A board of directors is a group of people who manage strategic planning and take decisions according to the company’s mission as well as its vision, mission and values. The Board of Directors is responsible for balancing the interests of shareholders, maintain integrity and plan for the future of their organization.
An executive committee is a section of the board, which is responsible for urgent issues and acts as steering wheel for the board. It typically consists of the secretary, treasurer, vice-chairperson and chairperson. The chairperson is the leader of the committee and usually the CEO the vice-chairperson supports the chairman, serves as a replacement for them when they’re not present, and acts as a second-in command. The secretary keeps minutes, maintains the committee calendar and ensures everyone has access to important documents.
A small group is a form of an executive committee. They are more flexible and are able to meet with short notice to take decisions in urgent situations. This allows the entire board to concentrate on more significant issues in their regular meetings.
An executive committee may also handle a number of repetitive issues and act as a substitute for the organisation in situations where the entire board is not required to be present, for instance, standard legal or financial procedures. It is also a way to evaluate controversial ideas and determine how the organization handles them before making them available to the entire board. However, the committee shouldn’t be a second-tier power structure. It’s best to have clear delegated power as well as an internal set of checks and balances.
https://boardroomsupply.com/tips-to-organize-an-efficient-online-board-meeting/
