   
The
January 2010 edition of the International
Association of Potential, New and Sitting Members of the Board of
Directors (IAMBD)
newsletter
Dear Members,
I
want to extend my best wishes for a safe, prosperous and blessed
year to all. I do hope that you will transform the difficulties
around into opportunities.
Today we will start our discussion from the proposed rule
(Securities and Exchange Commission):
FACILITATING SHAREHOLDER DIRECTOR NOMINATIONS
The Commission is proposing rule amendments that would
provide shareholders with a meaningful
ability to exercise their state law rights to nominate the
directors of the companies that they own.
Under the proposal,
shareholders who otherwise are provided the opportunity to
nominate directors at a shareholder meeting would be able to have
their nominees included in the company proxy ballot that is sent
to all voters.
Shareholders would also
have the ability to use shareholder
proposals to modify the company's nomination procedures or
disclosure about elections, so long as those proposals do not
conflict with state law or Commission rules.
Which shareholders would be able to have their nominees included
in the proxy materials?
Shareholders would be eligible to have their nominee included in
the proxy materials if:
They own at least 1 percent of the voting
securities of a "large accelerated filer" (a company with a
worldwide market value of $700 million or more) or of a registered
investment company with net assets of $700 million or more.
They own at least 3 percent of the voting
securities of an "accelerated filer" (a company with a worldwide
market value of $75 million or more but less than $700 million),
or of a registered investment company with net assets of $75
million or more but less than $700 million.
They own at least 5 percent of the voting securities of a
non-accelerated filer (a company with a worldwide market value of
less than $75 million) or of a registered investment company with
net assets of less than $75 million.
Shareholders would be able to aggregate
holdings to meet applicable thresholds.
Shareholders would be required to have held their shares for
at least one year.
Shareholders would be required to sign a
statement declaring their intent to continue to own their shares
through the annual meeting at which directors are elected.
Shareholders would be required to certify
that they are not holding their stock for the purpose of changing
control of the company, or to gain more than minority
representation on the board of directors.
What requirements would a shareholder's nominee be required to
meet to be nominated?
The nominee's candidacy or, if elected, board membership
must not violate applicable laws and
regulations.
The nominee must satisfy objective independence standards of the
applicable national securities exchange or national securities
association.
The nominating shareholder may have no
direct or indirect agreement with the company regarding the
nomination of the nominee.
How many board nominees for director would a shareholder be able
to include in company proxy materials?
No more than one shareholder nominee, or a number of nominees that
represents up to 25 percent of the company's board of directors,
whichever is greater.
(For
example, if the board is comprised of three members, one
shareholder nominee could be included in the proxy materials. If
the board is comprised of eight members, up to two shareholder
nominees could be included in the proxy materials.)
What would have to be disclosed about nominating shareholders and
their nominees?
The nominating shareholder would be required to file with the
Commission and submit to the company a new Schedule 14N.
The Schedule 14N would require disclosure of the amount and
percentage of securities owned by the nominating shareholder, the
length of ownership, and intent to continue to hold the securities
through the date of the meeting.
The Schedule 14N would require a certification that the nominating
shareholder is not seeking to change the control of the company or
to gain more than minority representation on the board of
directors.
The company would include in its proxy
materials disclosure concerning the nominating shareholder, as
well as the shareholder nominee or nominees, that is similar to
the disclosure currently required in a contested election.
Would the nominating shareholder be liable for information
provided to the company?
As is the case when directors nominate candidates, the nominating
shareholder or group would be liable for any false or misleading
statements in information provided to the company that is then
included in the company's proxy materials.
The proposed rule would provide that the company will not be
responsible for information provided by the shareholder, unless
the company knows or has reason to know the information is false.
Allowing Shareholders Proposals:
Amended Exchange Act Rule 14a-8(i)(8) - shareholders could require
companies, under certain circumstances, to include proposals in
their proxy materials that would amend, or request an amendment
to, the company's governing documents to address the company's
nomination procedures or other director nomination disclosure
provisions that do not conflict with the Commission's rules.
Currently, Exchange Act Rule 14a-8(i)(8) permits companies to
exclude shareholder proposals that "relate to an election."
Under the proposal, this so-called "election exclusion" would be
narrowed, thereby allowing in the proxy materials more shareholder
proposals regarding elections.
Specifically, shareholder proposals by qualifying shareholders
that would amend, or that request an amendment to, provisions of a
company's governing documents concerning the company's nomination
procedures or other director nomination disclosure provisions (so
long as those disclosure provisions don't conflict with proposed
Rule 14a-11 above) would not be excludable.
