A group of people appointed to jointly oversee a company’s affairs are known as the company’s board of directors. They take on responsibilities ranging from setting broad company objectives, approving budgets and answering to the company’s shareholders about its performance.
For example…
Let’s say you want to set up a pizza chain across several cities. You might appoint members in your board who specialise in strategy, marketing, finance or consumer affairs. You would have a chairperson who would head the board and the CEO would report to them. All in the name of delegating the successful running of a business to knowledgeable people.
