You have already developed and described a strategy for the development of your business. Now it’s time to calculate everything in detail. Step-by-step instructions will help you with this: how to choose the board portal?
The Meaning of the Board Portal
There are several key threats that are closely related to the digitalization of business: phishing, hacking, and complicating legal regulation. These threats can be addressed with staff training, a sound cybersecurity approach, and timely consultation with the right experts. Boards of directors are very complex social structures exercising a huge amount of diverse powers. And today it is becoming more and more difficult to be an effective member of the Council.
The board portals are based on foreign experience, successful practice in company management, understanding of corporate governance features, and vision of business development prospects. Due to its intensive nature, non-profit activities provide a “concentrated” business experience: in a couple of years, you acquire an impressive store of knowledge and skills. This is useful if you haven’t chosen your destination yet. And even if you have made up your mind, the empathy you will inevitably learn will make you a more effective team player. The portal is focused on:
- owners, members of the board of directors, corporate directors;
- heads of corporate governance units;
- corporate secretaries, corporate governance specialists.
The Main Principles of Using the Board Portal
A board portal is a professional community of specialists in the field of corporate governance, founded in order to create values and prospects for the development of corporate governance, strengthen the image of the profession of a corporate secretary, create a gold standard for education and professional skills of a corporate secretary, provide members of the professional community with comprehensive support, conditions for their professional and career growth.
The principles on which the board portal is based:
- Protecting the rights of shareholders;
- Ensuring fair treatment of all shareholders, regardless of the number of shares they own;
- Recognizing stakeholder rights and encouraging collaboration between the company and stakeholders;
- Ensuring timely and accurate disclosure of information on all matters related to the company, including financial condition, performance, ownership, and management of the company;
- Assistance in the strategic management of the company, control over the activities of the Board of Directors, and its reporting to the company and shareholders.
What Are the Key Features of the Board Portal?
The board portal can target internal or external audiences. Externally oriented plans are aimed at a result that is important to external stakeholders, in particular financial stakeholders. Typically, they contain detailed information about the organization or team that is trying to achieve the goals. In the case of commercial organizations, external stakeholders include investors and customers.
External stakeholders for board portal organizations include donors and clients of non-profit authoring services. For government agencies, external stakeholders include taxpayers, higher-level government agencies, and international lending institutions. Its essence is to briefly, convincingly, and clearly inform interested parties about the main provisions of the proposed project, in particular, about the goals of the project, its uniqueness; the amount of funding required.
Among the key features of the board portal are:
- Provides loans and advises governments in middle-income developing countries.
- Promotes sustainable private investment in developing countries, reduces poverty, and improves people’s lives.
- Provides concessional financing and advises governments in the poorest countries.
- Provides legal space for conciliation and arbitration in international investment disputes of political risk insurance.