Boards can vary in structure and function depending on the type of organization (public, private, or nonprofit) and the jurisdiction’s regulations but the most common type of board is the 'board of directors'.

Board of directors

A board of directors serves as the governing body of a company or organization, providing oversight and strategic direction to ensure the organization meets its goals and obligations. One of the primary functions of the board is to establish and uphold the organization's mission, vision, and values. This involves setting long-term objectives, approving major policies, and making significant decisions that affect the organization's future.

Other types of boards are tailored to meet the specific needs and goals of an organization. Here are some other typical boards:

Advisory board

An advisory board is a group of individuals who provide non-binding strategic advice to an organization’s management. Unlike a board of directors, an advisory board does not have formal authority or fiduciary responsibilities. Here are some key roles and responsibilities of an advisory board:

• Stratigic guidance
• Expertise and knowledge
• Problem solving

Executive board

An executive board, also known as an executive committee, is a subset of the board of directors that focuses on overseeing the organization’s strategic planning and decision-making activities. Here are some key roles and responsibilities of an executive board:

• Strategic direction
• Financial oversight
• Personnel oversight

Working board

A working board is a type of board where members are actively involved in both the governance and the day-to-day operations of the organization. This is common in smaller organizations, startups, or nonprofits with limited staff. Here are some key roles and responsibilities of a working board:

• Strategic planning
• Operational involvement
• Resource management

Boards typically consist of a mix of internal members (such as executives) and external members (independent directors) who bring diverse perspectives and expertise. The size and structure of a board can vary depending on the organization’s size, type, and needs.

A well-functioning board is essential for the success and sustainability of an organization. It provides guidance, support, and oversight, helping to navigate challenges and seize opportunities.

• Board responsibilities
  

  The responsibilities of a board include providing strategic oversight, ensuring financial health, maintaining governance and compliance, and representing stakeholders’ interests.

• Board membership

  Board members are individuals elected or appointed to provide governance, strategic direction, and oversight to ensure the organization’s success and accountability.

• Board meetings

  Formal gatherings where board members discuss and make decisions on the organization’s strategic, financial, and operational matters are not typical meetings.

• Board management

  Organizing and coordinating the activities, meetings, and responsibilities of the board to ensure effective governance and strategic oversight is not an easy task.