This document discusses building a board that provides competitive advantage. It emphasizes recruiting directors with skills aligned to future strategic challenges, mining the collective intelligence of the board through structured processes, and ensuring alignment between the CEO and board. Building a forward-thinking board focused on the next 5-10 years, and recruiting directors with experience in areas like growth, innovation and new markets can position a company for competitive edge. Processes like defining board roles and schedules in advance, and conducting structured board evaluations that produce high-level thinking also leverage the board's wisdom. CEOs should gain the board's trust and ensure no surprises through clear communication. Compensation varies but aims to attract expertise needed. An effective board composition demonstrates a company's strategic direction.