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_______________________ refers to the relationship among these three groups in determining the direction
and performance of the corporation.
_______________________ Approves, questions, and makes final decisions on mission, strategy, policies, and
objectives. Has active board committees. Performs fiscal and management audits.
_______________________ Takes the leading role in establishing and modifying the mission, objectives, strategy, and
policies. It has a very active strategy committee.
_______________________ which states that problems arise in corporations because the agents (top
management) are not willing to bear responsibility for their decisions unless they own a substantial
amount of stock in the corporation.
_______________________ proposes that, because of their long tenure with the corporation, insiders (senior
executives) tend to identify with the corporation and its success. outsiders are not truly objective and
should be considered more as insiders than as outsiders
_______________________ who, though not really employed by the corporation, handle the legal or
insurance work for the company or are important suppliers (thus dependent on the current management
for a key part of their business).
_______________________ who used to work for the company, such as the past CEO who is partly
responsible for much of the corporations current strategy and who probably groomed the current CEO as
his or her replacement
_______________________ who are descendants of the founder and own significant blocks of stock
(with personal agendas based on a family relationship with the current CEO).
_______________________ the inclusion of a corporations workers on its board, began only recently in the
United States.
_______________________ occurs when two firms share a director or when an executive of one firm sits on
the board of a second firm.
_______________________ occurs when two corporations have directors who also serve on the board of a
third firm, such as a bank
_______________________ a Japanese term for a set of companies with interlocking business relationships
and share-holdings
II ENUMERATION
two primary responsibilities that are crucial to the effective strategic management of the corporation: (PM)
1.
2.