Grumman Communication Strategy

The board carries out the duties in regard to the interest of the companies’ shareholders, staff,

1. Financial Publics: The Company’s Board of Directors, which is elected by the stockholders, is the ultimate decision-making body of the Company, except with respect to matters reserved to the stockholders. The Board selects the Chief Executive Officer and other senior executives of the Company, who are charged with directing the Company’s business. The primary function of the Board is oversight—defining and enforcing standards of accountability that enable executive management to execute their responsibilities fully and

Corporate governance is a set of actions used to handle the relationship between stakeholders by determining and controlling the strategic direction and performance of the organization. Corporate governance major concern is making sure that the strategic decisions are effective and that it paves the way towards strategic competitiveness. (Hitt, Ireland, Hoskisson, 2017, p. 310). In today’s corporation, the primary objective of corporate governance is to align top-level manager’s and stakeholders interest. That is why corporate governance is involved when there is a conflict of interest between with the owners, managers, and members of the board of directors (Hitt, Ireland, Hoskisson, 2017, p. 310-311).

Common stockholders are the basic owners of a corporation, but few stockholders of large corporations take an active role in management. Instead, they elect the corporation’s board of directors to represent their interests. Board members seldom get involved in the day-to-day management of the company. They establish the basic mission and goals of the corporation and appoint

As Canadian Coalition for Good Corporate Governance indicates that the good governance of a corporation is essential to creating long-term sustainable value and reducing investment risk. In other words, the high quality performance of board directors plays a key role in the success of a corporation. We evaluate it based

Lockheed Martin’s board of directors consist of twelve active members. There are four women and eight men, all of which are external members other than the CEO. One woman, Marillyn A. Hewson, is the Chairman, CEO, and President of Lockheed. She, among other board members has 30+ years of management experience and is responsible for acting with independent interest for the company in order to avoid compromising judgement. Considering majority of the board has external membership, it benefits the company 's overall corporate governance because it avoids conflict with other positions inside of the board. Similarly, many large companies have twelve or more members on the board in order to oversee the corporate governance, strategic development, and capital investments of stock and financial operations.1 As an illustration, the board of directors has recently been ranked a 6 (on a scale of 1-10) as of November 1, 2016 according to the ISS (International Space Systems). This is a low score on the ISS scale because the board lacks several qualities that the ISS checks for annually. The ISS QuickScore determines how well the company incorporates board structure, compensation, shareholder rights, and risk oversight. According to the ISS, a score of a 1 is a perfect score and a score of 10 describes of lack of compatibility within the board. As a company overall, Lockheed Martin has a QuickScore of 1 (QS:1). The score is meant to “provide an indication of relative quality and is

To ensure that the company thrives and overcomes the crisis that may come on the way, the company has various strategies and ways to overcome that and to keep the company on the track which includes constitution and board of directors which has various roles and responsibilities. The company has got a constitution and also corporations’ act. The companies’ values are the trust, integrity and honesty. The board carries out the duties in regard to the interest of the companies’

In large corporations the success or failure of the company is the responsibility of the board of directors. According to Richard DeGeorge, “The members of the board are responsible to the shareholders for the selection of honest, effective managers, and especially for the selection for the CEO and of the president of the corporation.” (p. 202). The board members have a moral responsibility to ensure the corporation is run honestly, in respect to its major policies, and to ensure the interests of the shareholders are satisfied. The next responsibility within a corporation is the responsibility management has to its board of directors. DeGeorge writes, “It must inform the board of its actions, the decisions it makes or the decisions to be made, the financial condition of the firm, its successes and failures, and the like.” (p. 202). The management of the corporation is morally obligated to

* The roles and responsibilities of the board of directors in corporate governance and the way the board affects a company’s operation.

Boards members rarely have an understanding of key enterprise strategies or risks. They have no clear sense of their companies’ prospects 5 to 10 years down the road. They have limited time, lack of industry specific expertise and different definitions of success that prevent them from successfully performing

Describe the role of the Board of Directors in comparison to the role of the Executive Director. What is expected of each, who is in charge of what and in what

is a strict follower of best practices in corporate governance and considers the best interest of the business and stockholders as its priority. The Board usually is committed to coordinating with share holds feedback and certifies that the executive goals are met and are aligned with the best practices. Even though the company makes modifications to policies and practices now and then to meet growing demand for development. Some of the highlights of corporate governance policies are that all members of different committees such as corporate governance committee are independent directors and they do not get any extra compensation in anyways other than for their services as a board of directors. There is an annual election of directors that expires at the next annual stockholders meeting.

The Board of Directors currently hosts 13 members, of which, four are women and two are minorities. There are six distinct committees of the board consisting of (a) audit, (b) compensation and benefits, (c) finance, (d) nominating and corporate governance, (e) public policy, and (f) science and technology. The committees receive recommendations and guidance from 22 corporate officers and 19 company group chairmen. The 2005 Annual Report also details the accomplishments of the members of the Board of Directors. There is a vast wealth of experience and knowledge within the Board of Directors including:

I had reviewed companies must have corporate governance committee combined entirely of independent directors together. In addition to, identifying individuals qualified to become board members, develops and recommends to the board has arranged of corporate governance principles and applied to the company as following;

First of all, in Walmart, the Board of director is the most powerful governing authority who are responsible for setting the framework and management structure in general. It is committed to be operated in fairness and integrity in order to ensure the shareholders’ trust. Board of directors’ internal duty is to control mechanisms for good governance are adequate. This includes setting up legal existence, establishes company’s vision, key mission, strategic direction, selecting and appointing chief executives, governing the organization via policies and objectives to guide other agencies following up. All strategic decisions of the corporation would be raised and agreed by the board, such as hiring a CEO, approving to do a major financing or acquisition. Its primary responsibility is protecting shareholders’ asset as well as