Duties of Board of Directors

The video explains the duties of a corporation's board of directors, focusing on their role in large-scale decision-making, supervisory responsibilities over management, strategic planning, budget approval, and financial decisions. The board is also accountable for ensuring compliance with laws and regulations governing corporate activities.

What is one of the primary responsibilities of the board of directors in a corporation?

• Managing daily tasks of employees

• Controlling large-scale decision-making

• Designing marketing campaigns

• Handling customer service inquiries

Who does the board of directors appoint to oversee the management of the company?

• Marketing managers

• Executive officers

• Customer service agents

• Sales representatives

What is a key aspect of the board's role in strategic planning?

• Managing social media accounts

• Designing product packaging

• Setting the strategic mission and company-wide policies

• Organizing team-building events

Which financial decisions require the board's approval?

• Office supply purchases

• Employee salary adjustments

• Major financing decisions like selling equity

• Daily petty cash expenses

What is the board ultimately accountable for in terms of legal responsibilities?

• Creating new laws

• Ensuring adherence to existing laws and regulations

• Drafting employee contracts

• Setting up company events