Editing Board of directors (section)

==Roles==
{{Business administration}}
Typical duties of boards of directors include:<ref>{{Cite web |last=McNamara |first=Carter |title=Overview of Roles and Responsibilities of Corporate Board of Directors |url=http://www.managementhelp.org/boards/brdrspon.htm |access-date=2008-01-26 |website=Free Management Library |publisher=Authenticity Consulting, LLC}}</ref><ref>{{Cite web |title=Basic Role of the Board |url=http://www.iog.ca/boardgovernance/html/gov_the.html |archive-url=https://web.archive.org/web/20071230201729/http://www.iog.ca/boardgovernance/html/gov_the.html |archive-date=30 December 2007 |access-date=2008-01-27 |website=Governance Basics |publisher=Institute on Governance (Canada)}}</ref>
* Governing the organization by establishing broad policies and setting out strategic objectives
* Selecting, appointing, supporting, reviewing the performance, and terminating the [[chief executive]] (of which the titles vary from organization to organization; the chief executive may be titled chief executive officer, [[President (corporate title)|president]] or [[executive director]])
* Ensuring the availability of adequate financial resources
* Approving annual budgets
* Accounting to the [[Project stakeholder|stakeholder]]s for the organization's performance
* Setting the salaries, compensation, and benefits of senior management

The legal responsibilities of boards and board members vary with the nature of the organization, and between jurisdictions. For [[public corporations|companies with shares publicly listed for negotiation]], these responsibilities are typically much more rigorous and complex than for those of other types.

Typically, the board chooses one of its members to be the ''[[chairman]]'' (often now called the "chair" or "chairperson"), who holds whatever title is specified in the [[by-law]]s or [[articles of association]]. However, in membership organizations, the members elect the president of the organization and the president becomes the board chair, unless the by-laws say otherwise.{{sfn|Robert|2011|p=484}}