After reading this article you will learn about:- 1. Meaning of Oligarchy 2. Causes of Oligarchy 3. Implications. Meaning of Oligarchy: By Oligarchy we mean control by few. Company may be owned by large number of persons but only a few of them attain position and power to exploit the large body of shareholders and turn the company into a [...]
After reading this article you will learn about:- 1. Meaning of Board of Directors 2. Composition of the Board of Directors 3. Functions. Meaning of Board of Directors: The director of a company collectively are referred as the "Board of Directors" or "Board" [Sec. 252(3)] Only Individuals to be Directors: Nobody corporate, association or a firm can be appointed director [...]
Meaning of Social Control of Company: Despite the defects commonly admitted in the management of companies, the suitability of company as the superior form of business organisation cannot be disputed. The processes of democratisation should however be initiated in the conduct of company's affairs in order to remedy the oligarchic malaise. Democratisation or social control of company is inevitable to [...]