Describe the respective duties of people critical to the corporate process: directors of corporations, officers of corporations and shareholders of corporations. You should include an analysis of the difference between a publicly held and a closed corporation.
A corporate is a big name, which has an entity in the market and comprises a group of people with some definite duties and responsibilities. All the people, who are associated with a corporation and corporate world, are also known as corporate people (Micklethwait & Wooldridge, 2003). Some responsibilities and duties are assigned to these corporate people to achieve the strategic objectives of the organization according to its mission statement.
Directors of corporations, officers of corporations and shareholders of corporations are the main corporate people who are responsible to take actions and make decision for the achievement of the organization's goal (Micklethwait & Wooldridge, 2003). They are the key persons in the corporate world and success of an organization is based upon the working behavior of these people.
Duties of Directors of Corporations
In the field of corporate governance, the duties of the directors in a corporation are the central part to operate a big corporate entity. The main role the directors are to implement control and management in the organization to run all the functions in a smooth manner (McNamara, 2008). The main responsibilities and duties of the directors in an organization are to define the policies and procedures of the organization, of that the middle and lower management can follow these regulations to achieve the task and fulfill the goals of the organization ...
The duties of people critical to the corporate process are described.