The Power in a Companys organizational structure from

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The Power in a Company’s organizational structure from Shareholders to Financial Department

The Power in a Company’s organizational structure from Shareholders to Financial Department

Owners Stockholders Shareholders

Owners Stockholders Shareholders

Meetings of shareholders /General Meetings of Shareholders/ convened / convoked ussually 1 per year

Meetings of shareholders /General Meetings of Shareholders/ convened / convoked ussually 1 per year

Meetings of shareholders’ 1 per year – General Meeting of Shareholders In Poland ussually

Meetings of shareholders’ 1 per year – General Meeting of Shareholders In Poland ussually in June more often (e. g. in March – to discuss sth. ) Extraordinary General Meeting of Shareholders

Shareholders (at a meeting) appoint nominate, designate Supevisory Board

Shareholders (at a meeting) appoint nominate, designate Supevisory Board

Supervisory Board meetings usually 1 per month -1 per 3 months

Supervisory Board meetings usually 1 per month -1 per 3 months

Supervisory Board appoints nominates, designates Board of Directors

Supervisory Board appoints nominates, designates Board of Directors

Stockholders reports Supervisory Board reports Board of Directors

Stockholders reports Supervisory Board reports Board of Directors

Who heads (leads) Shareholders - (main shareholder) Supervisory Board – (Chairman) Board of Directors

Who heads (leads) Shareholders - (main shareholder) Supervisory Board – (Chairman) Board of Directors – (Chairman of the Board)

Board of Directors meetings, minutes – usually 1 per week

Board of Directors meetings, minutes – usually 1 per week

Board of Directors • Board of managers • Board of governors • Bord of

Board of Directors • Board of managers • Board of governors • Bord of trustees

Board of Directors Chief Executive Officer (CEO) Managing Director Chief Production Officer (CPO) (Production

Board of Directors Chief Executive Officer (CEO) Managing Director Chief Production Officer (CPO) (Production Deputy Director) Chief Sales Officer (CSO) (Sales Deputy Director) Chief Financial Officer (CFO) (Finance Deputy Director)

Board of Directors Chief Executive Officer Chief Production Officer Chief Marketing Officer Chief Financial

Board of Directors Chief Executive Officer Chief Production Officer Chief Marketing Officer Chief Financial Officer Treasurer Finance Depart. Controler Accounting Depart.

Duties of Finance Department • documentation and the controlling of incoming and outgoing cash

Duties of Finance Department • documentation and the controlling of incoming and outgoing cash flows, • handling of the cash flows, • paying bills, wages, repayments of loans etc. • looking for sources of finance (to pay bills) – loans, lease contracts, bonds etc. • planning/forecasting the future of a company.

The new words • • • • stockholders, shareholders, majority and minority shareholders, voting

The new words • • • • stockholders, shareholders, majority and minority shareholders, voting by shares, voting by show of hands, voting by poll, conflict of interest, an accusition (to accuse), casting vote, to approve financial statements, to designate, Supervisory Board of Directors meetings, minutes to record, draft meetings – to minute

• • • to vote resolution, to report, Board of governors, Board of

• • • to vote resolution, to report, Board of governors, Board of trustees, Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Sales Officer. Managing Director, Sales Deputy Director, Finance Deputy Director, Divisions, Accounting Division, Financial Division, Controller, Treasurer.