Separation of Authority in Corporation

The video explains the roles and responsibilities within a corporation. Shareholders elect directors and have authority over major decisions like amending bylaws and issuing shares. Directors make strategic decisions, such as approving corporate strategy and hiring executives. Managers handle daily operations, with officers overseeing routine business activities. Directors typically do not engage in daily affairs unless they also serve as officers.

What authority do shareholders have regarding the corporation's bylaws?

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How do the roles of officers differ from those of directors?

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