Performance Management
The governance of a corporation is the role of the board of directors and the management has the duty of running the firm on a day to day basis. The board, therefore, oversees the management and ensures the interests of the various shareholders are upheld. The executive department is made up of the top level managers and they are required to work as a team so as to deliver on the company goals. According to Wash (2002), management can only be successful in their work if they have clearly defined work description. CEO or company president is a vital position towards the success of any firm as they must take up the leadership mantle, work closely with the top-management, and ensure clear organizational mission, vision, and operational goals.
As a result of clarity in work description and the responsibilities of members of the board, the Innovations Theater has been successful for more than two decades. Board functions include development, personnel, finance, and marketing. At the moment, other roles include long-term planning and legal matters (Wash, 2002). Two overlapping characteristics are required for the recruitment of board members; those wishing to be art financial patrons, and those with special professional talents.
The aligning of board member’s responsibilities helps to cut down...
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