Vince
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When a corporation is set up, huge amount of resources- money, technology, people, land/facilities are committed for a defined purpose. As soon as the corporation's mission is launched, people who contributed those resources or their duly designated representatives collaborate to on how to serve the purpose. A certain number of people are named to sit with the committee called the "Board of Directors" to achieve this. The number is determined by the corporation's organizers, but is limited by the government (which varies from country to country). First, they elect among themselves their officers.
As there are two types of corporations- non-profit and business, the Board of Directors' ("board") agenda vary; but mainly, they are determinants of the corporation's direction, animation, and momentum. The board convenes once to four times a year, or as may be called in an emergency. They talk strategic, and their decisions are applied in the long term. Everything that they decide on are documented and becomes a matter of policy, which in turn, is executed by their duly voted president.
The board does not meddle with the day-in-and-day-out or the menial activities of the corporation, but it has the power to make or (the stupidity) to break the corporation. |
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