Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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The obligations of an investor-owned company's board of directors in the strategy-making, strategy-executing process include

A) taking the lead in developing the company's business model and strategic vision.
 
B) coming up with compelling strategy proposals to debate against those put forward by top management.
 
C) taking the lead in formulating the company's strategic plan but then delegating the task of implementing and executing the strategic plan to the company's CEO and other senior executives.
 
D) overseeing the company's financial accounting and financial reporting practices and setting CEO compensation
.
E) approving the company's operating strategies, functional-area strategies, business strategy, and overall corporate strategy.
Expert Solution
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Introduction:
  • The 'board of directors' in an investor-owned company plays a 'crucial role' in shaping the company's future and guiding its success.
  • The board's 'responsibilities' in the 'strategy-making' and 'strategy-executing' process are vital and have a significant impact on the long-term growth and success of the company.
  • The board must ensure that these strategies align with the company's vision and mission, and are in the best interest of all stakeholders, including shareholders.
  • Additionally, the board must maintain a balance between fulfilling its fiduciary responsibilities and promoting the success of the company.
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