Conclusion

We have identified how the function of the board of directors and the qualities of the directors on the board need to change reflect the dynamic relationship between the shareholders and the board. All companies need dynamic boards of directors in order to prosper and endure. This is the heart of good governance. It affects all companies, all the people who work for them and the communities in which they are based. This responsibility makes being a director on a board an onerous position to hold and the planning of the role and composition of the board of directors a key activity.