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A board of directors is an executive committee that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law ) and the organization's own constitution and by-laws .
Corporate titles or business titles are given to company and organization officials to show what job function, and seniority, a person has within an organisation. [1] The most senior roles, marked by signing authority, are often referred to as "C-level", "C-suite" or "CxO" positions because many of them start with the word "chief". [2]
Directors' duties are a series of statutory, common law and equitable obligations owed primarily by members of the board of directors to the corporation that employs them. It is a central part of corporate law and corporate governance. Directors' duties are analogous to duties owed by trustees to beneficiaries, and by agents to principals.
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The National Association of Corporate Directors (NACD) is an independent, not-for-profit, section 501(c)(3) founded in 1977 and headquartered in Arlington, Virginia.NACD's membership includes more than 1,750 corporate boards as well as several thousand individual members, for a total of more than 24,000 members. [1]
The board sets the vision through a high-level strategic plan, but it is the role of the executive director to create implementation plans that support the strategic plan. The executive director is a leadership role for an organization and often fulfills a motivational role in addition to office-based work. Executive directors motivate and ...
Non-profit corporations' governing board members may be called directors like most for-profit corporations, or an alternative like trustees, governors, etc. Director – a manager of managers within an organization who is often responsible for a major business function and who sometimes reports to a vice president (in some financial services ...
In a one-tier board, all the directors (both executive directors as well as non-executive directors) form one board, called the board of directors. In a two-tier board there is a separate management board i.e., board of directors (all executive directors and all non-executive directors) and a separate governance board i.e. council of delegates ...