Top executives and members of a corporations board of directors have different roles and responsibilities. Traditionally, executives have been responsible for determining the firms strategic direction and implementing strategies to achieve it, whereas the board of directors has been responsible for monitoring and controlling managerial decisions and actions. Some argue that boards should become more involved with the formulation of a firms strategies.
How would the boards increased involvement in the selection of strategies affect a firms strategic competitiveness?
What evidence would you offer to support their position?
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