In corporate governance, who typically bears the responsibility for strategic decision-making?

The Board of Directors typically bears the responsibility for strategic decision-making in a corporation. This governing body is entrusted with overseeing the organization's management and ensuring that the corporation acts in the best interests of its shareholders. The Board sets the broad direction and long-term strategy of the company, including major initiatives and policies that guide its operations.

While shareholders do have a role in corporate governance, particularly through voting rights and influence over major decisions like mergers or amendments to the company’s bylaws, they do not directly make day-to-day strategic decisions. Similarly, the officers of the corporation, who are responsible for managing the company’s operations and implementing the Board's directives, do report to the Board but do not hold ultimate strategic decision-making authority. Employees also contribute to the execution of strategic initiatives but do not engage in governance or high-level decision-making.

Thus, the role of the Board of Directors is vital in ensuring that a corporation remains aligned with its strategic goals and objectives, establishing the framework within which the company operates and grows.