The And Products : Education Provider

There are a number of people that are critical to the corporate process. These include the directors of corporations, officers, and shareholders. The primary role of the directors is that of oversight (Loewenstein, 1998). The directors are hired by the shareholders, and their duty is to oversee the actions of the corporate executive. The directors hire the CEO and set his/her salary and benefits. The directors also play a role in oversight of the strategy and operations - this tells them about the merits of the executive that they have hired. Since Sarbanes-Oxley (SOX) was enacted, directors have seen their oversight role expanded (Skinner, 2006). There must be within the director group some financial experience to provide explicit financial oversight of the firm. The law prescribes certain committees as well, including audit and compensation committees, and SOX has also increased the liability that director's face, while expanding the role that directors play in the firm.

It establishes expectations and requirements for their business units and guides leader behaviours to manage, prioritize and continuously improve our efforts to protect people and the

The Directors have the responsibility to prevent the issues from ever happening. When the issues do occur, the directors must keep the stakeholders best interests in mind by resolving the issue and preventing it from happening again. The directors resolve and prevent issues through members of senior management. “The Board of Directors selects and oversees the members of senior management, who are charged by the Board with conducting the business of the Company” (Coca-Cola,

The company has implemented the first principle, lay solid foundations for management and oversight. The role of the board is to build long term sustainable value for its security holders whilst respecting the interests of its stakeholders. The board is responsible for the overall corporate governance of the company including formulating its strategic direction, setting remuneration and monitoring the performance of directors. The board approves and monitors expenditure, ensures the integrity of

* Shareholders generally make decisions to these companies and elect a board of directors to act on behalf in their best interests.

1) According to the judgement of the court in AWA Ltd v Daniels, we know that the board of director’s duties include: setting goals for the corporation; appointing the corporation’s chief executive; overseeing the plans of managers for the acquisition and organisation of financial and human resources towards attainment of the corporation’s goals; monitoring the progress of reaching its goals.

The Board of directors is responsible for approving strategic guidelines, management goals and annual budgets. They also approve policies in investments, finance, corporate social responsibility, corporate governance, remuneration and evaluation of senior executives, risk control and management, shareholder remuneration and own shares.

1. Role of the Board – The Board, which is elected by the shareholders, is the ultimate decision-making body of the Company, except with respect to matters reserved to shareholders. The primary function of the Board is oversight. The Board, in exercising its business judgment, acts as an advisor and counsellor to senior management and defines and enforces standards of accountability – all with a view to enabling senior management to execute their responsibilities fully and in the interests of shareholders. The following are the Board's primary responsibilities, some of which may be carried out by one or more Committees of the Board or the independent Directors as appropriate:

Every organization has a mission. The head of an organizational unit must ensure that the

They must continuously review the performance of the chief executive to ensure that managerial actions are in line with shareholders wishes and given that they are accountable to the former, they have to report to them about the overall organisational performance. Regarding their duty of loyalty, directors must prevent conflict of interest by avoiding transactions which may generate a potential conflict; those transactions according to Professor Bernard S. Black of Standford Law School in an article entitled The principal Fiduciary Duties of Boards of Directors are called “ self-dealing “ transactions. Representing at the same time the boss to one extend and the subordinate to another extend, directors must make sure never to act in ways that will harm either the shareholders or the executives, treat both parties with care and respect and try to make good decisions i.e. that will compromise none of the parties, but which will be profitable to the firm. Also, board members have the duty to keep private all dealings, matters and information from the board meeting and the company in order to avoid the disclosure or misuse of information which may lead to a conflict. From the study of board members duties, we can state that companies’ corporate governance rests mostly on their shoulders. So, when effective, it permits the realisation of corporate objectives, risk management, the reduction of agency problems and an increase in the value of the

Board of Directors- is a group of people who are legally charged to govern an organization. The board is responsible for setting strategic direction, establishing broad policies and objectives, and hiring and evaluating the chief executive officer. The chief executive officer reports to the board and is responsible for carrying out the board 's strategic policies. A board can vary widely in nature, some boards act like "governing boards", that is, they take a strong policy-making role, and expect the chief executive to operate the organization according to those policies. Some boards, despite their being legally responsible for the activities of the corporation, follow all of the directions and guidance of the chief executive (in this case, board members arguably are not meeting their responsibilities as a board). Still, other boards take a strong "working board", or hands-on role, including micro-managing the chief executive and organization.

‘ The system by which organisations are directed and controlled by their board of directors’

They are responsible for employing staff, they train employees to make them reach their full potential and they communicate all the

They are also in charge of buying things for the company to function such as computers, better machinery or refreshments for the staff as this may help the staff do their job quicker and better if they are hydrated. The purchasing department also buys things in parts so they can get them cheaper in order to make a bigger profit for the company.

The precise legal details of the corporation’s differ across countries. The company law of the U.K is similar to the company law of the U.K because they share a common origin. The managers in both countries have a fiduciary duty to the shareholders. In other words, they have a strong requirement to act in the interests of shareholders. The channel through which shareholders exercises control of company affairs is the board of directors. The board is elected by shareholders and typically on a one-share vote basis. Sometimes multiple classes of shares exits, the main difference between classes being the number of votes each share has attached to it. The board of directors consists of a mix outside directors and inside directors, the latter being the top executives of the firm. It is rare that the Chief Executive Officer (CEO) is not on the board. In both U.S and U.K the CEO often acts as chairman as well. Once elected the board of directors of directors specifies the business policies to be pursued by the firm. The role of management is to implement the policies determined by the board. Shareholders have very little say in the affairs of the company beyond electing directors. For example, it is the directors who decide on their own compensation, without any input from shareholders. A committee of outside directors determines the senior management’ compensation. Except in unusual circumstances, such as a proxy fight, the outside