This article discusses how to improve decision making practices of boards of for-profit organisations that utilise corporate governance structure. Based on bibliographic research, the article argues that the company should decide on the optimal board structure and size, and work to establish good relationship between the Chief Executive Officer (CEO) and the board. The board should be aware of biases and limitations that may impact on board as a whole and on individual director such as lack of integrity, arrogance, dominant personality, selfishness, greediness, abuse of power and personal interests that may undermine the decision making process, and reduce the quality of decisions. Age, skills, knowledge and experience should be considered in the process of appointment of directors. Board processes should be improved over time and they should include directors and CEO evaluation.