MANAGEMENT

Detailed explanation-1: -Managers are concerned with implementing the decisions and the policies made by the board. Duties and responsibilities Directors, not managers, have the ultimate responsibility for the long term prosperity of the company.

Detailed explanation-2: -Unlike managing director, who is entrusted with the substantial powers of the management, a manager has the management of the whole or substantially the whole of the affairs of the company. The powers are subject to superintendence, control and direction of the board of directors.

Detailed explanation-3: -They are of two types – independent directors and nominee directors. It can only be appointed for a maximum of 5 years and for two terms, with a minimum cooldown of 3 years between the term sheet.

Detailed explanation-4: -The board’s role in strategic planning entails identifying priorities, establishing goals and objectives, finding resources, and allocating funds to support the decisions that need to be made around strategic planning. The board is also responsible for monitoring the execution of the strategic plan.