Which of the Following Is a Major Function of the Board

question 48

Multiple Choice

Which of the following is a major function of the Board of Directors of a company?

• A) Approving decisions made by divisional managers
• B) Monitoring line managers
• C) Aligning corporate strategy with stockholder interests 
• D) Creating contracts with suppliers
• E) Designing marketing strategies for the company

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Definitions:

Scientific Method

A systematic process for investigating phenomena, acquiring new knowledge, or correcting and integrating previous knowledge, based on empirical or measurable evidence.

Functional Fixedness

A cognitive bias that limits a person to using an object only in the way it is traditionally used.

Representative Heuristic

A mental shortcut that involves making judgments based on how well something matches existing prototypes or stereotypes in our minds.

Heuristics

Mental shortcuts or rules of thumb that simplify decision making, often leading to a solution that is good enough rather than perfect.