Shareholders of public companies need to appoint a board of directors to represent their interests because of the separation of ownership and control.
Today's board members are supposed to reflect a variety of independent viewpoints. Strategic monitoring and planning are the major responsibilities of a board of directors. Even though these phrases are frequently used, it's crucial to remember that these tasks constitute the foundation of effective company planning.
A board of directors serves much more than just as the organization's public face. When selecting new board members to fill open positions, boards often seek for specific traits. Board members anticipate that their other directors will be open to challenging and in-depth questioning that seek to examine all sides of an issue. Board members must be thoroughly informed about any significant issues that have an impact on the company. Because risks are multiplying and getting more complicated, identifying risks has become an essential component of the board job.
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Answer:
Stakeholders
Explanation:
A stakeholder is anybody to takes key interest in the functioning of an organization. Stakeholder is directly or indirectly affected by the success and failure of the organization. A stakeholder could be an investor who has invested money in the firm; a customer who uses the products manufactured by the firm; a debtor who owes money to the firm or creditor who the firm owes money.
As such, a stakeholder is related to the firm through one or the other medium such as markets, industry or operations.
Answer:
- Behavioural Substitution
Explanation:
Martianse human resources department uses and deploy the concept of Behavioural Substitution.
To begin, Martianse goal, as a firm, is to motivate the employees to perform better. Hence, the human resources department has come up with measures to achieve that. It is thus believed that replacing the fixed incentive system hitherto known with the firm, should be replaced by a performance based system. By this, the firm believes its primary goal will be accelerated.
Behavioural Substitution is thus the concept that the human resources department has displayed in their analysis and engagement. For one, behavioural substitution is simply the procedures aimed at replacing and/or supplanting efforts and actions that does not lead to goal accomplishments. By general belief, the old style of reward system used by Martianse has been seen as one not leading to goal actualization. Hence, it is important to substitute this non productive reward system with one established to elicit more better and improved performance from the workforce.
Consumer goods are those goods that are purchased and used by consumers. Consumer goods are not used by manufacturers to produce other goods. In essence, consumer goods are ready for use since they have been taken through the production and manufacturing. For a country to have consumer goods it must trade with other countries either to acquire raw materials or trade in consumer goods. This trade process contributes greatly towards the development of LDC economies into MDC status.
