Decision-making Responsibilities

Most duties that apply to corporate governance relate to decision-making responsibilities. Duties most clearly apply to the directors of a corporation since the directors are the decision-makers in the business. Officers owe similar duties as directors, especially officers that exercise judgment or discretion. In a closely held corporation, the same individual may serve as an officer and as a director, and so the same duties would apply to the person’s title in either position.

Inside Decision-making Responsibilities