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The Relative Roles and Responsibilities of the board of directors and the CEO in Strategic Management
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THE RELATIVE ROLES AND RESPONSIBILITIES OF THE BOARD OF DIRECTORS AND THE CEO IN STRATEGIC MANAGEMENT Julia Herald Strategic Management 1091243 Table of Contents Executive Summary 1 Introduction 1 CEO and the Board of Director's: Overview The roles and responsibilities of the CEO The roles and responsibilities of the Board of Directors Conclusion References Appendices Executive Summary Introduction The roles and responsibilities of the Chief Executive Officer (CEO) and the board of directors has changed quite dramatically, particularly regarding the amount of involvement and input into strategic management. In the wake of major corporate collapses such as HIH and Enron, public companies are also being urged to better monitor the performance of directors so to increase corporate governance. (Hepworth, Oldfield, 2004, p 3) Competition has also increased and as a result in 2002 nearly 40% of CEO's were fired for poor performance1 (Valier, 2003) due to the'...shorter grace periods and higher performance bars...' (Warrick, 2004) that are often implemented. The current environment is constantly changing, therefore...
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