Strategic Marketing Management

Introduction

The organizational configuration of companies or corporations in today’s environments is quite complex. The large companies have the shareholders who periodically elect a board of directors who collectively manage the company's affairs and reach decisions by a majority vote but also have the right to delegate any of their powers, or even the whole management of the company's business, to one or more people selected by them. Under this system it is common to appoint a chief executive and the subordinate executives who mange the corporate affairs and also assist the board of directors who authorize them to enter into all transactions needed for carrying on the company's business, subject only to the general supervision of the board and to its approval of particularly important measures, such as issuing shares or bonds or borrowing. The corporate structures are further sub organized according to the requirement of the business.

Most of the corporate organizations are required to have under law, the board of directors elected periodically by the shareholders to appoint certain executive officers, such as the president, vice president, treasurer, and secretary. These generally have no management powers and accomplish the administrative functions that are the concern of its secretary, but the president and in his absence the vice president have by law or by delegation from the board of directors the same full powers of day-to-day management.

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The most complex management structures are of those organizations that are provided for public companies under law. The management of private companies under these systems is restricted to one or more managers who have the equivalent powers as of a chief executive. In the case of certain public companies, however, a