I visited a bookstore full of old and rare books the week before
the New Year. I have found a great book, and I want to share with
you some interesting paragraphs.
THE PSYCHOLOGY OF MANAGEMENT
The Function of the Mind in Determining, Teaching and Installing
Methods of Least Waste
BY L.M. GILBRETH, PH.D. - New York, THE MACMILLAN COMPANY, 1921
The Psychology of Management, as here used, means,
the effect of the mind that is directing
work upon that work which is directed, and the effect of this
undirected and directed work upon the mind of the worker.
Importance of the Subject. Before
defining the terms that will be used more in detail, and outlining
the method of treatment to be followed, it is well to consider the
importance of the subject matter of this book, for upon the
reader's interest in the subject, and his desire, from the outset,
to follow what is said, and to respond to it, rests a large part
of the value of this book.
Value of Psychology. First of all,
then, what is there in the subject of
psychology to demand the attention of the manager?
Psychology, in the popular phrase, is "the
study of the mind."
It has for years been included in the training of all teachers,
and has been one of the first steps for the student of philosophy;
but it has not, usually, been included among the studies of the
young scientific or engineering student, or of any students in
other lines than Philosophy and Education.
This, not because its value as a "culture
subject" was not understood, but because the course of the
average student is so crowded with technical preparation necessary
to his life work, and because the practical value of psychology
has not been recognized.
It is well recognized that the teacher must understand the working
of the mind in order best to impart his information in that way
that will enable the student to grasp it most readily.
It was not recognized that every man going out into the world
needs all the knowledge that he can get as to the working of the
human mind in order not only to give but to receive information
with the least waste and expenditure of energy, nor was it
recognized that in the industrial, as well as the academic world,
almost every man is a teacher.
Value of Management. The second question
demanding attention is; Of what value is the study of
management?
The study of management has been omitted from the student's
training until comparatively recently, for a very different reason
than was psychology.
It was never doubted that a knowledge of management would be of
great value to anyone and everyone, and many were the queer
schemes for obtaining that knowledge after graduation.
It was doubted that management could be studied otherwise than by
observation and practice.
Few teachers, if any, believed in the existence, or possibility,
of a teaching science of management.
Management was assumed by many to be an art, by even more it was
thought to be a divinely bestowed gift or talent, rather than an
acquired accomplishment.
It was common belief that one could learn to manage only by going
out on the work and watching other managers, or by trying to
manage, and not by studying about management in a class room or in
a text book; that watching a good manager might help one, but no
one could hope really to succeed who had not "the knack born in
him."
With the advent of "Scientific Management,"
and its demonstration that the best management is founded on laws
that have been determined, and can be taught, the study of
management in the class room as well as on the work became
possible and actual.
Value of Psychology of Management. Third,
we must consider the value of the study of the psychology of
management.
This question, like the one that precedes it, is answered by
Scientific Management.
It has demonstrated that the emphasis in successful management
lies on the man, not on the work; that efficiency is best secured
by placing the emphasis on the man, and modifying the equipment,
materials and methods to make the most of the man. It has,
further, recognized that the man's mind is a controlling factor in
his efficiency, and has, by teaching, enabled the man to make the
most of his powers.
In order to understand this teaching element that is such a large
part of management, a knowledge of psychology is imperative; and
this study of psychology, as it applies to the work of the manager
or the managed, is exactly what the "psychology of management" is.
Five Indications of This Value. In order
to realize the importance of the psychology of management it is
necessary to consider the following five points:
1. Management is a life study of every man
who works with other men. He must either manage, or be managed, or
both; in any case, he can never work to best advantage until he
understands both the psychological and managerial laws by which he
governs or is governed.
2. A knowledge of the underlying laws of management is the most
important asset that one can carry with him into his life work,
even though he will never manage any but himself. It is useful,
practical, commercially valuable.
3. This knowledge is to be had now. The men who have it are ready
and glad to impart it to all who are interested and who will pass
it on.5 The text books are at hand now. The opportunities for
practical experience in Scientific Management will meet all
demands as fast as they are made.
4. The psychology of, that is, the mind's place in management is
only one part, element or variable of management; one of numerous,
almost numberless, variables.
