BUS 101 Midterm Part 1 (of 7) Exam questions and answers Graded A+

BUS 101 Midterm Part 1 (of 7) Exam questions and answers Graded A+ Board of Directors - - Assess the overall direction and strategy of the business - Are at the absolute top of the corporate chain, and their responsibilities include: + Recruiting, training, supervising, and firing executive level management positions, such as CEO, CFO, and COO. + Providing the vision and direction for the company. + Fiduciary responsibility in regards to both the company's assets and the investments of shareholders. Shareholders - - Consists of anyone who owns a share of stock in a corporation. - Although do not hold any actual positions in the company, they have special rights through the Corporate Bylaws and the Shareholder's Agreement. - By owning a share of stock, one receives a stake of ownership in the company and receives residual income in the for