Final answer:
The correct answer is option d. Employees who sit on a company's board of directors and represent the interests of the firm's employees are typically known as union representatives, which in the provided options is letter d. This representation forms part of the corporate governance structure to factor in employee perspectives.
Step-by-step explanation:
The question asks to identify which term best describes employees who are part of a company's board of directors and represent the interests of the firm's employees. When employees are elected or appointed to the board to represent the interests of their fellow employees within the corporate governance structure, they are typically known as worker representatives or employee representatives. In the context of this multiple-choice question, the closest option is union representatives since they often serve this purpose, although in some European countries the term works councils might also be applicable. However, within the given choices, option d. union representatives is often associated with this role in a broader sense.
It's essential to understand that the board of directors is elected by shareholders to represent their interests and to oversee the company's management, ensuring the company is run effectively and in the owners' interests. The concept of employee representation on the board introduces a dimension of corporate governance aimed at considering the workforce's views in strategic decision-making processes. Representatives may not necessarily be from unions; in some corporate cultures, other mechanisms for employee representation exist.
Therefore, the correct option in the final answer for the term that best describes employees sitting on a company's board of directors to represent the interests of firm's employees is d. union representatives.