Board of directors: The board of directors is responsible for communicating with stockholders and setting policy on dividends, major spending, and executive compensation
Although board members oversee operations, most do not participate in day-to-day management. Rather, they hire a team of managers to run the firm. The firm's chief executive officer (CEO), who is responsible for overall performance usually, heads this team, called officers.
Other officers typically include a president, who is responsible for internal management, and vice-presidents, who oversee various functional areas such as marketing and operations.
Board of directors: The board of directors is responsible for communicating with stockholders and setting policy on dividends, major spending, and executive compensation.
Although board members oversee operations, most do not participate in day-to-day management. Rather, they hire a team of managers to run the firm. The firm's chief executive officer (CEO), who is responsible for overall performance usually, heads this team, called officers.
Other officers typically include a president, who is responsible for internal management, and vice-presidents, who oversee various functional areas such as marketing and operations.
Communicating with stockholders and setting financial policy: The board of directors is responsible for communicating with stockholders and setting policy on dividends, major spending, and executive compensation. Although board members oversee operations, most do not participate in day-to-day management. Rather, they hire a team of managers to run the firm. The firm's chief executive officer (CEO), who is responsible for overall performance usually, heads this team, called officers. Other officers typically include a president, who is responsible for internal management, and vice-presidents, who oversee various functional areas such as marketing and operations.