Did this video help you become a ceo?

If so, I totally need a testimonial. It isn't so much intended to help you get the job, as it is to help you understand the job in the first place.

Thank you! One of these days I'll start posting more content :)

@@SteverRobbins . It will be great

Glad it was helpful!

Glad it helped!

My pleasure!

Thank you very much! I'm doing my best :)

@@SteverRobbins keep up the good work

The Board of Directors can determine the CEO's financial targets, but a Board doesn't get involved in the operational goal setting. They generally need to *approve* the CEO's strategy and large capital allocation decisions, but they aren't expected to have or exercise detailed control. If a board member wants to get involved in setting strategy, for instance, they'll generally work with the CEO to do that outside of the board structure.

@@SteverRobbins I am not talking about individual board members. I am talking about the Board of Directors as a collective body is responsible to the owners for Directing the company's policies and finances. The Board may delegate some or all of this authority to CEO or they may not or it may be delegated to another office holder or body. like the CFO, independent Auditor, procurement committee etc. The CEO cannot do what ever he wants unless the Board allows him to. OR Unless the CEO is a founder/owner type CEO.

​@@gabrielbrewster107 Yes. I agree that the BoD has responsibility for the broad financial outcomes. They aren't evaluated on that, however. When a company doesn't hit its targets, it's the CEO who gets replaced (generally by the board), not the board. The CEO is held responsible. Furthermore, board members don't spend very much time on their duties, relative to a full-time employee. So in practice, it's the CEO who ends up making strategic and large financial decisions, which the Board can override based on the size of the decision and the way the by-laws are written. But the CEO's job remains strategy setting and capital allocation. The Board can put constraints on the CEO--they can veto a strategic plan, or refuse to authorize expenditures over a certain amount, etc.-but the board is not going to come up with strategy or get involved in the daily financial planning.

This is true legally. In practice, however, the shareholders only exercise oversight through valuation and/or share price. Unlike everyone else in a company, a CEO has no manager. No one holds them accountable for their daily behavior.

@@SteverRobbins When the CEO has no manager and no one holds them accountable for their daily behavior, that is when the company is privet and is not being traded in any market. Once the company becomes public, the CEO can get voted out by the board of shareholders if that CEO does a lot of bad stuff.

Sorry but I don't get it

He can, but the other shareholders might put up a heck of a proxy fight.

Yeah, he said that the first time we met. We didn't even make it entirely through dinner before his stories became insufferably boring. "All I wanted was to shake things up" and "Why did Dad have to lock me in the underworld?" Maybe once he learns to move on, we can try a second date.