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CEOSTRA (‘si:eυ:‘strα)
NOUN (trademark) A company that specialises in working with established businesses that want to grow and develop.
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Non Executive Directors
Can my business benefit from a non executive director?
Non executive directors can provide fresh and independent insight in to business plans and strategy, and help to balance the attention between operational and strategic issues. They strengthen your management team, provide experience and knowledge at important points in your organisation’s development and provide a catalyst for business innovation.
Is this only for large businesses?
A number studies have highlighted the benefits that companies get from non executive directors. These benefits have been shown to be independent of the size of the business. Indeed some research has suggested that smaller organisations gain more benefit than large ones.
The advantages to your board from the use of non executive directors include:
- Make available knowledge and skills from other businesses and sectors.
- Help to develop effective business strategy.
- Provide fresh and objective thinking.
- Give confidence to shareholders and providers of loan capital.
- Review plans and policies.
- Coach and advise the chairman and CEO.
- Bringing wide experience to bear on your issues.
- Ask probing questions to clarify the implications of business decisions.
- Provide balance to your board.
If you would like to discuss any aspect of using a non executive director please telephone with your name and contact details to 01277 896452 or e-mail them to info@ceostra.com and we will call you back.