Who is responsible for the operation of the corporation?

The board of directors holds the responsibility for the operation of the corporation. This group is tasked with overseeing the company's management and guiding its overall strategic direction. They set policies, make crucial decisions, and ensure that the corporation adheres to appropriate governance standards. The board's role is to act in the best interests of the shareholders and to ensure that the company is run efficiently and effectively.

While officers and managers are the individuals who handle the day-to-day operations and execution of the board's policies, it is the board of directors who are ultimately accountable for the corporation's performance and direction. They are elected by the shareholders, reflecting the interests of the shareholders in the corporation's management. Shareholders may have a financial interest in the company, but it is the board that makes significant operational decisions. Members typically refer to various stakeholders but are not specifically responsible for corporate operations in the context of this question.