Corporation and the roles of the board of directors

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1. Consider a corporation and the roles of the Board of Directors and the top-level executives ("Chief" officers such as CEO, COO, CFO, etc.). How do their roles differ in terms of strategic planning? Who is responsible for setting long-term objectives? Who is responsible for achieving long-term objectives?

2. What is an agent? How do agency problems occur? Give a business example and explain how agency problems can be avoided (or remedied if they have already developed). (Hint: Consider whose interests the agent is duty-bound to pursue, and what might occur if that duty is not obeyed).

Reference no: EM132433725

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