Board of Directors vs Management
Board of Directors(BOD) is an organized group of people which are elected normally by the stockholders of the firm generally at an Annual general meeting or (AGM) with the collective authority to control and foster an institution, and to govern the firm and look after the subscribers’ interests.
Management is the group of individuals who are hired by the Board of Directors that operate at the higher levels of an organization and have day-to-day responsibility for managing other individuals and maintaining responsibility for key business functions.
Difference Between Board of Directors vs Management
Board of Directors (BOD) | Management |
| Board of Directors(BOD) is an organized group of people which are elected normally by the stockholders of the firm generally at an Annual general meeting or (AGM) with the collective authority to control and foster an institution, and to govern the firm and look after the subscribers’ interests. | Management is the group of individuals who are hired by the Board of Directors that operate at the higher levels of an organization and have day-to-day responsibility for managing other individuals and maintaining responsibility for key business functions. |
| Board of Directors(BOD) are hired by the stockholders of the respective companies. | Management is hired by the Board of Directors(BOD) of the respective companies. |
| In the case of decision making (BOD)s are required to make decisions that will affect the future of the company. | In case of decision making Management must implement the decision made by the (BOD)s. |
| Board of Directors(BOD) are considered as the first-tier of the corporate hierarchy. | Management is considered as the second-tier of the corporate hierarchy. |
| Board of Directors (BOD) are accountable to the shareholders. | Management is accountable to the Board of Directors(BOD). |
| Board of Directors (BOD)s have a key role in the determination of the values and ethical position of the company. | Management must enact the ethos, taking their direction from the board. |
| Board of Directors (BOD)s may be held responsible for the company’s actions. | There is no such kind of legal responsibility held for the management. |
Duties of Board of Directors (BOD)s:
| Duties of Management :
|
Board of Directors (BOD)s consists of:
| Management consists of :
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