What must a board do regarding service vendors to fulfill their responsibilities?

Outlining clear service expectations and conducting due diligence is essential for a board to effectively fulfill its responsibilities regarding service vendors. Having defined service expectations ensures that both the board and the vendors are aligned on the necessary standards, deliverables, and performance metrics. This clarity helps in monitoring the effectiveness of the services provided and sets a foundation for accountability.

Conducting due diligence involves thoroughly assessing potential vendors before engaging their services. This includes evaluating their qualifications, financial stability, reputation, and past performance. By taking these steps, a board can minimize risks, ensure that they are selecting competent vendors, and establish a framework for measuring performance throughout the contract's duration.

These practices contribute to stronger governance and better decision-making, ultimately leading to improved outcomes for the community or organization the board serves.