5. It is a division well fitted to occupy the attention of the
beginner, as well as the more experienced, because it is a most
excellent place to start the study of management. A careful study
of the relations of psychology to management should develop in the
student a method of attack in learning his selected life work that
should help him to grasp quickly the orderly array of facts that
the other variables, as treated by the great managers, bring to
him.
Purpose of This Book. It is scarcely necessary to mention that
this book can hope to do little more than arouse an interest in
the subject and point the way to the detailed books where such an
interest can be more deeply aroused and more fully satisfied.
What This Book Will Not Do. It is
not the purpose of this book to give an exhaustive treatment of
psychology.
Neither is it possible in this book to attempt to give a detailed
account of management in general, or of the Taylor plan of
"Scientific Management" so-called, in particular.
All of the literature on the subject has been carefully studied
and reviewed for the purpose of writing this book, not only what
is in print, but considerable that is as yet in manuscript.
No statement has been made that is not along the line of the
accepted thought and standardized practice of the authorities. The
foot notes have been prepared with great care.
By reading the references there given one can verify statements in
the text, and can also, if he desires, inform himself at length on
any branch of the subject that especially interests him.
What This Book Will Do. This book
aims not so much to instruct as to arouse an interest in its
subject, and to point the way whence instruction comes. If it can
serve as an introduction to psychology and to management, can
suggest the relation of these two fields of inquiries and can
ultimately enroll its readers as investigators in a resultant
great field of inquiry, it will have accomplished its aim.
Definition of Management. To discuss this subject more in detail
First: What is "Management"?
"Management," as defined by the Century
Dictionary, is "the art of managing by direction or regulation."
Successful management of the old type was an art based on no
measurement. Scientific Management is an art based upon a science,
upon laws deducted from measurement.
Management continues to be what it has always been, the art of
directing activity.
Change in the Accepted Meaning.
"Management," until recent years, and the emphasis placed on
Scientific Management was undoubtedly associated, in the average
mind, with the managing part of the organization only, neglecting
that vital part the best interests of the managed, almost
entirely.
Since we have come to realize that management signifies the
relationship between the managing and the managed in doing work, a
new realization of its importance has come about.
Inadequacy of the Terms Used. It is
unfortunate that the English language is so poor in synonyms in
this field that the same word must have two such different and
conflicting meanings, for, though the new definition of management
be accepted, the "Fringe" of associations that belong to the old
are apt to remain.
The thoughts of "knack, aptitude, tact, adroitness," not to
speak of the less desirable "Brute Force," "shrewdness, subtlety,
cunning, artifice, deceit, duplicity," of the older idea of
management remain in the background of the mind and make it
difficult, even when one is convinced that management is a
science, to think and act as if it were.
It must be noticed and constantly remembered that one of the
greatest difficulties to overcome in studying management and its
development is the meaning of the terms used.
It is most unfortunate that the new ideas have been forced to
content themselves with old forms as best they may.
Psychological Interest of the Terms.
Psychology could ask no more interesting subject than a
study of the mental processes that lie back of many of these
terms.
It is most unfortunate for the obtaining of clearness, that new
terms were not invented for the new ideas.
There is, however, an excellent reason for using the old terms. By
their use it is emphasized that the new thought is a logical
outgrowth of the old, and experience has proved that this close
relationship to established ideas is a powerful argument for the
new science; but such terms as "task," "foreman," "speed boss,"
"piece-rate" and "bonus," as used in the science of management,
suffer from misunderstanding caused by old and now false
associations.
Furthermore, in order to compare old and new interpretations of
the ideas of management, the older terms of management should have
their traditional meanings only.
The two sets of meanings are a source of endless confusion,
unwarranted prejudice, and worse. This is well recognized by the
authorities on Management.
The Three Types of Management. We
note this inadequacy of terms again when we discuss the various
types of Management.
We may divide all management into three types
(1) Traditional
(2) Transitory
(3) Scientific, or measured functional.
Traditional Management, the first, has been variously called
"Military," "Driver," the "Marquis of Queensberry type,"
"Initiative and Incentive Management," as well as "Traditional"
management.
Definition of the First Type. In
the first type, the power of managing lies, theoretically at
least, in the hands of one man, a capable "all-around" manager.
The line of authority and of responsibility is clear, fixed and
single. Each man comes in direct contact with but one man above
him. A man may or may not manage more than one man beneath him,
but, however this may be, he is managed by but one man above him.
Preferable Name for the First Type.
The names "Traditional," or "Initiative and Incentive," are the
preferable titles for this form of management. It is true they
lack in specificness, but the other names, while aiming to be
descriptive, really emphasize one feature only, and in some cases
with unfortunate results.
