Essay about Refresh Organics - Harvard Case

The Board of Directors consisted primarily of Gerry Wiegert, John Pope, and Barry Rosengrant. Gerry was the President, so it was typical for him to be a part of the board. John Pope was a financial consultant; therefore, he was adequate to be the financially literate person on the board. Barry was in real estate, but he was a consultant of Vector Car which gave him some knowledge of the company. Dan Harnett and George Fencl were also a part of the board for some point of time; they also had adequate knowledge to be capable additions to the board with their knowledge of law and

The aggressive board challenges by Biglari have resulted in defensive moves by the current directors. Biglari has been vocal in his attempt to leverage his 10% stake in the company and desire to join the board of directors. In reaction to this move the board of directors has appointed additional like-minded directors to help move the company forward into an

However, the process was unstructured: there were no annual terms for the board members and no formal election process. Bob and Rex should have put in contractual agreements with the board members, which defined their roles and responsibilities on the board. Additionally, they should have put in performance based incentive plans for the board members to further incentivize them. Furthermore, a formal selection plan should have been drafted to select the board in future: how many members, their expertise, tenure, etc. This plan would have been very useful if someone on the board decided to leave or if they would have wanted to add a new

Although each member has specific role, they all are strategically aligned. The CEO role is to manage the entire company. With this function, the CEO is much involved in succession planning for the company. The board of director’s role is assist with any decision making for the company. Mlot and Sorensen (2013) mentions that five board members provide practical advice to HR organizations regarding succession planning. Human resource role is recruiting and developing talent. With this function, human resource plays a critical role in selecting and developing talent for succession

In summary, effective and well-functioning boards are designed consciously by employing High-Impact Governing strategies that counteract the issues associated with faulty governing models. Foundationally, a mission statement provides a basis for understanding the board’s purpose, function, and objectives. If left to its own devices, these boards tend to underperform, remain in a state of stagnation, and have a counter-productive partnership with the COE, hence Eadie’s methods strengthen governance which encourages a sense of purpose, functionality, and camaraderie.

The Board of Directors was proposed due to the lack of stability the faction was experiencing at the time. Vanille A

Describe the role of the Board of Directors in comparison to the role of the Executive Director. What is expected of each, who is in charge of what and in what

Coyle (2014) notes that the composition of the Board of Directors is dependent on the size of the company. The board is normally composed of a chairman, the Chief Executive Officer, a Senior Independent Director, executive directors and non-executive directors (NEDs).

Therefore, the Board is neither directly accountable to any other body, nor is it under obligation to report to any other authority for its activities and performance. This existing hierarchy creates problem in delegating the duties for the Managing Director, CEO of Biman.

The results found in this study suggest that some of the relationships found during the literature review can be confirmed. For example, the literature states that smaller boards of directors reduce the coordination problems that lead to improved firm performance relative to larger boards of directors (Kini et al, 1995; Yermack, 1996; Eisenberg et al, 1998). This study found significant empirical evidence with the sample of FTSE 100 companies that this is the case which supports these findings. It should be noted, that Haleblian and Finkelstein (1993) suggested sensibly that boards of directors that are too small can also be hampered in their ability to monitor management particularly in complex firms such as those

All of this is very unhealthy for the Board, directors, and the company. Best practices require the Board to provide independent assessment and

Q4. Hample (1998) and Higgs (2003) discussed about importance of independent non-executive directors, they recommended board should comprise with at least 50% independent nom executive directors. Author also motivated from de andress et al. (2005), the association between firm

A director’s opinions are usually tied to the personality, background and values of the board of directors. These opinions are useful in creating a road map for change.

Yermack, 1996). This article argues against the findings of Jensen (1993) and Lipton and Lorsch (1992), which stated that larger boards have a negative effect on firm value; in fact the study suggests that having a large diverse board enables the firm to have more experience and expertise to contribute to firm value and boost firm performance.

This was caused by the lack of economic expertise in the board and this is what I bring with me. The knowledge to be able to cope with the changes in prices of items in the economy and turn profits out of it.