Owners Job Description
It is the owners responsibility to elect directors, and through their choice of directors, they exert their major influence on the company. Owners shall establish the values, vision, and goals that will guide the business and shall communicate these clearly and passionately to management and to the board of directors. The duty of ownership is to assure excellent governance, not only in their choice of directors but also in establishing a mechanism through which family ownership matters can be discussed and resolved.
It is also ownership's duty to encourage or initiate the development of policies to guide the business and family in their relationship with each other. The owners shall work as partners with management and the board of directors, endorsing and supporting strategy and monitoring the business to assure that it reflects the values, vision, and goals that the owners have set forth. The owners shall regularly communicate with management, not only about financial progress but also about such matters as the business's role in the community and how it exemplifies the owners' values and goals.
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