Question

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?

a) 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

b) Overseeing the company's financial accounting and financial reporting practices

c) Evaluating the caliber of senior executives' strategy-making/strategy-executing skills

d) Being inquiring critics and exercising strong oversight over the company's direction, strategy, and business approaches

Answer 1

The board of directors does not oversee financial accounting and reporting practices as part of the strategy-making and strategy-executing process.

Step-by-step explanation:

The correct answer is b) Overseeing the company's financial accounting and financial reporting practices. This is not a chief duty of the board of directors in relation to the strategy-making and strategy-executing process. The primary responsibility of the board of directors is to direct senior executives as to the company's long-term direction, objectives, business model, and strategy, and to closely supervise their efforts to implement and execute the strategy. They also evaluate the caliber of senior executives' strategy-making and strategy-executing skills, and they act as inquiring critics and exercise strong oversight over the company's direction, strategy, and business approaches.