What is the role of the board of directors?

The role of the board of directors is primarily focused on managing the corporation and providing overall guidance and strategic direction. They are responsible for making key decisions that impact the company’s operations, financial health, and long-term strategy. This includes approving budgets, setting company policies, and making major business decisions. The board also has a fiduciary responsibility to protect shareholders' interests and ensure the company is being run effectively and ethically.

While the production of goods and services, handling customer relations, and overseeing government regulations are important functions within a corporation, these tasks typically fall under the purview of management or various operational roles, rather than the governing body that the board of directors represents. Thus, the board's primary function is to manage at a higher, strategic level rather than engaging in day-to-day operational activities.