Answer all sub parts questions Question 1Mark's Cattle Company (MCC) is a 20-year-old family operation, and all shares are heldby Mark and Krystina Heard and their five children. Mark developed a revolutionary feedsystem for storage and distribution of feed to the cattle through the winter months withNO spoilage and even distribution among the herd. The feed system has gainedindustry notice, as Mark has demonstrated its functionalities to other cattle farmers.MCC has received an offer from Limenez Farm Corp. (LFC), a public company. LFChas offered to purchase a 40% interest in MCC for $5,000,000. As part of the offer, LFChas requested that MCC create a board of directors with a maximum of five seats, twoof which will be held by individuals nominated by LFC. Mark is unsure why a board ofdirectors would be useful and who the Heard family would want in its three seats.Required:a) Explain the primary role of a board of directors and one of its responsibilities.b) Explain why LFC would want to create a board of directors.c) Recommend three individuals who should fill the Heard family's three seats, andprovide support for your recommendations. You may either recommend specificindividuals (of those mentioned above) or describe the type of expertise andexperience that would be appropriate for the individuals filling the seats.

Disclaimer: As per the guidelines the third subpart of the question is not allowed to answer as it…

Answered: a) Explain the primary role of a board…

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

ChapterC: Cases

Section: Chapter Questions

Problem 5.1SA

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a) Explain the primary role of a board of directors and one of its responsibilities. b) Explain why LFC would want to create a board of directors.