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17 Cards in this Set
- Front
- Back
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Directors who, though not really employed by the corporation, handle the legal or insurance work for the company or are important suppliers
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Affiliated Director
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A theory stating that problems arise in corporations because the agents (top management) are not willing to bear responsibility for their decisions unless they own a substantial amount of stock in the corporation
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Agency Theory
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A range of the possible degree of involvement by the board of directors (from low to high) in the strategic management process.
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Board of Directors' Continuum
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Commonly agreed obligations of directors, which include; setting corporate strategy, overall direction, mission or vision; hiring and firing the CEO and top management; controlling, monitoring, or supervising top management; reviewing and approving the use of resources; and caring for shareholder interest.
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Board of Director Responsibilities
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The inclusion of a corporation's workers on its board of directors.
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Codetermination
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The relationship among the board of directors, top management, and shareholders in determining the direction and performance of a corporation.
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Corporate Governance
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The obligation of board members to closely monitor and evaluate top management
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Due Care
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The directing of activities toward the accomplishment of corporate objectives.
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Executive Leadership
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An officer or executive employed by a cop oration who serves on that company's board of directors; also called management director
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Inside Director
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A condition that occurs when two firms share a director or when an executive of one firm sits on the board of a second firm.
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Interlocking Directorate
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An outside director who calls meetings of the outside board members and coordinates the annual evaluation of the CEO.
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Lead Director
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Members of a board of directors who are not employees of the board's corporation; also called non-management directors.
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Outside Director
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Legislation passed by the U.S. Congress in 2002 to promote and formalize greater board independence and oversight.
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Sarbanes- Oxley Act
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A theory proposing that executives tend to be more motivated to act in the best interests of the cop oration than in their own self-interest
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Stewardship Theory
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A description of what the company is capable of becoming
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Strategic Vision
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Leadership tasks that involve getting things accomplished through and with others in order to meet the cop orate objectives.
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Top Management Responsibilities
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A leader who cause change and movement in an organization by providing a strategic vision.
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Transformational Leader
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