The Name "Military" Inadvisable.
The direct line of authority suggested the name "Military," and at
the time of the adoption of that name it was probably appropriate
as well as complimentary.
Appropriate in the respect referred to only, for the old type of
management varied so widely in its manifestations that the
comparison to the procedure of the Army was most inaccurate.
"Military" has always been a synonym for "systematized",
"orderly," "definite," while the old type of management was more
often quite the opposite of the meaning of all these terms.
The term "Military Management" though often used in an
uncomplimentary sense would, today, if understood, be more
complimentary than ever it was in the past. The introduction of
various features of Scientific Management into the Army and Navy,
and such features are being incorporated steadily and
constantly, is raising the standard of management there to a
high degree.
This but renders the name "Military" Management for the old type
more inaccurate and misleading.
It is plain that the stirring associations of the word "military"
make its use for the old type, by advocates of the old type, a
weapon against Scientific Management that only the careful thinker
can turn aside.
The Names "Driver" and "Marquis of
Queensberry" Unfortunate. The name "Driver" suggests an
opposition between the managers and the men, an opposition which
the term "Marquis of Queensberry" emphasizes.
This term "Marquis of Queensberry" has been given to that
management which is thought of as a mental and physical contest,
waged "according to the rules of the game."
These two names are most valuable pictorially, or in furnishing
oratorical material. They are constant reminders of the constant
desire of the managers to get all the work that is possible out of
the men, but they are scarcely descriptive in any satisfactory
sense, and the visions they summon, while they are perhaps
definite, are certainly, for the inexperienced in management,
inaccurate.
In other words, they usually lead to imagination rather than to
perception.
The Name "Initiative and Incentive"
Authoritative. The term "Initiative and Incentive" is
used by Dr. Taylor, and is fully described by him. 11 The words
themselves suggest, truly, that he gives the old form of
management its due.
He does more than this. He points out in his definition of the
terms the likenesses between the old and new forms.
The Name "Traditional" Brief and
Descriptive. The only excuses for the term "Traditional,"
since Dr. Taylor's term is available, are its brevity and its
descriptiveness.
The fact that it is indefinite is really no fault in it, as the
subject it describes is equally indefinite. The "fringe" of this
word is especially good. It calls up ideas of information handed
down from generation to generation orally, the only way of
teaching under the old type of management.
It recalls the idea of the inaccurate perpetuation of unthinking
custom, and the "myth" element always present in tradition,
again undeniable accusations against the old type of management.
The fundamental idea of the tradition, that it is oral, is the
essence of the difference of the old type of management from
science, or even system, which must be written.
It is not necessary to make more definite here the content of this
oldest type of management, rather being satisfied with the extent,
and accepting for working use the name "Traditional" with the
generally accepted definition of that name.
Definition of the Second Type of Management.
The second type of management is called "Interim" or
"Transitory" management.
It includes all management that is consciously passing into
Scientific Management and embraces all stages, from management
that has incorporated one scientifically derived principle, to
management that has adopted all but one such principle.
Preferable Name for Second Type of
Management. Perhaps the name "Transitory" is slightly
preferable in that, though the element of temporariness is present
in both words, it is more strongly emphasized in the latter.
The usual habit of associating with it the ideas of "fleeting,
evanescent, ephemeral, momentary, short-lived," may have an
influence on hastening the completion of the installing of
Scientific Management.
Definition of the Third Type of Management.
The third form of management is called "Ultimate,"
"measured Functional," or "Scientific," management, and might also
be called, but for the objection of Dr. Taylor, the "Taylor Plan
of Management."
This differs from the first two types mentioned in that it is a
definite plan of management synthesized from scientific analysis
of the data of management. In other words, Scientific Management
is that management which is a science, i.e., which operates
according to known, formulated, and applied laws.
Preferable Name of the Third Type of
Management. The name "Ultimate" has, especially to the
person operating under the transitory stage, all the charm and
inspiration of a goal.
It has all the incentives to accomplishment of a clearly
circumscribed task. Its very definiteness makes it seem possible
of attainment.
It is a great satisfaction to one who, during a lifetime of
managing effort, has tried one offered improvement after another
to be convinced that he has found the right road at last. The name
is, perhaps, of greatest value in attracting the attention of the
uninformed and, as the possibilities of the subject can fulfill
the most exacting demands, the attention once secured can be held.
The name "measured functional" is the most
descriptive, but demands the most explanation.
