A successful board member takes their role seriously, and makes a meaningful contribution. They must be able make difficult decisions, think strategically, and keep the bigger picture in mind while contributing top article a unique perspective from their personal experience. A good board of directors can help the organization achieve its goals and mission by providing direction and oversight. They will have a strong desire to see the company succeed, and are not scared to speak their mind.

While having a large number of connections is crucial for organizations however, they should also focus on attracting people who are passionate about the cause and willing to commit their time. It is also essential to ensure that your board members have the required skills. According to Institutional Shareholder Services the boards of Enron and Kmart and the troubled retailer Warnaco had a range of financial competencies and expertise. They included former Stanford deans and accounting professors as well as a well-known Asian financier and the former head the U.S. Government’s Commodity Futures Trading Commission. However, these credentials weren’t enough to stop the companies from falling.

Additionally, regular attendance at meetings is frequently thought to be a sign of shrewd board members. As Stanford GSB adjunct faculty of corporate governance Nell Minow explains, this measure does not differentiate between boards that are good and bad. Attendance records for the boards of GE and WorldCom (which were both listed on Fortune’s 2001 list as the most-admired companies) reveal little distinction.