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Board of directors are the link between the people who provide capital and those who use the capital to create wealth. Their primary roles are:

i) To monitor and influence the performance of the management on behalf of the shareholders in an informed manner.

ii) They are concerned with the governance of the company and setting the company's strategic aims, policies and direction.

iii) Providing leadership

iv) Supervising the management of the business

v) Creating momentum, price movement, improvement and direction

vi) Reporting to shareholders on their stewardship; i.e. since the beginning of the year what have they done.

vii) Representing the interests of the shareholders and those of the society

The composition of the board should be adjusted to introduce checks and balances in corporate management, basically done through:-

i) Inter-locking directorship- Directors being directors of various companies.

ii) Introduce staggered boards - ( some people who were in previous boards continue)

iii) Independent outside directors - ( who would come for meetings and policies only)

The auditors provide the shareholders with an external and objective check on the director's financial statements which form the basis of reports to the shareholder.

2.2.4 Education & training

According to Armstrong (2006), training is the use of systematic and planned instruction activities to promote learning. The approach can be summarized in the phrase 'learner based training'. It involves the use of formal processes to impact knowledge and help people to acquire the skill necessary for them to perform their jobs satisfactorily.

Learning is the process by which a person acquires and develops new knowledge, skills, capabilities and attitudes. 'Learning has happened when people can demonstrate that they know something that they did not know before (insights, realizations as well as facts) and when they can do something they would not do before (skills)'

Development has been defined as 'Learning experiences of any kind, whereby individual and groups acquire enhanced knowledge, skills, values or behaviours. Its outcomes unfold through time, rather than immediately, and they tend to be long-lasting.'

According to Ouma (1990), knowledge has been described generally as the key to success for any dynamic business enterprise. Education and training help people to acquire knowledge and to develop skills which enables them to implement decisions effectively. In common with all business enterprises, cooperative business requires specific education and training for those who wish to operate it. It was in the light of this necessity that the pioneers of the modern cooperative movement adopted cooperative education. The successful pioneers were the members of 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。