The principle of functionalization is one of the underlying,
fundamental principles of Scientific Management. It is not as
necessary to stop to define it here, as it is necessary to discuss
the definition, the principle, and the underlying psychology, at
length later.
The name "scientific" while in some respects not as appropriate as
are any of the other names, has already received the stamp of
popular approval. In derivation it is beyond criticism.
It also describes exactly, as has been said, the difference
between the older forms of management and the new.
Even its "fringe" of association is, or at least was when first
used, all that could be desired; but the name is, unfortunately,
occasionally used indiscriminately for any sort of system and for
schemes of operation that are not based on time study. It has
gradually become identified more or less closely with
1. the Taylor Plan of Management
2. what we have defined as the "Transitory" plan of management
3. management which not only is not striving to be scientific, but
which confounds "science" with "system."
Both its advocates and opponents have been guilty of misuse of the
word. Still, in spite of this, the very fact that the word has had
a wide use, that it has become habitual to think of the new type
of management as "Scientific," makes its choice advisable.
We shall use it, but restrict its content.
With us "Scientific Management" is used to mean the complete
Taylor plan of management, with no modifications and no
deviations.
We may summarize by saying that:
1. the popular name is Scientific Management,
2. the inspiring name is Ultimate management,
3. the descriptive name is measured Functional management,
4. the distinctive name is the Taylor Plan of Management.
For the purpose of this book, Scientific Management is, then, the
most appropriate name. Through its use, the reader is enabled to
utilize all his associations, and through his study he is able to
restrict and order the content of the term.
Relationship Between the Three Types of
Management. From the foregoing definitions and
descriptions it will be clear that the three types of management
are closely related. Three of the names given bring out this
relationship most clearly.
These are Traditional (i.e., Primitive), Interim, and Ultimate.
These show, also, that the relationship is genetic, i.e., that the
second form grows out of the first, but passes through to the
third.
The growth is evolutional.
Under the first type, or in the first stage of management, the
laws or principles underlying right management are usually
unknown, hence disregarded.
In the second stage, the laws are known and installed as fast as
functional foremen can be taught their new duties and the
resistances of human nature can be overcome.
In the third stage the managing is operated
in accordance with the recognized laws of management.
Psychological Significance of This
Relationship. The importance of the knowledge and of the
desire for it can scarcely be overestimated. This again makes
plain the value of the psychological study of management.
Possible Psychological Studies of
Management. In making this psychological study of
management, it would be possible to take up the three types as
defined above, separately and in order, and to discuss the place
of the mind in each, at length; but such a method would not only
result in needless repetition, but also in most difficult
comparisons when final results were to be deduced and formulated.
It would, again, be possible to take up the various elements or
divisions of psychological study as determined by a consensus of
psychologists, and to illustrate each in turn from the three types
of management; but the results from any such method would be apt
to seem unrelated and impractical, i.e., it would be a lengthy
process to get results that would be of immediate, practical use
in managing.
Plan of Psychological Study Used Here.
It has, therefore, seemed best to base the discussion that is to
follow upon arbitrary divisions of scientific management, that is
1. To enumerate the underlying principles on
which scientific management rests.
2. To show in how far the other two types of management vary from
Scientific Management.
3. To discuss the psychological aspect of each principle.
Advantages of This Plan of Study.
In this way the reader can gain an idea of
1. The relation of Scientific Management to
the other types of management.
2. The structure of Scientific Management.
3. The relation between the various elements of Scientific
Management.
4. The psychology of management in general, and of the three types
of management in particular.
Underlying Ideas and Divisions of Scientific
Management. These underlying ideas are grouped under nine
divisions, as follows:
1. Individuality.
2. Functionalization.
3. Measurement.
4. Analysis and Synthesis.
5. Standardization.
6. Records and Programmes.
7. Teaching.
8. Incentives.
9. Welfare.
It is here only necessary to enumerate these divisions. Each will
be made the subject of a chapter.
Derivation of These Divisions.
These divisions lay no claim to being anything but underlying
ideas of Scientific Management, that embrace varying numbers of
established elements that can easily be subjected to the scrutiny
of psychological investigation.
The discussion will be as little technical as is possible, will
take nothing for granted and will cite references at every step.
This is a new field of investigation, and the utmost care is
necessary to avoid generalizing from insufficient data.
Derivation of Scientific Management.
There has been much speculation as to the age and origin of
Scientific Management. The results of this are interesting, but
are not of enough practical value to be repeated here.
