Directors, Institute of
Founded in 1903 the Institute of Directors, often referred to by the abbreviation I.O.D., received a royal charter in 1906. Membership was given a considerable boost in 1948 when the Labour government appeared to be threatening the ery existence of free enterprise, the concept to which the Institute was dedicated.
It has two major aims. Firstly to promote its members’ interests by all available means and, at the same time, maximize the influence that the experienced members can exercise in furthering the common good by bringing weight to bear on the proper conduct of public affairs. Secondly, to give every assistance possible to members that they may prove, and improve, their competence to offer leadership in the business worid.
The Institute is non-political though, by The Institute is non-political though, by seeks to undermine the system of free enterprise. To this end it will make representations to any government that may be in power and will provide a forum for the airing of views and grievances of members at both local and national levels. Its most important function, however, must lie in its desire to provide a single and powerful voice representing the interests of company directors as the lynchpins of the system in which they evolved, that of a free market economy in which the interests of capital, labour and the general public coincide.
Reference: The Penguin Business Dictionary, 3rd edt.