Drafts and tests a topology of the relative powers of the chief executive officer (CEO) and the board of directors. A review of relevant literature reveals four types of boards of directors: caretaker, statutory, proactive, and participative, of which the latter two represent the strongest...

Organizational success crucially depends on having a superior strategy and effectively implementing it. Companies that outperform their rivals typically have a better grasp of what customers value, who their competitors are, and how they can create an enduring competitive advantage. Successful...