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The primary roles$/$obligations of a company's board of directors in the strategy$-$making, strategy$-$executing process include

critically appraising the company's direction, strategy, and business approaches and evaluating the caliber of senior executives' strategy$-$making and strategy$-$executing skills.

developing the company's business model and advising the CEO as to how best to implement and execute the business model.

making sure the company has a sound and up$-$to$-$date $5-$year strategic plan, determining the company's dividend policy, and hiring and firing $($if need be$)$ all senior management executives.

determining whether the CEO and other senior executives have established an appropriate set of financial and strategic objectives. playing the lead role in developing the

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