BUSINESS INFORMATION SHEETS > STRATEGY > THE BOARD OF DIRECTORS > Directors' responsibilities (ST 8)
Duties and powers
Company directors are responsible for the management of their companies. But they act on behalf of the owners, and must consider their interests in everything they do. They also have responsibilities to the company's employees, its trading partners, and the state.
As a director, you need wide powers to help the company become a strong and profitable business. You face serious penalties if you abuse those powers, or if you use them irresponsibly.
This briefing covers:
- Appointing company directors.
- Directors' powers.
- Directors' responsibilities.
- Penalties for misuse of position.
- How to protect yourself.
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