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oard

A board of directors is a group of people who control and sometimes take an active role in
running business affairs for a corporation. A corporations stockholders approve those who
occupy the board. Board members appoint a chairman who is responsible for leading the board.
One of the groups most important decisions is appointing the executive officers.

Executive Officers
The chief executive officer, or CEO, is ultimately responsible for the success of a corporation,
and is accountable to the board of directors. All other employees in a corporation are accountable
to the CEO. The CEO is responsible for developing overall goals and policies, with the help of
other top executives. These can include a president or chief operating officer in charge of daily
operations, a chief financial officer who handles accounting and other financial affairs, and a
chief information officer who determines the technical direction of the organization. These
positions typically require advanced education and many years of management experience.

Vice-Presidents
Vice presidents may go by other titles such as director or executive manager. They are in charge
of departments that fulfill major corporate functions, such as sales, human resources, marketing,
production, legal, research and development, and purchasing. They are accountable to the
executive officers above them, and are responsible for the managers and staff within their
departments. They meet frequently with each other to ensure that their departments continue to
advance corporate goals. Vice presidents require advanced education and experience in their
areas of expertise, as well as leadership and organizational skills. Many rise to their positions by
being promoted from lower technical and administrative levels.

Managers
Below vice-presidents are one or more layers of managers who are in charge of smaller units of
responsibility, such as specific geographic areas or product lines. For example, the sales
department might have regional managers who handle managers of individual states, who in turn
are in charge of salespeople in individual cities or territories. These managers establish sales
goals and quotas, hire, motivate and fire individual salespeople, and research and monitor sales
statistics in their areas. Managers may report to managers or vice presidents above them, while
maintaining responsibility for managers or employees under them.

Employees
The lowest level of a corporate hierarchy belongs to employees, which include the
administrative, technical and support personnel who perform the tasks that keep a corporation
running. They represent such titles as secretary, engineer, accountant, salesperson, customer
service representative, janitor or trainer. Educational background may range from a high school
diploma to advanced degrees in their technical specialty, with experience ranging from new
graduate to decades. They report directly to the managers above them.

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