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Board Of Directors Have The Same Level Of Influence Or Responsibility?

221 Words1 Pages
If the small business is a corporation, they are legally required to have a board of directors. The board members are voted in by the stockholders and the board of directors usually hire the managers and vote on company policies. For corporation board of directors is something they must have, but advisory board is something they can elect to have as a fresher look at the company from people who are not involved. If the business is not a corporation does the board of directors have the same level of influence and control over the company as in the corporation? Why would small business owner give up so much of the control if he can have outsiders input from an advisory board? Because that what we are aiming for honest evaluation of the business,
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