board-of-directors

Vocabulary Word

Definition

A 'board of directors' is a group of people chosen by the shareholders of a corporation to make important decisions. This includes decisions such as hiring or firing the CEO and setting company policies.

Examples in Different Contexts

In non-profit governance, the board of directors sets policies, defines the organization's mission, and ensures resources are used effectively. A non-profit executive might explain, 'The board of directors helps us stay true to our mission and manage our resources wisely.'

Practice Scenarios

Non-profit

Scenario:

Our outreach efforts are expanding. It's a step closer to achieving our vision in community service.

Response:

Glad that the board of directors is onboard with the expansion. This will have a significant impact on the community we serve.

Tech

Scenario:

We're focusing on AI development this year. It's an exciting time for our company.

Response:

If the board of directors sees AI as a priority, let's ensure we're up to the task and provide groundbreaking tech.