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A board of directors is a group of individuals who supervise strategic planning and decision-making according to the organization’s goals, vision, mission, and values. The board is responsible for balancing shareholder interests as well as maintaining integrity and making plans for the future of the business.

An executive committee is a section of the board which handles urgent matters and functions as a steering wheel for board. It is typically comprised of three members: a vice-chairperson, a chairperson secretary and treasurer. The chairperson is the head of the committee and usually the CEO The vice-chairperson assists the chairman, serves as a replacement for them when they’re absent and acts as an assistant-in-command. The secretary keeps minutes, maintains the calendar of committee members and ensures that all members have access important documents.

By design the executive committee is a smaller group. They are more flexible and able to be able to meet with short notice in order to take decisions in an emergency situation. This allows the whole board to concentrate on more important issues in their why not try here periodic meetings.

An executive committee can also handle a number of repetitive issues and act as an alternative to the organization in instances where the entire board is not required to be present, like standard legal or financial procedures. It is also a way to test controversial ideas and observe how the organization reacts to them before bringing it before the board. However, the committee shouldn’t be considered a second-tier power structure. It’s best to have clear delegation of power as well as an internal set of checks and balances.