December 2020
Intermediate to advanced
857 pages
42h 3m
English
Content preview from Business Environment, 4th Edition by Pearson
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442 | Chapter 16
4. The board committees on compensation, audit, and nomination should consist
only of independent directors. The executive session of the board should also
comprise only independent directors.
5. For family-owned business, outside directors are essential to ‘ask the hard
questions’ to family owners, where the relationship between the business and
family may be blurred.
Board Responsibility
1. Approve a core philosophy and mission
2. Monitor and evaluate the corporate performance
3. Monitor and evaluate the corporate strategy
4. Review and approve material transactions not in the course of ordinary
business
5. Determine the ...
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