5.1 Board Of Directors-Names And Qualifications

Decent Essays

5.0 Management Plan
The initial management team will comprise of only a few members, as we grow, we will take on additional help in certain key areas. Part of our basic philosophy will be to run our executive management through a small board of directors (Armstrong et al., 2014). We will not add additional directors until absolutely necessary. This will mean that the initial management team will have to work extra. By doing this, we will keep our overhead as low as possible, allowing us to adequately staff our outlets. This will also allow us to recoup investments as quickly as possible and enjoy a higher return.
5.1 Board of Directors - Names and Qualifications
The board of directors will bear the ultimate authority and accountability for …show more content…

He has demonstrated success as a business company board member and exhibited a track record of building credibility in the fund oversight (Decker, 2016). Additionally, he will have adequate finance and accounting experience (Decker, 2016).
Vice chair of the Board
The vice chair will act as a representative of chairman in case of absentia. More so, he will take a major role in decision making since he will be a confidant to the chairperson. As such, the qualifications will largely borrow from those of the chairperson (Armstrong et al., 2014). Hence, he must exhibit relevant industry experience from working as a board member from similar company; in addition, he must have strategic and problem-solving skills, and strong interpersonal and negotiation skills (Decker, 2016).
The secretary of the board will be in charge of documentation and communications of the board. Therefore, he will be responsible for timely communication of meeting and record keeping of the board meetings and delegations (Cronin-Gilmore, 2012).
Among the major qualifications includes; Savvy diplomatic skills and a natural affinity for cultivating relationships and persuading, convening, facilitating, and building consensus among diverse individuals (Cronin-Gilmore, 2012). Excellent written and oral communication skills coupled with natural affinity for

Get Access
Get Access