Board directors have immense responsibility – the future of the company is in their hands and in the decisions they make. They also have responsibility to multiple stakeholders, including employees, suppliers, customers, investors and the environment. In theory, great responsibility should be accompanied by great accountability. In practice, the consequences when directors do a poor job, are minimal. While there are sanctions for dishonesty (such as disqualification or in extreme cases, such as fraud, prison), the bar for incompetence is set so high in many Western economies that the only sanction is losing their job. 

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