Many ideas of Scientific Management can be traced back, more or
less clearly and directly, to thinkers of the past; but the
Science of Management, as such, was discovered, and the deduction
of its laws, or "principles," made possible when Dr. Frederick W.
Taylor discovered and applied Time Study.
Having discovered this, he constructed from it and the other
fundamental principles a complete whole.
Mr. George Iles in that most interesting and instructive of books,
"Inventors at Work," has pointed out the importance, to
development in any line of progress or science, of measuring
devices and methods.
Contemporaneous with, or previous to, the discovery of the device
or method, must come the discovery or determination of the most
profitable unit of measurement which will, of itself, best show
the variations in efficiency from class.
When Dr. Taylor discovered units of measurement for determining,
prior to performance, the amount of any kind of work that a worker
could do and the amount of rest he must have during the
performance of that work, then, and not until then, did management
become a science.
On this hangs the science of management.
Outline of Method of Investigation.
In the discussion of each of the nine divisions of Scientific
Management, the following topics must be treated:
1. Definition of the division and its
underlying idea.
2. Appearance and importance of the idea in Traditional and
Transitory Management.
3. Appearance and importance of the idea in Scientific Management.
4. Elements of Scientific Management which show the effects of the
idea.
5. Results of the idea upon work and workers.
These topics will be discussed in such order as the particular
division investigated demands.
The psychological significance of the appearance or non-appearance
of the idea, and of the effect of the idea, will be noted. The
results will be summarized at the close of each chapter, in order
to furnish data for drawing conclusions at the close of the
discussion.
Conclusions to be Reached. These
conclusions will include the following:
1. "Scientific Management" is a science.
2. It alone, of the Three Types of Management, is a science.
3. Contrary to a widespread belief that Scientific Management
kills individuality, it is built on the basic principle of
recognition of the individual, not only as an economic unit but
also as a personality, with all the idiosyncrasies that
distinguish a person.
4. Scientific Management fosters individuality by functionalizing
work.
5. Measurement, in Scientific Management, is of ultimate units of
subdivision.
6. These measured ultimate units are combined into methods of
least waste.
7. Standardization under Scientific Management applies to all
elements.
8. The accurate records of Scientific Management make accurate
programmes possible of fulfillment.
9. Through the teaching of Scientific Management the management is
unified and made self-perpetuating.
10. The method of teaching of Scientific Management is a distinct
and valuable contribution to Education.
11. Incentives under Scientific Management not only stimulate but
benefit the worker.
12. It is for the ultimate as well as immediate welfare of the
worker to work under Scientific Management.
13. Scientific Management is applicable to all fields of activity,
and to mental as well as physical work.
14. Scientific Management is applicable to self-management as well
as to managing others.
15. It teaches men to coφperate with the management as well as to
manage.
16. It is a device capable of use by all.
17. The psychological element of Scientific Management is the most
important element.
18. Because Scientific Management is psychologically right it is
the ultimate form of management.
19. This psychological study of Scientific Management emphasizes
especially the teaching features.
20. Scientific Management simultaneously
a. increases output and wages and lowers costs.
b. eliminates waste.
c. turns unskilled labor into skilled.
d. provides a system of self-perpetuating welfare.
e. reduces the cost of living.
f. bridges the gap between the college trained and the
apprenticeship trained worker.
g. forces capital and labor to cooperate and to promote industrial
peace.
I have found the book online. If you want to read the book, you
may visit:
www.gutenberg.org/files/16256/16256-h/16256-h.htm#P001
Dear
Potential, New or Sitting Members of the Board of
Director,
You
have the duty to prudently represent the interests of the
shareholders.
You have to understand the needs and desires
of employees, customers and regulators.
You have to do your
best to understand the risks in your organization, and to exercise
oversight.
Year after year, you have to do more, and you
have more responsibilities.
Our Mission: To help you make
informed business decisions in good faith.
Our International
Association provides networking, training, certification, alerts and
updates you can use.
Best Regards,
George
Lekatis
President of the International Association of Potential,
New and Sitting Members of the Board of Directors (IAMBD)
General
Manager, Compliance LLC
1200 G Street NW Suite 800, Washington DC
20005, USA
Tel: (202) 449-9750
Email: lekatis@members-of-the-board-association.com
Web:
www.members-of-the-board-association.com
HQ: 1220 N. Market Street
Suite 804, Wilmington DE 19801, USA
Tel: (302) 342-8828
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