Study On The Efficient Operational Mechanism Of Board Of Directors

This paper mainly studies the operation mechanism of the board of directors.As the core of modern corporate governance,the board plays the role of the company's top strategic decision-making body and is closely related to the company's strategic decision-making.The decision-making of the board is closely related to the performance of the company,and its efficient operation in the decision-making process directly determines the company's future performance.At present,how to make the correct decision and efficient operation of the board of directors has gradually become the focus of investors and decision-makers.With the improvement of the securities market and the level of external supervision,the normalization of board governance structure of listed company has been resolved,there are still many problems in the actual operation,such as the board has spent a lot of time and effort on procedural matters;the selection of members of board is lack of effective mechanism,and the composition of the board of directors is unreasonable;the meetings of board are in the form of form,and the program is very chaotic,and so on.In the face of the inefficient situation of the board operation mechanism in the real situation,based on the improvement of governance structure,how to construct the efficient operation mechanism of the board of directors has become the focus of the current theory and practice.In this paper,the efficient operation mechanism of the board of directors takes how the board makes the right decision as the core to optimize its operation mechanism,which is based on the theory of decision-making and the relevant theories of the board of directors.Based on the decision-making effectiveness,the full text takes system design method,firstly,construct the operation mechanism of the board of directors from three aspects of decision-making content,decision-making team and decision-making process,which is on the basis of combing and summarizing literature;then takes 10 listed companies in China as the main object to analyze the current status and problems of the operation of the board of directors of the listed company in our country through researching,interviewing and collecting secondary data:the board wasted a lot of time on procedural matters,the board lacks of member selection mechanisms and its structure is unreasonable,the meetings of board are partial to formalization,and procedures are more confusing;and then introduces innovation management tools such as time management,competency model and Robert rules of procedure to put forward effective channels and solutions.Based on the perspective of decision effectiveness,the main conclusions of this paper are as follows:firstly,in order to ensure that the board of directors to make effective decisions,this paper constructs the operating mechanism model of board from three aspects of decision-making content,decision-making team and the decision-making process,and introduce the corresponding management tools to improve the effect and quality of decision-making;secondly,in the decision-making,the introduction of time management tools will help to keep the board's limited time and effort focused on key issues and reduce the waste of time on procedural matters;thirdly,In the decision-making team,the use of competency model for the selection of directors provides a tool to help rationalize the structure of the board to ensure the quality of decision-making;finally,in the decision-making process,the introduction of Robert's rules of procedure will help the board of directors rationalize the agenda of the Board meeting,and optimize the mechanism of information acquisition and communication,which ensures the quality of decision-making.The conclusions above will have certain guiding significance to the theory and practice development of the efficient operation mechanism of board of directors.