How to constitute a board of a successful company

Every successful company boasts of a well formulated and constituted board .The board functions must resonate with the overall company functions .Technology is one of the key aspects to be considered when formulating and constituting a board in today’s successful companies.In our series on planning for a successful company we take a closer look at the company board formulation and constitution .

3.5 Board members and their percentage stake in the company

1. David Martin Owor

2. Ochieng tholith Werekinindi

3. Lekuru Scovia

4. Anzoa Phionah

5. Chepkrui Joel

6. Bakole Yusuf

7. Mukasa Fred

8. Fr ssekamanya Denis

9. Olowo Vincent

10. Awor Margaret

The work of the board members of the company is divided according to key functional areas.These include;

3.51 Board member incharge of administration

Plans for company administration,makes projections for future administrative needs and makes a budget to cater for the administrative needs of the company. Drafts company policy on administration together with a selected technical team. Keeps an up to date record of all the company administrators.

Represents the board on every company administrators meetings within & outside the company.

Shall be a signatory on every company document as the general company manager/administrator.

Shall be the focal person for implementing all plans,projects and policies from other board members in the company. Researches and applies best management & administration practices in the company on behalf of the board.

Shall provide advise at board level on general direction to be taken by the company in all departments.

3.52 Board member in charge of religious affairs

Plans for company religious needs,makes projections for future religious needs and makes a budget to cater for the religious needs of the company.

Drafts company policy on religious affairs together with a selected team.

Keeps an up to date record of all company religious leaders and programs.

Represents the board on every company religious meetings within and outside the company.

Shall be a signatory to every company religious document.

Shall provide advise on religious matters at board level and shall provide general moral & spiritual guidance to other board members and company employees.

Shall be in charge of prayers at all company functions.

Shall be the focal person for implementing praise & worship,religious plans & projects in the company.

3.53 Board member incharge of human resources,salaries,allowances and bonuses.

Plans for the needed human resources,makes projections on future company human resources demands and makes a budget to cater for the human resource in the company.

Keeps an to date record of all the human resources,their salaries,allowances and bonuses.

Plans for company salaries,allowances & bonuses,makes projections for future salaries,allowances & bonuses and makes a budget for the salaries,allowances & bonuses of the company.

Drafts company policy on human resource recruitment,salaries,allowances & bonuses together with a select technical committee. Represents the board on every recruitment interview panel and on every salary,allowances & bonuses review committee.

Oversees the orientation & inculcation of new human resources into the company and ensures employees work in line with the company core values and policies.

Shall be a board signatory in every salary,allowances & bonuses release documents.

Carries out research and makes recommendations to the board on best salary,allowances & bonuses payment systems to be adopted by the company. Shall provide advice on salaries,allowances & bonuses at board level.

Shall oversee the design & production of company corporate wear for all human resource in the company.

Represents the board on the committee that oversees employee performance,discipline & conflict resolution.
3.54 Board member incharge of operations
Plans for needed capacity,machinery,facilities,equipment,costing & control,makes projections on future company operation needs and makes a budget to cater for the operation needs of the company.
Keeps an up to date record of all machinery,facilities & equipment in the company.
Represents the board on key meetings regarding company operations within & outside of the company.
Drafts company policy on production,technical works & quality control together with a selected technical team.
Shall oversee the architectural design & plan of company departments & recommends necessary changes.
Shall represent the board on any committee on contracts for works to be performed for the company & ensure that work done is according to the required standards.
3.55 Board member in charge of investments
Plans for the needed investments ,makes projections on future company investments and makes a budget to cater for the investment needs of the company.
Drafts company policy on investment together with a selected technical committee.
Represents the board on every investment committee meetings within & outside the company.
Keeps an up to date record of all the present & upcoming company investments,value of investments and expected return on investment of each investment.
Shall oversee the implementation of all company investments & manage the road map for execution of such projects clearly indicating when each implementer is to be involved.
Shall secure funding for the approved company investment projects either from within the company or outside sources.
Shall be the board signatory to any loans secured from banks or any other organizations for financing of investment projects in the company.
5.56 Board member in charge of finance Shall be a signatory to any loans secured from banks or any other organization for financing of other company projects other than investments.
Plans for the needed finances,makes projections on future financial needs of the company and makes a budget to cater for the present & upcoming finance needs of the company.
Keeps an up to date record of all the present & upcoming finances released for different company programs and projects. Drafts the financial policy of the company together with a selected technical team. Represents the board on every company finance meetings within & outside the company.
Shall perform the audit of all the relevant departments and provide audit reports to the board.
Shall approve the budgets and releasing of budgets to all departments,organizations & individuals.
3.57 Board member in charge of marketing
Plans for product market,makes projections for future markets and makes a budget to cater for the market needs of the company. Drafts company policy on marketing together with a selected technical team. Keeps an up to date record of all the present & upcoming potential markets for company products.
Represents the board on every marketing meetings within & outside the company. Shall research on areas of company product branding & designs.
Shall provide advice on marketing of company products at board level.
3.58 Board member in charge of technology
Plans for needed technology advancements,makes projections for future technological needs and makes a budget to cater for the future technological needs of the company.
Drafts company policy on technology together with a selected technical team. Keeps an up to date record of all the present & upcoming technological gadgets for company operation.
Represents the board on every technological engagement within & outside the company.
Shall research and make recommendations to the board on the latest relevant technological advancement that the company needs to adopt.
Shall provide advice on technology use in the company at board level. 
3.59 Board member in charge of stocks and shares
Plans for company stocks & shares,makes projections for future stocks & shares and makes a budget for the stocks & shares needs of the company.
Shall be responsible for listing the company in different stock exchange markets & selling company shares when need arises. Drafts company policy on managing stocks & shares in the company together with a selected technical team.
Keeps an up to date record of all the present & upcoming stock & shareholders in the company.
Shall carryout research and make recommendations to the board on best path regarding stocks & shares. 
Shall provide advice on stocks & shares of the company at board level.
3.6 Board investment in terms of shares expressed as a percentage 
1. David Martin Owor ……………………60%…………………………..
2. Ochieng Tholith Werekinindi ………………………5%………………………..
3. Lekuru Scovia ………………………3%………………………..
4. Anzoa Phionah ………………………5%……………………….
5. Chepkrui Joel ……………………10%…………………………..
6. Bakole Yusuf ……………………10%…………………………..
7. Mukasa Fred ………………………5%………………………..
8. Fr ssekamanya Denis …………………… 0%……………………………
9. Olowo Vincent ……………………0%…………………………..
10. Awor Margaret ……………………2%…………………………
 
Company board meeting

For more on business plans , company constitution, company policy manual,human resource manual, company investments, research proposals, rewarding startups,investment plans and others log on to https://www.dmovinesolutions.com

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