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[edit] Board of Directors
A board of directors is the governing body of a corporation that is elected by shareholders. The board is typically made up of representatives from inside the company, such as the CXOs (CEO, COO, CTO, etc.), president and vice presidents, and investors or representatives of investors in the company. The primary role of the board of directors is to formally engage the principal (strategic) issues facing the direction and management of the company as interest its investors. The CEO is the centerpiece of the board. The CEO is responsible to the board for the planning and execution of the strategy of the venture.
[edit] Advisory Boards
An advisory board is a group of professionals or consultants who can direct and advise a company’s management team. Because it is an unofficial group (unlike the board of directors) it can be structured to best fit the company. Generally, it includes a legal advisor, and accountant, marketing consultant, human resources expert, financial advisors, or other business advisor or industry specialist, depending on the strengths and weaknesses of the company.
[edit] Employees
In the broadest sense, the group "employees" includes everyone who receives a paycheck for daily work in the business of the company, or in a narrower sense perhaps the term is used as exclusive of senior management.
The use of the term among the members of a particular company is a strong indicator of culture and environment. A company with a zealous sense of hierarchy will be more comfortable in the exclusive sense, for example. Where the inclusive use is comfortable, the term "company" may refer more to people (as in a company of people) than to the corporation as abstract from the people working in its legal frame.
It's often noted that "environment" or "culture" are critical components for the high level management and ultimate capacity (efficacy) of a company. And that taking bigger risks earlier rather than later is important. Establishing culture and environment early is easy, but later on can become nearly impossible to change.