Roles and Responsibilities
Of the QXMC Board of Directors
How the Board can make informed decisions
Notes taken from Roles and Responsibilities of Board of Directors of Aboriginal Economic Development Corporations: A Guidebook 1989
Here are some facts on how a Board of Directors make decisions to create these revenues: “A Board member’s main task is to make decisions. In order to make good ones, Board members should:
Ensure decisions support the mandate and objectives of the organization.
Feel comfortable with the decision-making system, which is in place whether it is by majority, two-thirds majority or consensus.
Ensure they have full information.
Resist making decisions until they understand the basis for the decision.
Receive a variety of data from a range of sources; including historical background, government policy, environmental impacts, socioeconomic implications as well as profit and loss statements, market trends etc.
Anticipate the consequences of their decisions
Use technical expertise and staff wisely in making informed decisions.
Take informed risks or chances where they can be as opportunities for growth.
When called upon to make ‘judgement calls’, understand that once they have considered as many aspects of the decision as possible, they may have to live with some degree of uncertainty
Stay informed about trends and developments so that quick decisions, when required, can be made in the most informed manner possible. In addition, when faced with urgent requirements for decision, Boards should ask the question ‘What is the worst that could happen if we did not make this decision urgently.’”
Notes taken from Development Corporation Basics – A workbook: Native Edition. West Coast series on Community Economic Development
Useful skills & Knowledge for Board Members
Running and Participating in Meetings
- How to chair a meeting successfully
- How to ensure all participate in decision-making
- How to participate fully in Board meetings
- How to ensure follow-up action is taken
- How to best analyze problems creatively
- How to develop useful optional solutions
- How to choose effectively amongst options
- Board member conflict
- Conflict between Board members and staff
- Conflict between Board members and community groups
- Conflict between Board members and other businesses, or agencies
- Understanding and using techniques of principled negotiations which allow both parties to get what they want
- Negotiating effectively with governments, lending agencies, and other businesses
Understanding General Economic
Trends & Analysis
- Understanding principles of economic trend analysis
- Applying trend analysis to development organization use
- Identifying and analyzing current and future trends that are important to the organization
- Developing organizational goals and mission statements
- Clarifying important organizational values
- Identifying key strategic issues
- Determining short and long range strategies
- Creating Action Plans
Analyzing Feasibility Studies
& Business Plans
- Understanding market analysis
- Understanding balance sheets, financial statements, cash flow and projections
- Understanding risk assessment
Principles of Project Management
- Understanding the project management cycle
- Evaluating and monitoring projects
Effective Use of Technical Expertise
- Identifying and selecting technical expertise
- Developing terms of reference for the use of technical expertise
- Evaluating the value of technical expertise