Duties of Corporate People

Duties of Corporate People - Corporate People Duties of...

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Corporate People Duties of Corporate People April Rice BUS670: Legal Environment Jennifer Stephens May 30, 2011 1
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Corporate People Duties of Corporate People There are many different views concerning the roles and responsibilities of a board of directors and some of these views share common interests. A board of directors is a group of people legally charged with the responsibility to govern a corporation. The board of directors are responsible to the stockholders in a for profit organization. The board is responsible to everyone who is interested and can be affected by the corporation. The board reports to stakeholders in a nonprofit corporation, particularly the local communities which the nonprofit serves. Shareholders of a corporation are the investors who receive ownership in the corporation in return for the money or assets they invest. The shareholders elect a Board of Directors, which has overall responsibility for the business. The Board in turn elects the officers of the corporation. The officers typically include: Chief of Operating Officer/President, Vice President, Secretary and a Chief Financial Officer to handle the day to day affairs of the corporation. According to Brenda Hanlon (2011), the Board of Directors has several major
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This note was uploaded on 10/06/2011 for the course FINANCE 650 taught by Professor Johndoe during the Spring '11 term at Kentucky.

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Duties of Corporate People - Corporate People Duties of...

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