder, particularly with regard to effective planning and strategy. Board of Directors requested that it be possible to have better remuneration as the market is a complex and more work is needed. However, the Remuneration Committee does not agree with the Board's request to increase the remuneration. 

You are part of the board of directors which is less satisfied with respect to remuneration. You are responsible to come up with a remuneration proposition. However, the Remuneration Committee on behalf of the company does not agree with the Board's request. The Chief Executive Officer (CEO) has scheduled a special meeting between the Board of Directors and Remuneration Committee to discuss these issues.

1)Justify the job description and challenge faced by the board of directors.

Answer 1

The common challenges faced by new directors

• Figuring out exactly which skills you'll need.
• Finding your voice and becoming influential.
• Knowing when to talk and when to listen.