Definition: include the duties and obligations of a company board of directors’ members (both that perform executive and non-executive functions). The primary responsibility of all directors is to support honest and mutually beneficial relationships with the company’s shareholders, employees, and clients. Additionally, their responsibilities include: a) performing all tax payments on time, b) maintaining account books and presenting yearly financial reports as a part of their director’s accountability, c) attending and partaking in the board’s yearly general meetings, and d) filing any documents demanded by governmental organizations.
In a Sentence:
If you don’t learn the responsibilities of directors you have to uphold, you’ll never succeed as an executive. It’s especially crucial to keep the interests of your company’s shareholders in mind when making any serious business decisions.
Among the list of responsibilities of directors, the one that is oftentimes ignored by selfish directors is looking out for the well-being of the organization’s employees. This is especially the case in large corporations.
Synonyms and related words: director, appointment of directors, disqualification of directors, powers of directors