Which one of the following is not among the chief duties/responsibilities of a company's board of directors insofar as the strategy-making, strategy-executing process is concerned?
Multiple Choice
Directing senior executives as to what the company's long-term direction, objectives, business model, and strategy should be, and, further, closely supervising senior executives in their efforts to implement and execute the strategy
Overseeing the company's financial accounting and financial reporting practices
Evaluating the caliber of senior executives' strategy-making/strategy-executing skills
Being inquiring critics and exercising strong oversight over the company's direction, strategy, and business approaches
Instituting a compensation plan for top executives that rewards them for actions and results that serve stakeholders' interests, most especially those of shareholders
Directing senior executives as to what the company's long-term direction, objectives, business model, and strategy should be, and, further, closely supervising senior executives in their efforts to implement and execute the strategy
Although senior managers have lead responsibility for crafting and executing a company's strategy (vision, mission, objectives) and business model, it is the duty of the board of directors to exercise strong oversight to: (1) monitor the company's performance, (2) guide and judge the CEO and other top executives, (3) curb management actions it believes are inappropriate or unduly risky, (4) certify to shareholders that the CEO is doing what the board expects, (5) provide insight and advice to management, and (6) remain intensely involved in debating the pros and cons of key decisions and actions.