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Today, we\u2019ll continue in detail what we started in the previous article about Corporate Boards of Directors<\/span><\/a> With regard to this matter, we find that the board of directors has sufficient powers and authority to carry out all necessary actions to manage the company\u2019s operations and achieve its objectives, and these powers and authority are limited only by the provisions of the law or the company\u2019s articles of incorporation.<\/p>\n\n\n\n Boards of directors and their members achieve peak performance when they fulfill their responsibilities, exert their utmost effort, and draw upon their knowledge, experience, and expertise. The board of directors must comply with the provisions of the laws and regulations governing the company\u2019s incorporation, and may not engage in activities unrelated to the company\u2019s business or waive the company\u2019s rights vis-\u00e0-vis third parties. Furthermore, the board\u2019s authority is not absolute; It is not authorized to amend the company\u2019s articles of incorporation or bylaws, nor to decide on the company\u2019s merger, liquidation, or an increase or decrease in its capital, nor to dismiss the Chair of the Board or any of its members without referring the matter to the competent authority for approval of the decisions issued.\u00a0In summary, the Board of Directors is responsible for the administrative, financial, planning, organizational, and technical tasks necessary to conduct business and achieve the company\u2019s objectives, as follows: <\/p>\n\n\n\n \u2013 Appoint the executive director, define his or her authority, and oversee his or her work.<\/p>\n\n\n\n \u2013 Implement the decisions of the competent authorities and monitor their implementation.<\/p>\n\n\n\n \u2013 Prepare the final accounts for the previous year during the first six months of each year and prepare a comprehensive report on them and on the results of the implementation of the annual plan, including: (General Budget \u2013 Profit and Loss Statement \u2013 Cash on Hand \u2013 Statement of Sales \u2013 Statement of Purchases \u2013 Appointing an auditor \u2013 Conducting studies and planning in a scientific manner \u2013 Providing the necessary resources).<\/p>\n\n\n\n In the event of violations committed by members of the Board of Directors, liability shall rest with all members of the Board, provided that the error resulted from a unanimous decision; If the decision was adopted by a majority vote, those who objected to the decision shall not be held liable, provided that this is documented in the minutes of the meeting at which the decision was made.<\/p>\n\n\n\n Customer satisfaction, a good reputation, and increased profits are among the most important goals of companies; therefore, boards of directors must operate in accordance with scientific principles and legal and ethical standards, for success comes only to those who deserve it.<\/p>\n\n\n\n Marketing expert<\/p>\n\n\n\n Samy.safeer2008@gmail.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>Today, we will continue in detail what we began in the previous article on the boards of directors of joint-stock companies, We find that the board of directors has sufficient powers and authority to carry out all necessary actions to manage the company\u2019s operations and achieve its objectives, and these powers and authority are limited only by what is stipulated in the law or the company\u2019s articles of association. Boards of directors and their members reach peak performance when \u2026 Read 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