Being a director – What is my operational role?

We are often asked about the operational responsibilities of directors. There is a large degree of subjectivity associated with the answer, and therefore no short, definitive answer that applies to all. The importance of getting it right, however, cannot be overestimated. Ask any executive about the frustrations and inefficiencies of a director getting it wrong towards the heavy end; and then ask any shareholder about the disappointments in a well-paid director being on the barely asleep side of involvement.  So how do some get it right, and what constitutes “right”?