Business, 26.03.2020 20:58 hero70

The roles and responsibilities of top executives and members of a corporation’s board of directors are different. Traditionally, executives have been responsible for determining the firm’s strategic direction and implementing strategies to achieve it, whereas the board of directors has been responsible for monitoring and controlling managerial decisions and actions. Some argue that boards should become more involved with the formulation of a firm’s strategies. How would the board’s increased involvement in the selection of strategies affect a firm’s strategic competitiveness? What evidence can you offer to support your position/answer?

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