[solved] The obligations of an investor-owned company's board of directors in the strategy-making, strategy-executing process include
coming up with compelling strategy proposals of their own to debate against those put forward by top management.
overseeing the company's financial accounting and financial reporting practices and instituting a compensation plan for top executives.
replacing the CEO when the company fails to earn a profit or pay a satisfactory dividend.
reviewing and approving the company's operating strategies and functional-area strategies and approving the appointment of all people to executive-level positions.
taking the lead in developing a strategic vision for the company.