In a for-profit organization, the primary objective of which of the following is to oversee the organization's business activities and management for the benefit of shareholders, employees, customers, suppliers, and the community?

Question

Maliyah

Business

6 May, 17:11

In a for-profit organization, the primary objective of which of the following is to oversee the organization's business activities and management for the benefit of shareholders, employees, customers, suppliers, and the community?

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Answers (1)

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Moshe Pierce · Answer 1

board of directors

Explanation:

The shareholders of a corporation elect the board of directors that should represent them (mainly their economic interests) as the highest level of authority and decision makers within the corporation. The board of directors should supervise upper management (CEO, CFO, COO, etc.) and make sure that they perform properly and on the best interest of the shareholders. The chairman of the board is the leader (head) of the board of directors.

The board of director is not responsible for the daily operations of a corporation, it generally only gets together once a week or every two weeks.