Describe the Nature and Role of the Board of Directors

question 19

Essay

Describe the nature and role of the board of directors in an M-form organization and discuss who generally serves on the board, the role of outside members on a board of directors and when the roles of CEO and chairman of the board should be combined or separated.

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Definitions:

Improvise Fixes

The ability to quickly come up with solutions or workarounds in unexpected situations or when facing problems.

Marketplace Trends

Observations of general directions in which markets move, influenced by consumer behavior, technological advancements, and economic factors.

Prediscussion Polling

The practice of gauging opinions or attitudes of individuals before a discussion or meeting takes place.

Common Information Effect

The tendency for group members to focus on information that all members share, often at the expense of unique information held by individual members.