The Ways of Creating an Efficient Board in International Nanotechnology Companies

Properly setting-up work of managers and executives helps the company to develop, grow, and bring benefits to the organization. One of the most important elements of the corporate governance system is the Board of Directors, as its activities affect the investment attractiveness of the company. The main task of the company is to create an efficient board of directors that actively participates in company’s work, strategic planning, provides effective control and support for hiring and run management, promotes good compliance with shareholders' rights and interests, and increases business value. One of the important and difficult challenges in the organization is the effective creating of the board of directors, as many factors influence its construction, such as the company's development, scale, location and other criteria. It is not easy to create a good board of directors in innovative companies such as nanotechnology, nanomedicine or nanobiotechnology companies. From the one side, these companies are very promising and prospective but at the same time, running business there is not easy. Some periods a company may have troubles and do not generate revenue. So, creating a good board of directors in innovative companies, such as nanotechnology, may be more complicated and maybe there are some special features to do it.