Question

Individuals who reflect a group of people responsible for establishing the organization's overall objectives and developing the policies to achieve these objectives are called?

1) Managers
2) Executives
3) Board of Directors
4) Shareholders

Answer 1

The correct answer is option 3) Board of Directors.

Step-by-step explanation:

The individuals responsible for establishing an organization's overall objectives and formulating policies to achieve these objectives are the Board of Directors. The Board of Directors is elected by the shareholders to represent their interests and oversee the company's management. In a public company, shareholders typically vote for the board members, and these directors have the authority to hire top executives to handle the daily operations of the company.

While managers, executives, and shareholders are all important stakeholders in a company, it is the Board of Directors who play a crucial role in high-level decision-making and direction setting for a corporation.