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They also benefit the involved companies, due to reduced competition, increased information availability for directors, and increased prestige. [ 2 ] [ 9 ] Some theorists believe that because multiple directors often have interests in firms in different industries, they are more likely to think in terms of general corporate class interests ...
Intel Board of Directors, 2012. The term director is a title given to the senior management staff of businesses and other large organizations. The term is in common use with two distinct meanings, the choice of which is influenced by the size and global reach of the organization and the historical and geographic context.
Choosing a structure for a company is an important decision and must be strategically thought out because it could either aid or harm the making of business. The structure must also be a good fit for the type of activities, goals, and vision of the company. [3] The organizational structure is a reflection of how conveniently business is conducted.
Quizlet was founded in 2005 by Andrew Sutherland as a studying tool to aid in memorization for his French class, which he claimed to have "aced". [6] [7] [8] Quizlet's blog, written mostly by Andrew in the earlier days of the company, claims it had reached 50,000 registered users in 252 days online. [9]
Under this model, the board of directors is composed of both executive and non-executive directors, the latter being meant to supervise the former's management of the company. A two-tiered committee structure with a supervisory board and a managing board is common in civil law countries. [29]
In business, the business owner traditionally occupies the pinnacle of the organization. Most modern large companies lack a single dominant shareholder and for most purposes delegate the collective power of the business owners to a board of directors, which in turn delegates the day-to-day running of the company to a managing director or CEO. [9]
In large public companies, the board tends to exercise more of a supervisory role, and individual responsibility and management tends to be delegated downward to individual professional executives (such as a finance director or a marketing director) who deal with particular areas of the company's affairs.
directors owe duties to the corporation, [1] and not to individual shareholders, [2] employees or creditors outside exceptional circumstances; directors' core duty is to remain loyal to the company, and avoid conflicts of interest; directors are expected to display a high standard of care, skill or diligence